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SaltX and Vattenfall launches pilot project for large-scale energy storage

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SaltX Technology and Vattenfall have signed a Letter of Intent to conduct a pilot project based on SaltX large-scale energy storage technology - EnerStore. The pilot plant will be built in one of Vattenfall's district heating networks and used to verify SaltX EnerStore technology in full-scale. The pilot facility will also demonstrate how EnerStore can be commercialized in the best possible way. The project will start in the second half of this year and the first phase will run for 18 months.

As previously announced, the pilot project will be conducted in close cooperation with a Swedish energy research firm Energiforsk. Additional Swedish energy companies have indicated interest to participate in the project through Energiforsk. Sweden’s leading technology consultant - Sweco - will do the project engineering of the pilot plant, and Stockholm University will do the validation measurements and performance tests.

"Vattenfall is the perfect match for us and has the resources and extensive experience to make this pilot project a success. Their technical skills and commercial verification will be very valuable as we launch EnerStore on the market", says Karl Bohman, CEO of SaltX Technology.

Both Vattenfall R&D and its business area for Heat will be involved in the project. Vattenfall will host the pilot plant and support the operation and maintenance of the facility.

Vattenfall intends to invest significant resources in the pilot project and has, together with SaltX, also applied for external funding from the Swedish Energy Agency to accelerate the implementation.

For further information, please contact:

Karl Bohman, CEO SaltX Technology, phone +46 70 560 02 68

About Vattenfall

Vattenfall - www.vattenfall.se- is one of Europe's largest heat and electricity- as well as heat producers. Vattenfall's main markets are Denmark, Finland, the Netherlands, Germany, Great Britain and Sweden. The group, headquartered in Solna, is wholly owned by the Swedish government and has about 20,000 employees.

About SaltX and EnerStore

SaltX has developed and patented a Nano-Coated Salt (NCS) energy storage technology used in SaltX application for large-scale energy storage for heat and power production - EnerStore. By coating the SaltX material with different forms of nanoparticles, more energy can be stored in the salt and corrosion is prevented. The material provides a high capacity to store intermittent energy sources such as wind and solar energy, with minimal storage losses and in a cost-effective manner.

About SaltX Technology

SaltX Technology develops and sells patented energy storage technology, which is marketed under the brand SaltX ™. Customers consist mainly of major global OEM partners such as Alfa Laval, Mobile Climate Control and Rheem. SaltX Technology's stock is listed on Nasdaq Stockholm First North. FNCA Sweden AB is SaltX Technology’s Certified Adviser. For more information, visit www.saltxtechnology.com.