SaltX signs agreement with Norwegian Östfold Energi

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- Secures 1.8 MNOK in government funding for a pilot project

The energy storage company SaltX Technology (SALT:B) – listed on Stockholm NASDAQ First North Premier and the Norwegian energy company Östfold Energi AS have signed an agreement regarding certain market- and distribution rights for EnerStore. At the same time, Norwegian Energy Agency - Enova - has approved a 1.8-MNOK grant to conduct a pilot project. The pilot plant will be installed at one of Östfold Energi´s customers during 2019.

During 2018, SaltX and Östfold Energi developed the concept and conducted a feasibility study in which full-scale tests were completed in September at a district heating utility in Åland. 

We see an increasing demand for cooling among our district heating customers. SaltX Technology has an interesting and competitive solution that we want to try in our system. We believe the market for this kind of solutions is significant, not only in the Nordics, but also globally”, says the CEO of Östfold Energi, Oddmund Kroken.

SaltX will deliver the salt material and related components and Östfold Energi will, with the support of SaltX, install and run the pilot plant. The purpose of the project will be to showcase the technology and system for potential customers. 

Östfold Energi is a great example of true pioneers that believe in new technology and wants to lead the way. To fully commercialize the solution, we will together with Östfold Energi also involve a leading system partner”, says Christofer Rhén, SaltX Vice President of Business Development. 

For further information, please contact:
Karl Bohman, CEO SaltX Technology, tel: +46-705 600 268

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About Östfold Energi
Östfold Energi AS (www.ostfoldenergi.no) is a leading producer of wind, water and district heating energy in Norway. Östfold Energi is owned by the municipality of Östfold and other municipalities in the county. Östfold Energi produced 2 217 GWh energy last year.  

About SaltX Technology
SaltX Technology - www.saltxtechnology.com- develops and sells patented energy storage technology. Main customers are major global OEM partners and energy companies such as Alfa Laval, Vattenfall, Mobile Climate Control and Rheem. SaltX Technology's share is listed on Nasdaq Stockholm First North Premier. SaltX Technology’s Certified Adviser is FNCA Sweden AB. 

Stockholm
October 15, 2018