SaltX Technology - listed on Nasdaq First North- is one of the ten finalists of the Helsinki Energy Challenge 2020. SaltX submitted a competition entry together with AI company Rebase Energy amongst 250 other competitors from all around the world. The winner will be announced tomorrow, Tuesday 16 March at 16.15.
Earlier in 2020, Helsinki announced a global competition to find the best sustainable and fossil-free energy solution with the mission of finding functional solutions before 2029 to achieve the city of Helsinki's goal - to become carbon neutral by 2035.
‘’We have proven to a very competent jury that our ideas about the future sustainable city are fully possible. To be amongst the top ten is very important to us and we see that this will open many doors for us in the future '', says Carl-Johan Linér, CEO of SaltX Technology, and continues: "More and more people start to understand the potential of our technology and how it can solve future challenges in transforming cities to be fossil-free in a cost-effective and sustainable way, without having to lower the standard of living."
Helsinki, like many other cities, has had a problem with excessive energy consumption from fossil fuels. Today, coal power accounts for about half of the city's heat production. New solutions are now being sought on how to manage future energy consumption without fossil fuels and reduce the use of biofuels.
The competition has been followed by other cities in the world such as Amsterdam and Vancouver and has been supported by organizations such as the World Economic Forums: Global Future Council and the C40 City Solutions Platform.
The Helsinki Energy Challenge had over 250 competitors from all over the world, of which ten entries were selected in November for the final. The joint contribution from SaltX and Rebase Energy was one of the top ten contributions.
SaltX's thermochemical energy storage solution based on the patented nanocoated salt and Rebase Energy's self-developed AI, led to the proposal to the Helsinki Energy Challenge - a unique solution where mature energy technology is complemented with new solutions implemented in a sustainable, circular, and innovative way. By letting old and new technology work in symbiosis in an optimal way, SaltX’s and Rebase’s entry could provide an expected 85% reduction in emissions as early as 2030.
Live stream the final here:
Time: 16 March 2021, 13:00-15:30 CET
For more information, please contact:
Carl-Johan Linér, CEO, +46 705 320 808
Harald Bauer, CFO, +46 708 108 034
About the Helsinki Energy Challenge
To find the best solutions for heating Helsinki in the future, the city of Helsinki has created the Helsinki Energy Challenge - a global competition with a prize of one million euros that will answer the question. The requirement is that the proposed solution will significantly contribute to the cessation of coal use in 2029 and accelerate the City of Helsinki's journey to becoming carbon neutral in 2035. For more information, visit: energychallenge.hel.fi
About Rebase Energy
Rebase Energy provides data and digital tools for optimisation of distributed energy resources. The Rebase Datahub providers access to high quality datasets for energy optimisation such as weather, market, and asset data. The Rebase Toolkit is an open-source developer tool to forecast, optimise and simulate smart agents for energy systems. Using the Rebase data and tools energy companies can reduce forecasts uncertainty by 20% and thereby improve the balance of supply and demand. For more information, visit: www.rebase.energy
About SaltX Technology
SaltX Technology develops and sells patented energy storage solutions based on nanocoated salt. SaltX mission is to develop and offer sustainable technology solutions that will clearly benefit customers, the climate and society. SaltX Technology's share is listed on the Nasdaq First North Premier Growth Market. FNCA Sweden AB, + 468-528 00 399, email@example.com, is SaltX Technology's certified advisor. For more information, visit: www.saltxtechnology.com.