ALELION PROJECT FOR MORE SUSTAINABLE ENERGY USE QUALIFIES FOR EU FINANCING OF 8 MILLION SWEDISH CROWNS BY EUROSTARS

The Alelion Intelligent Energy Systems project, AIES, has been in fierce European competition for funding through the EU Commission Innovation Program Eurostar. The AIES project is an industrial environmental project aimed at better utilizing the capacity of the batteries that Alelion produces and supplies.

Eurostars is an innovation program funded by the EU Commission and 36 participating countries. The purpose of the program is to support the development of innovative products, processes or services that can help improve the lives of people worldwide and which can reach the market in a short period of time. According to Eurostars, the Alelion Intelligent Energy Systems project is an innovation and environmental project that meets the high standards and is of such importance that it will receive part-financing. AIES aims to create new services for sustainable energy use by utilizing the truck's battery capacity for energy storage, cargo and energy trading. The solutions that the project aims at developing improves both the customers' finances and reduces their environmental impact. The project's total budget is SEK 16 million, of which half is funded by Eurostar. Alelion is the sole owner of the result.

Alelion Energy Systems develops and manufactures lithium ion batteries and associated systems for industrial vehicles, primarily trucks. Among the company's customers are some of the world's largest truck manufacturers, such as Toyota Material Handling and Jungheinrich.

"The project aims at our customers to use energy more sustainable. One example is when our customers' trucks stand still, then the batteries are not being used, which is an untapped resource. " says Daniel Troedsson, CEO of Alelion Energy Systems.

"By connecting the batteries to the powerline and different control systems, they can also be used to balance production and consumption on the grid, to save extra energy, but also to energy trading. Such solutions can make a major contribution to building more sustainable energy systems. "

In AIES, Alelion has gained leading global expertise such as Professor Kary Främling and Sara Bell. Främling is a leading expert in machine learning and the Internet of Things at Aalto University in Finland and supports projects with model development and optimization. Sara Bell is the CEO of the British energy company Tempus Energy, who is responsible for developing the energy trading features of the project. Tempus Energy has a leading position in energy trading and has received several international awards such as the American Free Electron Challenge and European Disruptive Awards.

For more information, please contact

Daniel Troedsson CEO

Alelion Energy Systems AB

0707-51 67 10

About Alelion Energy Systems AB (publ)

Alelion Energy Systems AB (publ) develops and markets lithium ion batteries and energy storage systems. Today, the company has a leading position in the material handling segment, with several leading global truck manufacturers as customers.

Read more at www.alelion.com

Alelion's largest owner is Fouriertransform and Pegroco Invest. The company's share (ALELIO) is traded on Nasdaq First North Stockholm with G & W Fondkommission as Certified Adviser, phone: +46-850300050. 

Alelion Energy Systems AB

Flöjelbergsgatan 14 C

SE-431 37 Mölndal

info@alelion.com

www.alelion.com

Org nr: 556710-7916

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