Climeon steps up - first volume order approved for delivery

Climeon achieved a key milstone when successfully passing the Factory Acceptance Test of the first volume order. The first six Climeon Heat Power units, out of totally 18, are being prepared for delivery to Fincantieris shipyard i Romania. 

Representatives from Fincantieri, Lloyd’s Register and the ship owner attended the Factory Acceptance Test to verify performance, safety and quality of the products before shipment to Fincantieris shipyard in Romania.

Thomas Öström, CEO at Climeon, comments: 
“This is a key milestone for us that makes 2017 the year we went from single module production to volume capacity. Approval from such a thorough review by demanding customers and certification bodies is another great proof of our capability to deliver Climeon Heat Power products with high quality”.

Sten Carlsson, owner and founder of Mastec, comments:
”In a rapid and efficient cooperation, Mastec and Climeon have achieved industrial top-quality and got the Climeon Heat Power products certified by Lloyd's Register, with high demands on design, welding, machining and assembly. We are extremely pleased and proud! The team has done a great job and we look forward to the continuation of this cooperation.”
 

Fincantieri is the world’s largest ship builder of cruise ships and has delivered over 7000 vessels for several decades and to leading brands in the cruise ship market.

Lloyd’s Register is a leading maritime classification society, known for its very high standards and strict requirements. 

For additional information, please contact: 
Thomas Öström, CEO, Climeon 
+46 708 94 96 05 
thomas.ostrom@climeon.com 

Christoffer Andersson, COO, Climeon 
+46 762 00 72 99 
christoffer.andersson@climeon.com 

About Climeon AB (publ) 
Climeon provides a technology that uses the energy in waste heat from industries and low-temperature geothermal heat to generate electricity. The Company received its first order in 2015 and has since then built up a customer base consisting of Viking Line, Virgin Voyages/Fincantieri, Maersk Line, CP Energy and SSAB, among others. Climeon has now reached a stage where the technology is proven, and the commercial marketability is demonstrated through repeat orders from leading players in a number of industries. The product is protected by patents and offers market-leading performance within its areas of application. Climeon has also built a scalable organisation with a high production capacity and an experienced management team primed for growth. FNCA Sweden AB is Certified Advisor for Climeon.

Climeon’s market and focus segments 
Waste heat and geothermal energy (below 120°C) jointly comprise a vast energy source that today is largely untapped due to limitations of existing technologies. Climeon's product is the first heat recovery system to be able to utilise this previously unexploited source of energy on a large scale to produce electricity. The Company has therefore the opportunity to enter in a new market with limited competition. Climeon is currently focusing on four market segments: maritime, steel and cement production, genset (generators) and geothermal energy. 

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Climeon's mission is "business for a better world". The Climeon Heat Power system efficiently converts waste heat into clean electricity, ensuring fuel savings and reduced carbon emissions. The technology has received numerous awards including The World Wildlife Foundation (WWF) 2016 Climate Solver Award.

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