Ripasso Energy AB has been asked to submit a detailed proposal in South Africa – the company is preparing for listing on a regulated market.

Clean tech company Ripasso Energy has been asked to submit a detailed proposal for the installation of 72 PWR BLOK 400-F units at two ferrochrome production facilities in South Africa. The company has also commenced marketing the PWR BLOK for use with syngas and low-quality LPG in South Africa. In light of this, the board has decided to prepare the company for listing on a regulated market in 2019.

Last winter, Swedish clean tech company Ripasso Energy signed an agreement with the South African ferrochrome producer Afarak South Africa (Pty) Ltd for the sale of 7 PWR BLOK 400-Fs. This summer, the company has been asked to submit a detailed proposal for installations at two major production facilities for another South African ferrochrome producer. In total this would involve 72 PWR BLOK units worth EUR 36 million. 

Following a successful evaluation of PWR BLOK’s ability to generate electricity using syngas and low-quality LPG, Ripasso has also started marketing the PWR BLOK for these gases in South Africa. The response has been positive, and the goal is to provide technology for local projects in South Africa where distributed electricity supply can be accomplished at a lower cost than purchasing from the national electric utility. 

In light of developments in South Africa, Ripasso Energy’s Board of Directors has decided to prepare to have the company listed on a regulated market. A marketplace will be selected in 1H 2019 and the intention is for the listing to occur in 3Q 2019.  

“Ripasso Energy has been a public company for nearly 2 years. It has an organisation in place that will soon be able to meet the demands imposed by a regulated market. Because the company is poised for rapid growth, we want to make it possible for a broader-based and more institutional group of investors to become shareholders in the company. In consultation with the major shareholders, I have asked the nomination committee to evaluate the composition of the board ahead of this initiative and, if appropriate, to identify new candidates who possess the relevant skill set and experience,” says Sven Sahle, Ripasso Energy AB’s Chairman of the Board and largest shareholder.

For further information please contact:

Sven Sahle, Ripasso Energy AB’s Chairman of the Board,  ir@ripassoenergy.com.

About Ripasso Energy

Ripasso Energy is a Swedish clean tech company founded in 2008 with a mission to further refine the incomparable ability of Stirling technology to convert thermal energy to electricity. The company offers a variety of solutions enabling power generation at record-low prices compared to other climate-friendly and sustainable alternatives. Ripasso Energy's Stirling engine can handle a wide range of fuels. The company's latest product, the PWR BLOK 400-F, converts industrial residual and flare gases into electrical energy at a high rate of efficiency. The company’s shares are listed in Sweden (on the NGM Nordic MTF), and can also be traded on the Börse Stuttgart in Germany. Read more at www.ripassoenergy.com.

Ripasso Energy is required to disclose this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication at the initiative of the above contact person on 14 August 2018 at 07:00 CET.