SaltX and Ahlstrom-Munksjö sign development and license agreement
- To develop large scale manufacturing method for SaltX material on graphene paper
The energy storage company SaltX Technology – listed on Nasdaq First North – enters strategic collaboration with specialty paper producer Ahlstrom-Munksjö. The companies will develop a large-scale manufacturing method where paper is coated with the wonder material graphene. The graphene-coated paper will act as carrier of SaltX patented Nano Coated Salt, increasing the heat conductivity of the SaltX material by up to five times.
The method to manufacture SaltX energy storage material on paper potentially reduces the cost by up to 80 percent compared to existing technique. It also enables an industrial and scalable production with an initial capacity of 100,000 tons of energy storage material, which is the equivalent to 50 gigawatt hours of thermal energy storage.
During the development project, which runs for two years, SaltX and Ahlstrom-Munksjö will jointly develop and test the manufacturing process in a pilot production line. Thereafter, the companies intend to start large scale manufacturing of paper coated with graphene and Nano Coated Salt.
”The agreement with Ahlstrom-Munksjö means the largest technology leap since we invented the Nano Coated Salt. The cooperation enables us to increase our competitive advantage even further for large-scale thermal energy storage for power production, and ensures our supply can meet the growing global demand”, says Karl Bohman, CEO of SaltX Technology.
The deal also includes the key terms for a supply agreement which, upon start of volume manufacturing, provides Ahlstrom-Munksjö an exclusive license to produce and supply SaltX with energy storage material.
”We know graphene since some time, and currently assess viable methods to integrate graphene in our products within insulation paper. The market for energy storage is clearly interesting, and provided positive results in this development project, I believe we, based on our knowledge and experience bringing innovative fiber products to market, relatively quickly and effectively can start production of the SaltX energy storage material”, says Anna Bergquist, Vice President for Business Unit Insulation paper at Ahlstrom-Munksjö.
At the end of last year, SaltX communicated that the company has initiated a collaboration with a leading manufacturer of graphene, which has the potential to increase the heat conductivity, thus the performance of the SaltX material by up to five times.
”As I made inventions for the paper industry 30 years ago, I gained knowledge about the amazing possibilities of paper. With Ahlstrom-Munksjö’s good development and flexible production capabilities, we can achieve a fully scalable and very cost-efficient manufacturing method for our material”, says Göran Bolin, SaltX Technology’s founder and CTO.
About Ahlstrom Munksjö
Ahlstrom Munksjö – www.ahlstrom-munksjo.com – is a global and leading provider of sustainable and innovative fiber-based products, focused on niches such as decor- and insulation paper, fiber material, glass fiber, electro-technical paper, food packaging, medical fiber material and solutions for diagnostics.
The group has a turnover of 2.2 billion Euros and employs 6,000 people. The company is listed on Nasdaq in Helsinki and Stockholm, and was established through the merger of Ahlstrom and Munksjö in April 2017.
SaltX Technology has since several years developed methods to use graphene in its energy storage material. Graphene is a natural, coal-based material consisting of a very thin layer – merely one atom thick. Furthermore, graphene is 200 times stronger than steal and has a four times better conductivity in terms of heat and electricity than silver.
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. SaltX Technology’s Certified Adviser is FNCA Sweden AB.
For further information, please contact:
Karl Bohman, CEO SaltX Technology, tel: +46-705 600 268
If you have questions or would like to know more about this collaboration, SaltX invites to a WebEx conference call today - March 7, 2018 - at 12:00 CET. Please join:
- Via computer: goo.gl/xe1Amv
- By phone: +46 850 513 563
- Enter Meeting ID: 951 786 082
- If joining via app use the password: 12345
It will be possible to download and listen to the call afterwards at saltxtechnology.com/en/investor
You can also watch an interview with Karl Bohman by clicking on this link: https://youtu.be/eJW3HER5Q4w
SaltX Technology is obliged to disclose this information under the EU Market Abuse Regulation (MAR). The information was provided by the contact person listed above, for publication on March 7, 2018 at 08.00 CET.
March 7, 2018