Baseload Capital Sweden AB (publ) today releases the results for the period 1 January – 30 September 2021

Interim report for the period 1 January – 30 September 2021

During the third quarter, the focus continued to be on project and business development as well as to drive important long-term projects forward.

• Profit/loss for the quarter was SEK -15.0 million, with revaluation of projects and loans to subsidiaries accounting for SEK -1.9 million. The exchange rate differences as a result of a weaker Swedish krona were SEK 9.5 million.

• In Iceland, our local development company is working to bring existing power plants to full capacity and sign new land leases for future project development.

• In the US, we are working on commissioning a power plant on an existing oil field in California. This will be a pilot project where we use water from oil and gas wells and produce green electricity from the wastewater. The Wendel project is awaiting a permit for wastewater, and we expect a decision from the California Water Board in Q1 2022.

• In Taiwan, the drilling at Westlake has been completed, which has resulted in less flow than expected. The work with the well has increased our knowledge about the geology of the area. We found a permeable zone on a shallower level and planning for a second well is now in progress.

In Japan, our local development company is working on the completion of construction and commissioning of San Sui as part of the larger Waita project. The goal was to put the project into operation before the end of the year, but due to travel restrictions, it looks like it will be delayed until Q1 2022.

The information was submitted for publication at 07:30 CET on 26 November 2021.

This disclosure contains information that Baseload Capital Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-11-2021 07:30 CET.

For more information, please contact:
Alexander Helling CEO of Baseload Capital
alexander.helling@baseloadcap.com

About Us

Baseload Capital is a specialized investment entity that funds the deployment of heat power worldwide. Our portfolio of companies in Iceland, Japan, Taiwan and the U.S. work with local communities and power companies to permit, build and commission heat power plants.

Heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat. By applying innovative financing structures to help our local operators build and run the heat power plants, Baseload Capital can help nations quickly transition away from fossil fuels and toward energy independence. The result will lead to more resilient societies and a planet in balance. 

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