Baseload Capital Sweden AB (publ) today releases the results for the period 1 January – 31 March 2021

Interim report for the period 1 January – 31 March 2021

During the first quarter of 2021, Baseload closed a capital round of USD 25m with Chevron Technology Ventures (“Chevron”) as a new strategic investor.

• The result for the first quarter was SEK -31.0 million (SEK -8.3 million for the same period in 2020).​​​​​​
• In Japan, work continues on the third project for Baseload Power Japan. Called Sansui, it is a small project where an existing onsen-well is used to run two Climeon modules. The project is strategically important to be able to expand with larger projects in the vicinity.
• In Taiwan, drilling is back in full swing at the Westlake project with a depth of 900 meters and a target of 1200 meters. According to the new schedule, drilling should be completed by the end of May or the beginning of June.
• In Iceland, Varmaorka commissioned phase 2 of the Fludir project, and started up an additional 600 kW of power, which gives Fludir 1 & 2 a total capacity of 1200 kW. The work for phase three has also begun, with an evaluation of whether we can build an additional 500 to 1500 kW on the site.
• In the US, Baseload has signed an LOI together with Chevron’s Technology Center to build a pilot project on an existing well.

The information was submitted for publication at 07:30 CET on 26 May 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 26-05-2021 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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