The board deeply regrets that it became necessary for Cinis Fertilizer to file for bankruptcy. The board has evaluated various courses of action and worked intensively to find a solution, but unfortunately, we have had the time against us and no agreement has been reached. There is a need for Swedish production of mineral fertilizer, and our hope is that the bankruptcy administrator will soon find a good solution that ensures the continuation of the business

Cinis Fertilizer is an important part of the circular economy – we use resources efficiently, reduce the extraction of raw materials and contribute to giving waste new life and value

We have appointed Stockholm Corporate Finance as independent financial advisor to assist the company’s Board of Directors and management. The assignment includes leading and coordinating various strategic and financial alternatives

This is good timing to conduct plant improvements given the seasonality of fertilizer market. This overhaul has been carefully planned in order to ensure minimum disruption in the supply of our product

Cinis Fertilizer has an underlying viable business, and we have overcome several obstacles, including failed deliveries of residual flows and deficiencies in delivered equipment, but with lower revenues than planned. In recent months, we have observed ongoing price pressure in the market and been working on multiple counter measures, beyond improved production efficiency, to strengthen our profitability

Cinis Fertilizer continues to work on several initiatives aimed at improving the company’s profitability

A year ago, we broke ground to mark the start of construction for our facility in Örnsköldsvik, Sweden. Since then, the work has progressed according to plan thanks to the great commitment of the entire organization and of all our partners. I am proud of what we achieved in 2023! Now we are looking forward to starting production and taking the next step to establish Cinis Fertilizer as a significant player in several markets.

This is another milestone for the construction of our facility in Örnsköldsvik and an important part of our timetable to start production of fossil-free and circular potassium sulphate in early 2024. We are in a fantastically fun phase of our journey. Lots of activities and I can happily state that we are following the schedule and in some respects we are even ahead of our plan. The roof of the process facility is in place and work on the installation of the last parts of the process equipment is ongoing in parallel with the construction of the salt storage. I am proud of all employees and partners who contribute in the very best way

This is yet another example of E.ON enabling the green industrial revolution in Norrland. It has been intensive work and we are very happy to now be able to connect this facility, which contributes to an innovative solution and new job opportunities in the municipality

Cinis Fertilizer will soon have a unique plant in operation

The rapid handling of important contractual issues and the great interest key players have demonstrated have made us choose to shift our schedule. Ascend Elements battery material manufacturing facility is being built quickly and we have already managed to establish a strong local network.

In the past year, we have experienced massive international interest in our environmentally friendly fertilizer, where circularity and fossil-free production are key. For manufacturers of batteries, it is important that the entire production chain meets high requirements for resource efficiency and environmental friendliness. The agreement with Ascend Elements in addition with the letter of intent with K+S, which includes the purchase of our full plant production capacity, gives us the confidence we need to establish Cinis Fertilizer on the American market

We are pleased that K+S chooses to confirm already now the previous declaration of intent regarding cooperation regarding our important input product, potassium chloride. The agreement safeguards our production plan. Furthermore, K+S confirms their interest to take the potassium sulphate fertilizer produced by Cinis Fertilizer from further plants

Important and inspiring milestones reached - focus now on preparing for the start of production

The agreement is an important part of our vision of a circular economy that reduces greenhouse gas emissions. Cinis Fertilizer’s business plan means that we will have enough sodium sulphate for four plants that will be in operation before 2028

With Roger Svensk as COO, we strengthen Cinis Fertilizer’s competence and ability to establish and operate current and future production facilities. He will be a key person in documenting and transferring experience from our first plant to the additional three next plants that we will have built by the end of 2028

I look forward to being involved in the company from an early stage and in the planning phase for a new production facility. I believe that I can contribute to a successful start for Cinis Fertilizer and that we can then bring experience and corporate culture to subsequent facilities

It is very gratifying that Cinis Fertilizer receives an environmental permit also for our planned operations in Skellefteå. We have come a long way in the planning and will use the experience we gain from the ongoing establishment of our production facility in the municipality of Örnsköldsvik

It is very gratifying that we have now received a permit for our operations, and we look forward to claiming the permit. We are thus following our schedule, which means that we will start production of fossil free fertilizer already beginning of next year

- What we are going to build here in Köpmanholmen is something unique. Here, Cinis Fertilizer will manufacture the world’s most sustainable mineral fertilizer from residual products from electric car battery manufacturing and the pulp industry. We will use traditional and proven process technology powered by fossil-free electricity. Our end product, potassium sulfate, will be an important contribution to the green trans-formation of agriculture, where our end customers are located

It is gratifying that today we see Köpmanholmen developing as a viable and sustainable place, with several legs to stand on and where new steps are being taken for companies to expand and establish themselves in the place. Now we are taking a sod for the green transition by manufacturing environmentally friendly fertilizer for agriculture from residual products from other industries

The Board thanks Anna for her commitment and contribution to the development of Cinis Fertilizer. Anna has contributed to the company’s clear growth and establishment strategy through valuable knowledge, which was important not least in connection with the stock market listing. We wish her the best of luck with her new assignment

We are pleased that both construction processes are going smoothly and according to plan. The fact that we now have building permits for the first two of our planned facilities gives us confidence in being able to keep the schedule with production at the beginning of 2024

We are very happy to have received the permit to start construction in Örnsköldsvik. It is an important milestone which means that we can start ground work and gradually start building the first production facility for fossil-free potassium sulfate