Enersize signs new installation agreement with Hankook Tire

English translation of earlier released news: Enersize Oyj ("Enersize") has signed an installation agreement with Hankook Tire (Jiaxing) Co., Ltd, ("Hankook Tire") in cooperation with Venergy. The agreement has been signed with Enersize Chinese partner Venergy as a contractual partner. The factory's compressed air system is large and uses between 45,000-55,000 MWh / year. Enersize’s part of the annual savings achieved in the project will be agreed with the customer in a second project phase when the savings potential, which has not yet been estimated, has been measured and identified by the Enersize system.

Hankook Tire is a new customer for Enersize. Their factory has an installed compressor capacity of over 7MW and an annual consumption of approximately 45,000 - 55,000 MWh.

Hankook Tire is the world's 7th largest tire manufacturer and one of the largest tire manufacturers in China. The company has factories all over the world, as well as factories in Jiangsun, Jiaxing and Chongqing in China. The factory in Jiaxing produces tens of millions of tires annually.

Enersize will utilize its new patent pending automated analysis as an essential part of analysis and execution. The installation is scheduled to commence in August 2018. The installation agreement includes a letter of intent with the customer to negotiate terms of profit sharing agreements as a second project phase, when the savings potential has been measured and identified.

Christian Merheim, Chairman of the Board Enersize, comments:

"Hankook is a very attractive customer. They are internationally well-known, both in the B2B and consumer markets, and they have a strong presence with their own factories in China, where they also managed to take a market-leading position among domestic competitors. In addition, it is a large plant with good savings potential, which motivates us to speed up the process by starting step-by-step with an installation contract. It also shows that Enersize partner Venergy is able to continuously deliver high quality customer projects."

Sami Mykkänen, CEO Enersize, comments:

"As we previously published, we have a large customer pipeline and this is one of the projects we have worked on during spring and summer. We expect to continue to present more realized projects based on the customer pipeline during the current and coming quarters.

With this project, we are expanding to another sector in the automotive industry. One of Enersize's main goals is to reduce global energy use and CO2 emissions and a large part of a vehicle's emissions during its life cycle comes from the manufacturing of the car. With a high level of presence in the automotive industry and suppliers to the automotive industry, it is pleasing to be able to contribute to reduced emissions 

For more information about Enersize, please contact:

Christian Merheim, Executive-Chairman of the Board

Phone: +46 (0) 708-182 853

Email: christian.merheim@enersize.com

Or (English only):

Sami Mykkänen, CEO

Tel: +358 405 59 90 47

Email: sami.mykkanen@enersize.com

This is an unofficial translation of earlier disseminated regulatory news in Swedish. For any discrepancies in the text we refer to the Swedish version.