Nilar signs record offtake agreement - Indutecc orders batteries for SEK 110 million
Nilar International AB has signed a new offtake agreement with Indutecc Renewable Solutions to deliver ReOx® batteries for integrated energy storage systems. The new agreement entails an order of EUR 10 million, or approximately SEK 110 million.
On May 7, Nilar International AB signed an offtake agreement with Indutecc Renewable Solutions. Indutecc is a leading manufacturer of electrical systems and automation solutions in the Netherlands, and the agreement represents a next step in the collaboration that began earlier this year. The company has long been an established specialist in technology and consultancy in solar energy installations and energy storage systems and is part of the 100-year-old Dutch family group Schuurman Group.
For a few months now, Indutecc and Nilar have been working in a joint development project to integrate Nilar's ReOx® batteries into Indutecc's energy storage solution for the commercial real estate market segment with system sizes between 50 and 500 kWh.
- The agreement we sign with Indutecc is the largest in Nilar's history. It is not only a statement of strength for our unique batteries with a focus on safety and sustainability, but also an important step closer to our high-set goals, says Erik Oldmark, CEO of Nilar International.
The batteries will be delivered starting in March 2024. Indutecc has previously acquired a number of energy systems from Enequi in which Nilar's batteries are integrated, the goal is to sell around thirty finished solutions in 2023.
- Nilar's unique battery technology with strong advantages in sustainability and safety fills an important and clear need in the market as well as for the green energy transition. With the new agreement, we ensure an important piece in being able to offer high quality energy storage solutions with innovative functions for our customers energy challenges, says Rino van Deventer, CEO of Schuurman Group.
For further information, please contact:
Erik Oldmark, CEO
+46 70 432 4444
erik.oldmark@nilar.com
Press contact:
Matilda Ekman Vråmo
+46 72-213 01 28
matilda.ekman.vramo@nilar.com
About Nilar:
Swedish-based Nilar International AB develops and manufactures batteries that are part of stationary energy storage systems. With better energy storage, society can support the increasingly stressed electricity grid by bridging imbalances between energy production and demand, especially important as the share of renewable energy sources increases. Nilar's battery technology is based on nickel metal hydride (NiMH) electrochemistry with a water-based electrolyte, which provides higher safety while allowing the components to be recycled and reused. Nilar has its headquarters in Täby and since 2012 all batteries have been developed and produced in the production facility in Gävle, which is powered by 100% renewable energy.
The Nilar share is listed on the Nasdaq First North Premier Growth Market under the ticker NILAR. FNCA Sweden is Certified Adviser. For more information see www.nilar.com.
This information is information that Nilar International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2023-05-08 08:00 CEST.
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