SaltX enters strategic partnerships to scale up production of Nano Coated Salt
Stockholm – November 9, 2018
The energy storage company SaltX Technology (SALT:B) – listed on NASDAQ First North Premier – has signed a Letter of Intent with Finnish Nordkalk Corporation – a leading supplier of limestone-based products as well as a strategic Supply Agreement with German WACKER Chemie AG – a global supplier of silica-based coating material. The objective is to initiate large-scale manufacturing of the SaltX NCS material as SaltX is entering the commercialization phase of EnerStore.
While Nordkalk becomes SaltX preferred European manufacturer of SaltX patented Nano Coated Salt (NCS) - consisting mainly of calcium oxide - WACKER delivers the silica-based coating material in the NCS. The initial target capacity in full-scale production will be 10,000 tons of NCS, which is equivalent to 4,000 MWh of thermal energy storage.
”With the partnership with Nordkalk and WACKER, SaltX gets the best of two worlds: Both companies have the required technical know-how, production capabilities and financial resources to manufacture and supply the NCS at the right quality and in the quantities we need to meet the projected global demand of our NCS in the coming years”, says Karl Bohman, CEO of SaltX Technology.
Over the last six months, SaltX conducted and completed comprehensive technical feasibility studies together with both Nordkalk and WACKER. While WACKER has supplied the silica-based coating materials, Nordkalk has started pilot production and already produced several tons of the SaltX NCS based on SaltX recipe and specifications.
”We are proud to support SaltX for this interesting and important application. We will further contribute to SaltX success, and their market goals”, says Maria-Anna Biebl, Director Business Team for Pyrogenic Silica at WACKER.
WACKER supplies the silica-based coating materials for the 25 tons of SaltX NCS, which Nordkalk is now producing for the Vattenfall project to be delivered within the next month.
”Energy storage is an interesting market and SaltX is an interesting company. We are ready to support SaltX and ramp up the production to meet the growing demand for this material”, says Thomas Eriksson, Chief Commercial Officer at Nordkalk.
The objective of the Letter of Intent with Nordkalk is to enter into aSupply & Licensing Agreement before the end of the year.
Nordkalk Corporation – www.nordkalk.com – is the leading supplier of limestone-based products in Northern Europe. With headquarters in Pargas Finland, Nordkalk has production in more than 20 locations in the Baltic Sea area, Central Europe, Norway and Turkey. The company employs 1,000 people and has a turnover of approximately EUR 300 million. Nordkalk is owned by Rettig Group.
WACKER Chemie AG – www.wacker.com– is a global chemical company founded in 1914 by Dr. Alexander Wacker and headquartered in Munich. WACKER has four business divisions, of which WACKER SILICONES is the largest in terms of sales. WACKER currently operates 23 production sites and has sales offices in 31 countries worldwide, supplying over 3,200 products to more than 3,500 customers worldwide. The group has nearly EUR 5 billion in revenue and 13,800 employees.
About SaltX Technology
SaltX Technology – www.saltxtechnology.com – develops and sells patented energy storage technology. Main customers are major global OEM partners and energy companies such as Alfa Laval, Vattenfall, Mobile Climate Control and Rheem. SaltX Technology's share is listed on Nasdaq Stockholm First North Premier. SaltX Technology’s Certified Adviser is FNCA Sweden AB.
For further information, please contact:
Karl Bohman, CEO SaltX Technology, tel: +46-705 600 268