SaltX receives a grant of approximately MSEK 20 from the Swedish Energy Agency (Energimyndigheten) for further development of electrification technology to produce emission-free quicklime.
The Swedish Energy Agency (Energimyndigheten) has decided to award a grant to SaltX Technology for the implementation of the project "Demonstration of new electric furnace technology on an industrial scale to enable emission-free quicklime production.
The Swedish Energy Agency motivates its decision by considering the project as a crucial step towards significantly reducing carbon dioxide emissions in connection with the production of quicklime. By electrifying the process, emissions from fossil fuel use are eliminated, and it allows for the capture of emissions occurring during the heating process. This means that EAC-innovation has the potential to completely eliminate process emissions in the industry. The project is also considered important for the transformation of industries such as the iron and steel industry, where emission-free lime reduces indirect emissions from these industries. Carl-Johan Linér, CEO of SaltX:
"It is very gratifying and important for us that the Swedish Energy Agency sees the potential in our technology and wants to accelerate the development and implementation of our solution in the lime industry."
Furthermore, the Swedish Energy Agency writes in its statement that the project is considered as highly innovative and has a huge global market potential. The application was submitted by SaltX with support from SMA Mineral in order to accelerate upscaling of the technology. Carl-Johan Linér, CEO of SaltX:
"The grant from the Swedish Energy Agency is a quality stamp for our technology and an important recognition for our company."
The grant covers a project period from November 2023 to the fall of 2025.
For more information:
Carl-Johan Linér, CEO, +46 70-532 08 08
Harald Bauer, CFO, +46 70-810 80 34
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This information is such information that SaltX Technology Holding AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the above contact persons, for publication on September 2023, at 14.00 CET.
About SaltX:
SaltX Technology is a Swedish green technology company that develops and markets sustainable technology beneficial to customers, the climate, and society. The company operates in electrification technology primarily for the lime and cement industry and large-scale industrial energy storage. SaltX Technology's stock is listed on the Nasdaq First North Premier Growth Market. For more information, visit: www.saltxtechnology.com.
About Electric Arc Calciner (EAC):
EAC is a patented technology for electric calcination, an industrial process where materials are heated to very high temperatures to alter their characteristics. The technology replaces fossil fuels with renewable energy and separates and isolates the carbon dioxide released from the material during heating, enabling a completely emission-free manufacturing process.
Stockholm, 2023-09-29