SaltX wins Helsinki Energy Challenge
Nasdaq First North-listed SaltX Technology AB wins the global competition - Helsinki Energy Challenge - with the best solution for a fossil-free city. The winners were announced at a digital awards ceremony and the prize of 1 million euros will be shared equally between the entries.
SaltX has previously announced that it has participated in the global innovation competition Helsinki Energy Challenge initiated by the City of Helsinki. The competition is now over and SaltX is together with Rebase Energy as one of four winners.
"This is an important milestone for SaltX. It confirms that our energy storage solution can play a central role in future fossil-free cities. In the work of finalizing the entry we have added even more competence to our team which we will use in our commercialization going forward, says Carl-Johan Linér, CEO of SaltX Technology and continues: "I would also like to take this opportunity to thank the City of Helsinki for being bold and showing the way for other cities."
SaltX and Rebase Energy's solution "Smart Salt City" offers a functional and sustainable system that is well suited to cities that have set the ambitious goal of carbon neutrality but have high energy consumption and need a reliable energy supply for their residents and businesses. The solution melds the beauty of novel energy storage (EnerStore) and artificial intelligence with commercially available energy technologies. The solution provides an opportunity for cities to use renewable energy sources in a safe and economical way, without having to plan for new and expensive infrastructure for hydrogen and avoid potential investments in new nuclear power to secure energy capacity.
Together with the remaining winning entries, SaltX and Rebase Energy will share EUR 1 million. The money will go towards continued development and future investments of both companies' technologies.
In a next step, SaltX and Helsinki will begin to discuss the implementation phase(s) of the proposed solutions.
The jury consisted of Hans Jørgen Koch (CEO, Nordic Energy Research), Markku Ollikainen (Chair of the Finnish Climate Change Panel), Robert Stoner (Deputy Director, Science and Technology, MIT Energy Initiative), Sanna Syri (Professor, Energy Technology and Energy Economics, Aalto University), Brian Vad Mathiesen (Professor, University of Aalborg), Martin Young (Senior Director, Scenarios and Business Insights, World Energy Council).
Read more about SaltX entry here:
saltxtechnology.com/helsinki/
For more information, please contact:
Carl-Johan Linér, CEO, +46 705 320 808
Harald Bauer, CFO, +46 708 108 034
About the Helsinki Energy Challenge
To find the best solutions for heating Helsinki in the future, the city of Helsinki has created the Helsinki Energy Challenge - a global competition with a prize of one million euros that will answer the question. The requirement is that the proposed solution will significantly contribute to the cessation of coal use in 2029 and accelerate the City of Helsinki's journey to becoming carbon neutral in 2035. For more information, visit: energychallenge.hel.fi
About Rebase Energy
Rebase Energy provides data and digital tools for optimisation of distributed energy resources. The Rebase Datahub providers access to high quality datasets for energy optimisation such as weather, market, and asset data. The Rebase Toolkit is an open-source developer tool to forecast, optimise and simulate smart agents for energy systems. Using the Rebase data and tools energy companies can reduce forecasts uncertainty by 20% and thereby improve the balance of supply and demand. For more information, visit: www.rebase.energy
About SaltX Technology
SaltX Technology develops and sells patented energy storage solutions based on nanocoated salt. SaltX's goal is to develop and offer sustainable technology solutions that benefit customers, climate, and society. SaltX Technology's share is listed on the Nasdaq First North Premier Growth Market. FNCA Sweden AB, + 468-528 00 399, info@fnca.se, is SaltX Technology's certified advisor. For more information, visit: www.saltxtechnology.com.
Stockholm, 2021-03-16
