First commercial order in Sicily for Ripasso Energy

Horizon S.R.L orders three hybridised Stirling engines from Ripasso Energy for delivery to a first commercial facility in Sicily.

The newly-commissioned facility, consisting of a total of three units, will be delivered during the first quarter of 2018. The order also includes auxiliary systems, such as mirrors and trackers. This will be the first commercial plant based on hybridised Stirling engines and will, under the governmental program for renewable energy, generate and sell electricity to the Italian company Enel. 

“The order is an historic breakthrough for Ripasso Energy and will result in us having our first commercial facility in operation within less than a year’s time! It will serve as an important reference for the viability of our technology,” says Gunnar Larsson, CEO and founder of Ripasso Energy. 

This is the first order from Horizon, and Ripasso Energy is expecting that the financing and licensing for at least 100 engines will be completed by the autumn of this year. Any engines ordered by that time will be scheduled for delivery in 2018.  

Ripasso Energy was founded in 2008 by Gunnar Larsson, former CEO of Kockums AB. The same year, an exclusive license for civil use of Kockums’ Stirling technology was obtained. From that point, Ripasso Energy has managed to develop a hybridised Stirling engine capable of generating electricity at any time or on any day of the year, with highest possible renewable fraction. The majority of the development work is now completed and the company is expecting to be delivering the first production-line manufactured engines to customers by 2018. 

Horizon S.R.L is an Italian company with extensive experience of realising renewable energy projects. Based in Sicily, Horizon has, during its eleven years of operations, installed over 2,000 renewable energy plants, totalling 90 MW. Ripasso Energy and Horizon entered a partnership in the spring of 2016, which entails that Horizon will assume responsibility for the development, completion and financing of projects where the engine and software of Ripasso Energy is employed.  

This information is information that Ripasso Energy 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 07:00 CET on May 8, 2017.