Ripasso Energy delivers its first PWR BLOK units
Today Ripasso Energy AB ships the first PWR BLOK 400-F of the seven ordered by South African ferrochrome producer Afarak Mogale. Installation and commissioning will take place in Q1 as planned.
Today Swedish cleantech company Ripasso Energy AB ships the first PWR BLOK 400-F unit out of the Port of Gothenburg. Installation and commissioning at ferrochrome producer Afarak Mogale’s South African plant is expected to take place in the latter part of Q1. The delivery is the first of seven PWR BLOK units ordered by Afarak in December 2017.
The PWR BLOK 400-F is a unique Swedish product developed by Ripasso Energy AB in which the company's Stirling engines convert industrial residual gases into climate-friendly electricity at half the cost compared to the second cheapest way of generating electricity today. Each PWR BLOK unit reduces global carbon dioxide emissions by approximately 3,500 tonnes/year, which is equivalent to about as much carbon dioxide as is emitted annually by 2300 cars in Sweden.
“It’s a great day for us at Ripasso Energy. Less than a year and a half after launching the PWR BLOK we are now shipping the first commercial product to an end customer. This delivery brings us one step closer to a major business breakthrough for the company,” says Gunnar Larsson, CEO of Ripasso Energy.
Ripasso Energy inked the agreement for seven PWR BLOK 400-F units with Afarak just three months after the product was launched. The order value of the deal amounted to EUR 3.7 million. In October 2018 Ripasso Energy AB signed a letter of intent with the South African ferrochrome producer Glencore for the installation of at least 44 and no more than 136 PWR BLOK units at Glencore’s Lydenburg facility and/or its Lion facility in South Africa. The order value amounts to between EUR 22 and 68 million. The parties intend to enter into binding agreements by no later than 31 March 2019. The project may become the largest waste-to-energy project of its kind in Africa. The solution reduces Glencore's carbon dioxide emissions caused by electricity consumption by between 154,000 and 476,000 tonnes/year.
For further information please contact:
Sven Ljungberg, CCO, Ripasso Energy AB, ir@ripassoenergy.com.
About Ripasso Energy
Ripasso Energy is a Swedish cleantech company founded in 2008 with a mission to further refine the incomparable ability of Stirling technology to convert thermal energy to electricity. The company offers a variety of solutions enabling power generation at record-low prices compared to other climate-friendly and sustainable alternatives. Ripasso Energy’s Stirling engine can handle a wide range of fuels. The company’s latest product, the PWR BLOK 400-F, converts industrial residual and flare gases into electrical energy at a high rate of efficiency. The company’s shares are listed in Sweden (on the NGM Nordic MTF), and can also be traded on the Börse Stuttgart in Germany. Read more at www.ripassoenergy.com.
