Swedish Stirling AB: Half year report 2021

Clean-tech company Swedish Stirling AB publishes its half year report for 2021 today.

Swedish clean-tech company Swedish Stirling AB is publishing its interim report for the period 1 January 2021 – 30 June 2021 today. The full report is available for download on the company’s website. Material events during the second quarter include the following: 

• Net sales for the period amounted to TSEK - (TSEK -). Total operating income for the quarter was TSEK 16,484 (TSEK 11,876). Earnings per share, before dilution, for the quarter was SEK -0.13 (SEK -0.18).

• Swedish Stirling AB and Glencore Operations South Africa Proprietary Limited, on behalf of Glencore Merafe Venture, signed an agreement for an energy conversion service with the installation of 25 PWR BLOK 400-F units (10MW) at Glencore Merafe’s ferrochrome smelter Lion in South Africa. The project is part of Glencore’s ambition to achieve net zero emissions by 2050.

• Swedish Stirling conducted a directed new share issue of 13,240,000 shares. The directed share issue generated a large interest among both new Swedish and international institutional investors, as well as existing shareholders. The subscription price was set, based on an accelerated bookbuilding process, at SEK 17.00 per share. Swedish Stirling raised a total of SEK 225,080,000 before transaction costs.

• The company has hired Christian Nilsson as its new Chief Technology Officer (CTO) who will assume his duties on 1 September. Christian is going to run the company’s technology and research division and will play an important role in increasing the company’s production volumes in the autumn, as well as working on extending the areas of use for the PWR BLOK’s technology.

• Swedish Stirling’s Board of Directors resolved to appoint Dennis Andersson as the company’s deputy CEO. The appointment means that Dennis Andersson will serve as deputy for Gunnar Larsson, the CEO of Swedish Stirling, at the same time as retaining his present position as Chief Marketing & Sales Officer.

For further information please contact:

Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30  ir@swedishstirling.com. 

About Swedish Stirling AB

Swedish Stirling AB is a Swedish clean-tech company founded in 2008 with a mission to further refine the incomparable ability of Stirling technology to convert thermal energy to electricity. The company’s latest product – the PWR BLOK 400-F – is a unique proprietary solution for recycling energy from industrial residual and flare gases and converting these into 100% carbon-neutral electricity at high efficiency. According to an independent certification, the PWR BLOK is the cheapest way to generate electricity that exists today, yielding greater CO₂ savings per krona invested than any other type of energy. Swedish Stirling AB is listed on Nasdaq First North Premier and FNCA Sweden AB is appointed Certified Adviser, +46(0)8-528 00 399, info@fnca.se.  Read more at www.swedishstirling.com

This information is information that Swedish Stirling AB (publ) 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 11:30 CET on 18 August 2021.