Swedish Stirling AB: Half year report 2022

Clean-tech company Swedish Stirling AB publishes its half year report for 2022 today.

Swedish clean-tech company Swedish Stirling AB is publishing its interim report for the period 1 January 2022 – 30 June 2022 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 quarter totalled TSEK 33 (TSEK -). Overall revenue and capitalised work for the quarter amounted to TSEK 461 (TSEK 16 484).

• The loss per share before dilution for the quarter was SEK -0.37 (SEK -0.13).
• Significant investments were made in the plant to handle serial production and associated testing prior to delivery.
• A delegation of Glencore’s management teams from both South Africa and Switzerland visited Swedish Stirling’s plant in Sibbhult to observe the production of the first PWR BLOK units to be produced for Lion Smelter in South Africa. They also visited the head office in Gothenburg for a presentation of Swedish Stirling’s R&D operations.
• Swedish Stirling hired Jonas Hedelin as its new Chief Financial Officer (CFO) and member of the company’s senior management. Jonas has previously been CFO of several listed companies. He assumed his position as CFO on 15 August.

Material events after the end of the period:

• Glencore International AG, Merafe Resources Limited and the af Jochnick family have undertaken to subscribe for preference shares in the event of a new issue of such shares later in the year, as planned by Swedish Stirling. The subscription undertakings amount to a total of SEK 37 million.

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 – 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 12:00 CET on 18 August 2022.