Swedish Stirling AB: INTERIM REPORT 2019

Clean tech company Swedish Stirling AB publishes its interim report for 2019 today.

Swedish clean tech company Ripasso Energy AB is publishing its interim report for the period 01-01-2018 – 30-06-2018 today. The report is available for download in its entirety on the company’s website. Significant events during the period include the following: 

• Sven Sahle, Ulf Gundemark, Andreas Ahlström, Benedict Morgan and Gunilla Spongh were re-elected as members and Erik Wigertz was elected as new member of the Board. Sven Sahle was re-elected as Chairman of the Board.
• Authorisation for the Board of Directors to issue new shares. The Board of Directors is authorised to issue new shares up to a maximum of 20 per cent of the Company’s share capital without shareholder’s preemptive rights.
• According to the resolution from the AGM the company’s name was changed to Swedish Stirling AB.
• Lloyd’s Register has certified PWR BLOK is the cheapest way to generate electricity in existence today, and that the technology yields greater CO₂ savings per Euro invested than any other type of energy source.
• Swedish Stirling has renegotiated the agreement with South African Afarak Mogale (Pty) Ltd. The new agreement implies that Afarak Mogale will buy electricity produced by the PWR BLOK instead of owning the equipment itself.
• Swedish Stirling AB plans to apply for listing on a regulated market during the first half of 2020. The Board’s decision is to apply for listing on the Nasdaq Stockholm Main Market.

Significant events after the end of the period:

• Swedish Stirling AB has signed an exclusivity agreement with Glencore Operations South Africa. The agreement gives Swedish Stirling exclusivity to negotiate an installation of initially up to 25 PWR BLOK 400-F to a 9.9 MW power generation facility estimated, at completion, to generate annual revenue of MSEK 40.

For further information please contact:

Sven Ljungberg, CCO, Swedish Stirling AB,  ir@swedishstirling.com. 

About Swedish Stirling

Swedish Stirling 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 offers a variety of solutions enabling power generation at record-low prices compared to other climate-friendly and sustainable alternatives. Swedish Stirling’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.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 07:00 CET on August 13, 2019.