Swedish Stirling AB: Q3 report 2019

Clean tech company Swedish Stirling AB publishes its report for the third quarter 2019 today

Swedish clean tech company Swedish Stirling AB is publishing its interim report for the period 01-07-2019 – 30-09-2019 today. The report is available for download in its entirety on the company’s website. Material events during the period include the following: 

• Signs an exclusivity agreement with Glencore Operations South Africa Proprietary Limited (Alloys Division) (“Glencore”). 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 which, at completion, is estimated to generate annual revenue of MSEK 40 (3.75 MEUR).
• Launches a brand new type of loan that remove large quantities of carbon credits permanently. The first lenders will be the founders of Oriflame – the af Jochnick family.
• Initiates a collaboration with Prospero Acceleration AB with the aim of strengthening patent protection as the company’s technology becomes more public.
• Hires Heléne Germundsdotter Öqvist as Chief Financial Officer (CFO) and member of the company’s management team. The recruitment is an important step towards the company’s ambition of being listed on the Nasdaq Stockholm Main Market in the first half of 2020.
• Resolved at the Extraordinary General Meeting on September 2019 to carry out an issue of convertible bonds of up to MSEK 53, with deviation from the shareholders’ preferential right.
• Engages Longspur Research for ongoing research of the company. The collaboration is part of an effort to increase understanding of and interest in Swedish Stirling among institutional investors. The mandate also includes organising regular investor meetings.

Material events after the end of the period:

• The conversion period for Swedish Stirling’s convertible bond STRLNG KV1 initiated on October 1, 2019. The conversion period runs from October 1, 2019 to November 18, 2019. The conversion rate, after being recalculated according to the terms and conditions for KV1, is 4.40 SEK per share. The new shares following conversion are estimated to be registered by the Swedish Companies Registration Office on or around 27 November 2019 and are expected to be traded on Nordic MTF on or around 29 November 2019.

For further information please contact:

Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30  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 08:00 CET on November 12, 2019.