Swedish Stirling and SMS group sign a memorandum of understanding
Swedish Stirling AB (publ) and SMS group GmbH have signed an agreement regarding the use of the PWR BLOK technology for energy recovery projects in Europe within the ferroalloy industry, and the parties have expressed an intention that a first pilot project shall consist of one PWR BLOK 400-F.
The Swedish cleantech company Swedish Stirling has today signed an agreement with the SMS group in order to start using Swedish Stirling’s PWR BLOK technology for energy recovery projects in Europe within the ferroalloys industry. PWR BLOK 400-F is a container-based solution in which Stirling engines are used to recover energy from flare and industrial residual gas combustion. This new energy recycling method is developed by Swedish Stirling and allows for significant electricity and cost savings to industries, as well as reduction of their CO2 emissions. The focus of the cooperation between the companies will initially be in the Spanish market. The parties have expressed an intention that a first pilot project shall consist of one PWR BLOK 400-F.
- A collaboration with SMS group enables a faster establishment and roll-out of PWR BLOK, as well as an expansion of areas of use of the technology. It also means that Europe will very likely be the first market for PWR BLOK outside South Africa, says Dennis Andersson, Chief Marketing & Sales Officer at Swedish Stirling.
- SMS group have always been dedicated to green production and building eco-compatible plants. PWR BLOK is a recycling technology that will accelerate the global metal industry’s ambition to reach net zero missions and lower production costs, says Thilo Wübbels, General Manager Environmental Technologies at SMS group.
For further information please contact:
Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30 ir@swedishstirling.com.
About SMS group
SMS group is a group of companies internationally active in plant construction and mechanical engineering for the steel and non-ferrous metals industry. The SMS group has approximately 14,000 employees who generate worldwide sales of more than EUR 2.9 billion. The sole owner of the holding company SMS GmbH is the Familie Weiss Foundation.
About Swedish Stirling ABSwedish 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, on 18 March 2021 at 17:15 CET.