Swedish Stirling signs LOI with Glencore in relation to its Lion smelter

Swedish Stirling and Glencore Operations South Africa Proprietary Limited (Alloys Division) (“Glencore”) have entered into a letter of intent regarding an electricity generation facility to be provided at Glencore’s Lion smelter by the installation of up to 88 PWR BLOKs.

Swedish Stirling and Glencore has today signed a letter of intent regarding discussions on a potential electricity generation facility at Glencore’s Lion smelter situated in Steelpoort, South Africa, comprising a possible installation of up to 88 PWR BLOKs corresponding to 35 MW. The parties will now enter into negotiation and the letter of intent does not place any obligation on either party to fulfil the

contemplated project unless and until a definitive agreement in writing in respect of the contemplated project has been reached and signed by the Parties.

Glencore’s Lion smelter is one of the world’s largest ferrochrome smelting facilities.

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 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 recovering energy from industrial residual and flare gases and convert them to 100 % carbon-neutral electricity with high efficiency. The PWR BLOK is – according to independent certification – the cheapest way of producing electricity that exist today and gives greater CO2 savings per invested Euro than any other type of energy source. The company’s shares are listed in Sweden on the NGM Nordic SME. 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 5 August 2020 at 14:00 CET.