Alelion signs framework contract with Cargotec to develop and supply high voltage batteries and receives orders for battery prototypes and electrification
2019-12-19 - Alelion Energy Systems AB
Alelion Energy Systems AB (publ) has signed a framework contract with Finnish Cargotec Corporation to develop and supply high voltage batteries for electrification of industrial vehicles. On signing the contract Alelion received an order from a Cargotec subsidiary to develop and deliver two high voltage battery prototypes. The prototypes will be used for electrification of hydraulic systems.
Finnish Cargotec is a leading provider of cargo and load handling solutions and services. In 2018 Cargotec’s total sales were approximately 3.3 billion Euro (just over 35 billion SEK) and the corporation employed around 13,000 people. Cargotec has three business areas: Kalmar, Hiab and MacGregor, all with very strong market positions in cargo and load handling for manufacturing industries, ports, on-road and marine. With the goal of reaching a higher proportion of electrified products within the corporation, Cargotec has signed a framework contract with Alelion Energy Systems to develop and supply high voltage batteries. In connection with signing the contract the Cargotec subsidiary placed an order for the provision of two prototypes for electrification of hydraulic systems.
These prototypes are based on a high voltage version of Alelion’s third generation lithium-ion battery. The third generation high voltage batteries recently passed the tests for battery certification in accordance with the international standard ECE-R100, which is a condition that must be fulfilled for batteries to be used in road-going vehicles. Alelion’s battery system is module based and can therefore be adapted for different customer categories and product segments. The third generation battery system is also specially developed for efficient production in Alelion’s new and highly automated battery factory in Gothenburg.
– Due to environmental and climate concerns a wide-ranging changeover is currently taking place in a large number of segments where there is a drive to electrify both vehicle propulsion and hydraulic systems, says Åsa Nordström, Acting CEO for Alelion Energy Systems. This brings Alelion great opportunities and with our long experience, our new batteries and our new factory we are well prepared to play our part in this changeover.
– We see how more and more manufacturers of special vehicles are beginning to explore the possibilities of electrification using lithium-ion batteries, from construction machinery to container trucks, says Åsa Nordström. This framework contract and order demonstrate an exciting development in yet another type of special vehicle and are further evidence of steadily increasing electrification.
For more information, please contact: Åsa Nordström, Acting CEO
Alelion Energy Systems AB
+46 702-90 18 58
This information is such as Alelion Energy Systems AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation and the Market Securities Act. The information was provided by the above person for public disclosure on 16 December 2019 at 08:30 CET.
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Alelion Energy Systems AB
Alelion Energy Systems AB is a leading manufacturer of industrial energy storage systems based on lithium-ion technology. A lithium-ion battery is more energy efficient, lighter, lasts longer and also contributes to considerably lower environmental impact.
In step with the growth of climate threat and the urgent need to convert to more sustainable energy systems and more sustainable use of energy, an increasing number of sectors have begun to explore the possibilities offered by lithium-ion technology and this is opening up new markets and segments for Alelion. Through the development of smart software based control systems new business opportunities have evolved linked to lithium-ion technology in the energy management area where Alelion can offer solutions.
In 2019 Alelion opened Sweden’s first factory for large-scale production of lithium-ion batteries for industrial vehicles. Read more at www.alelion.com
Alelion’s major owners are Pegroco Invest Fouriertransform. The company's share (ALELIO) is traded on Nasdaq First North Stockholm with G&W Fondkommission as Certified Advisor, e-mail: firstname.lastname@example.org, phone: +46 8-503 000 50.