ALELION ENERGY SYSTEMS builds Sweden's first factory for large-scale production of lithium-ion batteries for vehicles

2018-01-29 - Alelion Energy Systems AB

Alelion Energy Systems has decided to build a factory in Gothenburg for the production of lithium batteries for use in, among other things, industrial vehicles. The factory is expected to be completed in 2018 and will be the first of its kind in Sweden. "We have developed and delivered lithium-ion batteries for more than ten years and seen how the market for these products has matured as the steadily increasing interest in electrification and sustainable energy solutions has," said Alelion Energy Systems CEO Daniel Troedsson. "With  a dedicated production facility, we are able to profitably take advantage of the commercial opportunities of Lithium technology."

Alelion Energy Systems is currently developing the next generation of lithium-ion batteries and the investment in the dedicated factory is being done to better meet different customer requirements and to seize the global potential of the new products. The funding includes the Gothenburg-based investment company Pegroco Invest AB and the state-owned venture capital company Fouriertransform AB.

"Our new Generation 3 batteries provide us with many more possibilities for industrial standardization and adaptation to specific requirements of different customer segments and markets", said Alelion CEO Daniel Troedsson. "With the new batteries and their own production facility, we can in a completely different way meet the sharp rise in global demand for lithium-ion batteries that follow in the wake of the need for more sustainable transport."

The factory will be built in the Volvo area in Torslanda on Hisingen and will initially have a technical production capacity of barely 500 MWh per year. The production line will have a high degree of automation but still allow completely customised production as a result of the new generation of batteries based on modules. Initially, some 20 people are expected to be recruited.

"Thanks to the flexible production model, the factory will be able to handle both current and future battery technologies, which is a major advantage in a market characterised by rapid technological development," says Daniel Troedsson.

Lithium-ion batteries are of great importance to the transition to more sustainable transport and lithium technology is today the predominant battery technology for electrification of vehicles such as cars and buses. Alelion started with lithium-ion batteries as early as 2006 and is a supplier to some of the world's largest forklifts, including Toyota Material handling and Jungheinrich. In the truck industry, a rapid transition from lithium-ion lead-acid batteries is underway, providing significant direct and indirect environmental benefits. Even better, lithium-ion batteries contain neither lead nor generate hydrogen when charging, they have a significantly higher energy efficiency and therefore provide less greenhouse gas emissions from carbon dioxide. Alelion’s own calculations show that if all trucks in Europe were to switch to lithium-ion batteries, it would result in a reduction of 3 million tonnes of CO2, corresponding to one tenth of Sweden's total annual emissions.

In recent years, interest in electrification and sustainable energy solutions has increased dramatically, which also paved the way for alelion expansion and investment in the dedicated factory.

"We have only just begun to explore the opportunities that lithium-ion technology provides for more sustainable energy solutions," said Daniel Troedsson. "The electrification of various types of vehicles was the starting point and the major breakthrough for lithium-ion technology, but we are now seeing how this technology can be used for everything from storing excess energy to balancing and optimizing energy use in homes and industries. "

For more information, please visit www.alelion.com or contact:

Daniel Troedsson

VD, Alelion Energy Systems AB (publ)

Tel: +46 707 51 67 10

e-mail: daniel.troedsson@alelion.com

The information in this press release contains insider information that Alelion Energy Systems AB (publ) will publish under the EU market abuse regulation. The information was provided by the contact person mentioned above for publication on 29 January at 12.10 CET

About Alelion Energy Systems AB (publ)

Alelion Energy Systems AB (publ) develops and sells lithium-ion batteries and energy storage systems. The focus is on the segment material handling and batteries for forklifts to replace today's lead-acid batteries and diesel engines. Lithium Ion technology is superior to lead-acid technology in all respects.

A lithium-ion battery is energy-efficient, lighter, longer-lasting and also contributes to significantly less environmental impact. The company currently has a leading position in this market. Read more at www.alelion.com

Alelion’s largest owner is Fouriertransform AB and the Gothenburg-based investment company Pegroco Invest AB. The company's share (ALELIO) is traded on Nasdaq First North Stockholm with the G&W Fondkommission as a Certified adviser, phone +46-8-503 000 50

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