Alelion Energy Systems signs contract with Huddig AB to develop high voltage batteries for construction machinery

2019-12-19 - Alelion Energy Systems AB

Alelion Energy Systems AB (publ) has signed a contract with the Swedish construction machinery manufacturer Huddig AB to develop high voltage batteries. These are hybrid batteries to be used in the development of a hybrid model of the Huddig backhoe loader and excavator, “TIGON”. The order includes development and production of an initial prototype battery and delivery is expected during the second quarter 2020. Total worth is around MSEK 1.8.

Huddig AB is the backhoe loader and excavator market leader in Sweden and has manufactured over 10,000 machines since starting in 1959. Through working with Alelion Energy Systems the company intends to produce a hybrid model of Huddig’s best-selling backhoe loader and excavator. This hybrid backhoe loader and excavator will have a drive line combining a combustion engine with a number of electrical engines powered by a lithium-ion battery.

With this order Alelion is making the first inroad into the construction machinery market. Over the last year the company has been focusing more and more on the special vehicle segment that is characterized by more advanced and customized battery solutions. In step with the growing awareness of climate effects and health-damaging emissions, increasing numbers of special vehicle manufacturers have begun looking at ways to electrify with the help of lithium-ion technology.

“ Our long experience of lithium-ion technology and our high technical expertise mean that we have every possibility to develop the type of customized high voltage batteries that are most often required in the special vehicle segment,” says Åsa Nordström, Acting CEO, Alelion Energy Systems. “This is a segment where demand for lithium-ion batteries is growing in step with increasing environmental requirements.”

 “We look forward to working with Alelion Energy Systems in developing a lithium-ion battery for our fully hybrid backhoe loader and excavator, Tigon. Their experience in developing and producing batteries for vehicles is an excellent complement to our expertise in developing advanced construction machinery. The demand for hybrid machines in construction is expected to rise dramatically in order to minimize emissions and noise, not least in sensitive surroundings and urban environments,” says Lars Lindahl, CEO Huddig.

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.

Find press releases, reports, prospects and company presentations at https://www.alelion.com/sv/investerare

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: ca@gwkapital.se, phone: +46 8-503 000 50.

 

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