We drive and transform electrification through industry after industry.
Alelion Energy Systems AB was formed in 2006 to create product and system solutions within the new revolutionary lithium battery technology.
At this time, lithium-ion technology was in its infancy and the company was seen as a pioneer in the market. In the early years, Alelion focused on the technical development of products and the preparations for manufacturing of energy storage systems. Since lithium-ion technology was new at this time, the lead times for battery cells were often long. It was difficult to get the volumes desired and the quality of the cells varied. Therefore, Alelion initially aimed at providing the entire value chain, from battery cells to complete systems.
Investments in the technology increased as the expectations on the new technology continued to be met. Battery cells became increasingly available at affordable prices and lead times were shortened. In 2009, Alelion decided to focus solely on the development of energy storage systems and to be a link between battery cell manufacturers and major OEM customers who now began to demand complete energy storage systems.
The close cooperation with customers led Alelion to develop the business model that still is the foundation for the company's business today. In 2010, Alelion invested in developing a battery pack for EV Adapt’s electric Fiat. EV Adapt intended to sell an electric Fiat model to municipalities and other players who had the ambition to be environmental pioneers in using environmentally friendly electric cars. Although this was at an early stage of the electric vehicle, and the product was highly complex, Alelion succeeded very well with its technology development. EV Adapt's venture did not last, though, as large-scale car manufacturers caught up with their electric car solutions. Alelion decided to no longer focus on the automotive segment but to instead explore the possibilities within the industrial vehicles industry.
The company had from an early date begun to sell energy storage systems to customers in the industrial vehicle industry, including Kalmar Motors and their hybrid powered aircraft tugs, as well as smaller battery packs for golf carts. During this time, the company developed a number of technologically advanced and well-functioning solutions for different uses, but decided it needed to identify specific segments that would be worthwhile to invest in long-term. The company began to focus on the industrial truck market when Ikea Greentech and Fouriertransform come in as shareholders in Alelion. Alelion built the new segment jointly with its customers by developing a competitive product and business case that was attractive to the customer. Ikea, which wanted to integrate sustainability into its brand, approved Alelion's energy storage system and started using them in their industrial trucks. Pegroco Invest AB, which had been a shareholder since the start, acquired Ikea Greentech's holding in 2015 and became Alelion's second largest shareholder.
Alelion has been, since 2013, preferred supplier with two of the three largest global truck manufacturers and in 2014, these companies were able to launch 17 new models equipped with Alelion lithium-ion batteries.
The next leap was taken in 2016 when Alelion was listed on Nasdaq First North and also offered a rights issue of MSEK 101.5. Another MSEK 39.4 was raised in late 2017 through the redemption of a stock options program. The added capital has been used for the development of a whole new generation of modular batteries, to strengthen the sales function and broaden the business operations by creating an attractive service offering.
Alelion's history continues as we are progressing the company further. The next chapter of our story will no doubt be our decision in early 2018 to build Sweden's first factory for large-scale production of lithium-ion batteries for industrial vehicles. The factory is being built in Torslanda at Hisingen in Gothenburg.
Caterva GmbH was acquired in April 2018. Caterva is a German company specialising in advanced technology for optimisation of local energy storage. Caterva has developed a platform for connection and controlling of local energy storage, used for optimising the charging and utilisation of, for example, lithium-ion batteries. The technology offers lower energy costs as well as lower carbon dioxide emissions. Alelion will introduce the platform for its large-scale industrial applications customers. The company is today Alelion Energy Systems GmbH.