Highlights from 2022
This year is coming to an end and a new year with even more opportunities is arising. During this past year we experienced several great highlights we would like to take a look back at, such as the production start of the first ReOx® battery and the collaborations with Enequi and Mc Energy. A fully guaranteed rights issue was completed successfully and we welcomed trainees for a technical internship as part of a collaboration with the internship program Tekniksprånget.
Strategic partnership initiated with Enequi
In May, it was announced that Nilar and Enequi had entered into a strategic partnership for the development of customized energy storage solutions for the European market. Enequi is a Swedish developer and supplier of intelligent solutions for energy storage, energy control, and industrial automation. Enequi has also signed an initial order of 800 batteries from Nilar, with an associated battery management system (BMS), for 100 units of Enequi’s energy storage system, QuiPower Storage.
“Enequi has both the technical knowledge and capability required to create integrated solutions where our batteries and Enequi’s control work together optimally”, commented Erik Oldmark, CEO of Nilar.
Rights issue completed successfully
On June 20, the outcome of the fully guaranteed rights issue that was carried out during the second quarter was presented. In a tough market climate, 78 percent of the shares were subscribed to by existing and new shareholders. Together with commitments from guarantees, the rights issue generated a capital injection of approximately MSEK 273 before deductions of attributed costs. The aim was to ensure financing of Nilar’s new strategy and business plan and, together with existing cash, the net proceeds from the rights issue are expected to be sufficient to finance Nilar’s business plan until the end of 2023.
Nilar welcomed trainees for Technical Internship
In September we announced that we would take part in Tekniksprånget, an internship program that aims to attract young adults to continue with higher technical education. The need for engineering expertise has never been greater and the competition for engineers is intensifying. To cope with future challenges, more young people need to choose a higher technical education. Many hesitate to do so, especially young women. Tekniksprånget’s vision is to change that by motivating young adults to continue their studies in the technological field by inviting them to do practical internships.
Except the opportunity to develop solutions for a more sustainable future, our trainees have pointed out that the most exciting part of doing their internship at Nilar, is that they get assigned tasks at a variety of departments, such as mechanical engineering, chemistry, system development and production technology. The internship provides both interns with insights into what different engineering professions can offer, which can be useful knowledge before selecting a topic for future technical studies.
Production start of Nilar ReOx® batteries
In October we took an important step and started production of the next generation batteries at the facility in Gävle. The battery is the first to feature a technology called ReOx, which allows used batteries to be refilled with oxygen to restore the original battery capacity. The ReOx technology was developed in collaboration with researchers at Stockholm University.
“Until today, batteries that have reached their practical lifespan have been exhausted and unusable. With the ReOx technology, our batteries can be restored to their original storage capacity at least 3 times, which can further extend their life by several years. This means both greatly reduced resource use and major cost savings for the users. This is obviously a big and important step forward for Nilar”, says Erik Oldmark, CEO of Nilar International AB.
Letter of Intent signed with Mc Energy
Another significant partnership development was the signing of a letter of intent with Dutch Mc Energy B.V. in November. Mc Energy specializes in the design and production of advanced energy storage solutions. Mc Energy develops customized energy storage systems that are primarily aimed at industrial users.
“The letter of intent is a milestone in Nilar’s strategic approach. Mc Energy complements existing collaborations and offers additional areas of use for Nilar’s advanced battery technology”, commented Erik Oldmark, CEO of Nilar International AB.
We look forward to what 2023 has to offer and wish you all Happy Holidays from Nilar!