OX2 has completed the sale of the energy storage facility Bredhälla

June 12, 2024, 09:00

Non-regulatory

On April 3, OX2 announced the signing of an agreement to sell the energy storage facility Bredhälla in Sweden to Flower, a Swedish company active in energy technology and storage solutions. The transaction has now been completed following the approval from Svenska Kraftnät, the Swedish authority operating the transmission system.

OX2 started construction of Bredhälla, located in the municipality of Uppvidinge in Southern Sweden, in late 2022. The facility consists of batteries utilizing lithium-ion technology with a total capacity of 42.5 MW / 42.5 MWh spread across 20 containers.

Bredhälla will provide ancillary services to Svenska Kraftnät, the Swedish authority operating the transmission system, to ensure stability in the electricity grid. Additionally, it will also participate in wholesale markets by providing energy arbitrage.

Once commissioned, OX2 will be responsible for the technical and commercial management under a five-year agreement.

For further information, please contact:

Henrik Vikström
Investor Relations Director
Tel. +4670 952 80 06
henrik.vikstrom@ox2.com

Edvard Lind
OX2 Communication
Tel. +4672 727 11 17
press@ox2.com

About OX2 AB (publ)

OX2 develops, constructs, and sells renewable energy solutions at scale. OX2 also offer management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2023 was about 7.8 billion SEK. The company has about 500 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com

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