Ann Linde On Site When Climeon Delivers the First Heat Power Modules in Iceland

Today, Climeon hosted a delivery ceremony as the first Heat Power modules were delivered to Varmaorka in Iceland. At the ceremony, Minister for EU Affairs and Trade Ann Linde, Ambassador Håkan Juholt and Iceland’s Minister of Foreign Affairs Gudlaugur Thór Thórdarson participated.

About fifty people attended Climeon’s delivery to Varmaorka’s first site in Iceland, Fludír. In addition to politicians, representatives from the Swedish Export Credit Corporation (SEK), the Swedish Export Credit Agency (EKN), other financiers and the Swedish Energy Agency, suppliers, partners and customers also participated.

– It is very pleasing that Swedish companies and innovations contribute to the growth of the Icelandic economy. The Climeon plant is an important investment for Iceland and represents an excellent example of how new technologies can create new opportunities, says Ann Linde, Swedish Minister for EU Affairs and Trade, speaking at the opening ceremony.

– Customer financing is an important key to the breakthrough we have had in our geothermal business in 2018. The fact that SEK and EKN contribute to attractive financing solutions is essential to our business and enables for Climeon to focus on achieving its goal – becoming the world’s number one climate solver”, says Thomas Öström, CEO of Climeon.

In connection with the delivery ceremony, presentations were held about the financial and technical challenges and solutions that exist for geothermal installations and the participants had the opportunity to visit the next two installation sites.

The delivery to Varmaorka consists of four Heat Power modules and is the first of a series of a total of 197 modules to be delivered to approximately 20 different sites over the next 36 months. On the 26th of June 2018, Varmaorka increased its order to 197 modules from the previous 100.

Iceland has one of the lowest electricity prices in the world, but the availability of electricity outside of Reykjavik is relatively limited. Climeon’s plants produce hot water locally and at a competitive cost around the clock, all year round.

For additional information, please contact: 
Thomas Öström, CEO, Climeon 
+46 708 94 96 05 
[email protected] 

Christoffer Andersson, COO, Climeon 
+46 762 00 72 99 
[email protected] 

About Climeon
Climeon is a Swedish product company within energy technology. The company’s unique technology for thermal power – “Heat Power” – provides sustainable electricity around the clock all year round, in abundance and cheaper than the alternatives, and thus outperforms other types of energy. Climeon aims to become a global leader and the world’s number one climate solver. The B share is listed on Nasdaq Stockholm First North Premier. Certified Adviser is FNCA Sweden AB