Hot water into electricity

EREVITA Team, 25.10.2019 19:58:08

Climeon has been selected as a top 100 innovative solution provider with a large potential to significantly reduce carbon dioxide emissions by Mission Innovation, a global initiative consisting of 24 countries and the European Commission. The solutions were presented as a part of the 1.5°C Compatible Solutions Framework aiming to help investors identify technologies with the largest potential to tackle climate change.

EREVITA Team, 25.10.2019 20:11:39

Geothermal heatpower plant in Fludir/Icelan performs about 20kW per l/s with 99% up-time.

Gabriel, 25.10.2019 21:48:18

my favourite EQ

Gabriel, 25.10.2019 21:57:51

my favourite EQ ;)

EREVITA team, 5.11.2019 12:06:36

INCREASED DELIVERIES BUT SLOW ORDER INTAKE The third quarter can be summarized as a demanding period in which new orders have not been achieved, while we have seen good progress in our chosen geographical markets and segments, and more than tripled the revenue. To increase the order intake, we have in the past months strengthened and re-organized the sales organization, which is now focusing on rolling out our technology in our prioritized markets and segments. We have in several cases underestimated the complexity of the sales and delivery processes where external factors such as grid capacity, building and drilling permits and landlease agreements have had a large impact on the speed of the projects. This, together with partially unaccustomed customers, has made it difficult to get an overview of the projects and has extended lead times. We have seen these effects not only in Iceland and Japan, but also in Hungary and Germany. We have in recent quarters increased and refined our sales efforts in the marine and industrial segments. We are working systematically to bring up the first power plant in each geographical market, with Japan being next. After more than a year of hard work, we have now received most of the permits for the first power plant in Japan and the work has continued according to plan during the quarter. At the same time, the planning of the second power plant is underway. The goal is to be able to install the modules during the first and second quarters of next year. Despite the time required for these first power plants, our view of the potential in Japan has been strengthened, the political opinion is moving in the right direction and we have increased our local presence. In Iceland, we clearly see the value of having a power plant to demonstrate on location in the country. Landowners, municipalities, banks, grid owners and electricity producers require to see accurate measurement data and stable power generation to take the next step. The handover of the first power plant to the customer, high uptime and stable power generation with good performance enables us to begin the next phase of the roll-out in Iceland. The planning of the next power plants that will be built during the first half of 2020 is under way. An important milestone in the maritime segment is that Climeon for the first time has been approved in a Factory Acceptance Test for a customer within container freight. The Heat Power module was brought onboard the ship during the third quarter and the installation continues during the fourth quarter. A number of steps remain in the certification process, which allows for product approval for the first container ship, opening up a larger part of the maritime industry. Commissioning, and thus revenue recognition, can only take place when all approvals are in place. Previously, Climeon’s Heat Power modules have been delivered to five different cruise ships: Viking Grace 2015 and then the newly built Viking Glory and the three Virgin Voyages vessels.

EREVITA Team, 9.12.2019 14:53:32

Climeon has won a first order in the United Kingdom worth SEK 19.7 million, including software licenses and service fees. The order is the first where Climeon’s Heat Power modules will be utilized to recover waste heat from reciprocating engines based on natural gas. - We are very proud of this first order within power plants based on reciprocating engines, an industry with a strong growth potential. Power plants based on reciprocating engines are often used to balance solar and wind power plants and our Heat Power modules both increase efficiency and reduce carbon dioxide emissions, says Thomas Öström, CEO of Climeon. The Heat Power modules will be installed at Energy Circle Project 1 in the East Midlands, owned by Energy Circle PLC and maintained by engineering firm CooperÖstlund Ltd. The modules are scheduled to be installed during the end of 2020. Energy Circle and CooperÖstlund are developing a fleet of Flex Power plus power plants based on Natural Gas and Liquefied Natural Gas (LNG) reciprocating engines and will be delivering power to the national UK Electricity Grid. The Climeon Heat Power modules are part of a highly efficient power plant concept, where the modules help increase efficiency of the power plant, and thus decrease CO2 emissions. - The Heat Power modules are a great way to improve the efficiency of the engines and decrease the emissions. We look forward to continuing and extending our cooperation with Climeon, says Duncan McPherson, CEO of CooperÖstlund. Reciprocating engines are highly efficient, distributed and modular power generators, technologically similar to the engines used in the maritime segment where Climeon has been active since 2015. These power plants are used to produce a baseload power and to balance the grid stability, a need that has increased with the rising amounts of intermittent solar and wind power projects that have been installed in recent years.

EREVITA Team, 20.12.2019 13:04:51

Climeon has entered into a collaboration agreement with the New Zealand-based geothermal minerals firm Geo40 to strengthen the companies’ geothermal offering and enable an expansion into waste heat recovery at existing geothermal power plants, so-called bottoming cycles. The companies will be working together to establish a first combined mineral extraction and power production plant during 2020. Geo40 has developed a technology to extract silica and other minerals from geothermal brine, the hot wastewater that remains after high temperature geothermal power production. The silica in the brine causes scaling in geothermal pipes and wells and limits the heat that can be extracted and utilized for power generation. By extracting and removing the silica and other valuable minerals like lithium, Geo40’s technology reduces operating costs for geothermal power stations, while producing sustainably sourced minerals. The filtered water from Geo40’s application can then be utilized in Climeon’s Heat Power modules to produce clean electricity and increase power output at geothermal power stations. Bringing together the two firms’ technologies opens up a wide range of global opportunities, particularly in recovering waste heat from existing geothermal power plants, so called bottoming cycles. - We’re happy to announce this strategic collaboration with Geo40. By combining our Heat Power modules with Geo40’s technology for extraction of silica and valuable minerals we can strengthen our geothermal offering and open up a new part of the geothermal market, says Thomas Öström, CEO of Climeon. - We believe that our patented technology for silica removal combined with Climeon’s technology for waste heat recovery is an exciting development for the geothermal industry and will be exploring the possibilities of a first common project, says John Worth, CEO of Geo40. More than half of the world’s geothermal power plants have waste heat in Climeon’s temperature range that is currently not utilized for power production. By partnering with Geo40 to remove the silica from the brine, the waste heat can be utilized for power production, which opens up a new part of the geothermal market for Climeon. - Combining our technologies will enable us to better address the geothermal bottoming cycle market as we together increase the output from existing geothermal power plants while solving many of the issues that geothermal brine brings, concludes Thomas Öström.

EREVITA Team, 7.2.2020 00:29:11

Climeon selected for H&M and WWF Cleantech Programme Climeon has been selected to participate in the H&M and WWF Cleantech Programme for H&M suppliers. The programme aims at stimulating cleantech investments in the best available technologies to reduce emissions and costs in H&M’s supply chain. In 2019 H&M and WWF initiated a Cleantech Programme for the supply chain in cooperation with GloFin Advisory AB. The aim is to develop a cleantech financing programme with profitable solutions to H&M suppliers for implementation of clean technology. Several cleantech vendors have been evaluated within the framework of the programme before being selected as preferred suppliers. - We are thrilled to be presented as one of the preferred cleantech solutions for H&M suppliers, says Thomas Öström, CEO of Climeon. - Climeon’s technology for waste heat recovery can increase energy efficiency and reduce CO2 emissions in H&M’s value chain, continues Thomas Öström. - We believe that Climeon’s high quality products for waste heat recovery will fit well into this Programme and we look forward to them presenting their technology to H&M’s suppliers at our Cleantech Expo in March, says Stefan Jonsson from Glofin, responsible for the programme. Through the H&M and WWF Cleantech Programme suppliers are provided with an energy audit to identify improvement areas, a selection of preferred cleantech vendors as well as financing solutions in order to speed up the implementation of cleantech with H&M Suppliers. As a first step, Climeon will participate in the H&M and WWF Cleantech Expo in New Delhi, in March 2020 and present the company’s solution for waste heat recovery for H&M suppliers as well as visit relevant manufacturing sites.

EREVITA Team, 2.3.2020 09:12:24

Climeon has received an order from Norwegian Havila Voyages to install Heat Power systems on four newly built vessels. The order value amounts to about SEK 15.4 million, and delivery is expected to take place in 2021 and 2022. - We are happy that an established company such as Havila takes the sustainability issue seriously and therefore has decided to recover the waste heat when they build new cruise ships, says Thomas Öström, CEO of Climeon. - We look forward to working with Havila Voyages and to be part of making traveling along the Norwegian coast more sustainable. Climeon’s technology can reduce the ships’ carbon dioxide emissions and we believe that we have an important role to play in the maritime industry’s green transition, continues Thomas Öström. - For us, it is important to protect nature, and in this case the Norwegian coastline where our ships will sail. Climeon’s technology is an important piece of the puzzle as we build the most sustainable cruise ships that will be sailing along the Norwegian coast, says Arild Myrvoll, CEO of Havila Voyages. Havila Voyages AS is a family-owned, Norwegian company which during 2021 will take four new environmentally friendly cruise ships into operation to sail along the Norwegian coast. The ships are part of Havila’s contract with the Norwegian Ministry of Transport for travels between Bergen and Kirkenes. Havila Voyages is owned by the Norwegian business group Havila, which operates in the maritime industry, within transport and tourism. Havila Voyages’ four ships Havila Capella, Havila Castor, Havila Polaris and Havila Pollux are all 122,7 meters long, 22 meters wide and able to carry 640 passengers. The ships will be powered by a hybrid LNG (liquefied natural gas) and battery system. The battery packs will allow the ships to sail without noise and emissions for up to four hours. The combination of LNG, batteries and innovative technologies such as Climeon’s Heat Power system will make the vessels the most environmentally friendly cruise ships in service along the Norwegian coast, according to Havila Voyages. The four ships are currently being built in Tersan in Turkey. Climeon’s Heat Power systems are to be delivered during 2021 and 2022.

Lubomir, 13.6.2021 11:53:48

With share price around 30SEK, it could be stock to buy, especially when reading some current news. https://www.motorship.com/news101/ships-equipment/climeon-waste-heat-recovery-system-receives-dnv-approval

EREVITA Team, 24.4.2020 12:28:10

Climeon's first installation in Japan operational Climeon’s first Heat Power module in a geothermal power plant in Japan has successfully been commissioned and is now producing electricity. In 2018, Climeon won its first order in Japan. Since then, the company has established a subsidiary in the country, begun the installation of two power plants, and now also put the first Heat Power module into operation. - This is an incredibly important milestone for Climeon. Japan is one of the toughest geographical markets to enter. I am incredibly proud that we, together with Baseload Power Japan, managed to get a power plant up and running this fast, compared to how long it typically takes in Japan, says Thomas Öström, CEO of Climeon. - We are now contributing to the energy transition in Japan for real. Every kilowatt hour produced to the grid contributes to transforming the Japanese energy system, says Jack (Masao) Watanabe, President of Climeon Japan K.K. The first installation is located in Kyushu, where Climeon's Heat Power module is connected to an existing power plant and recovers the geothermal waste heat. - The fact that the first power plant now produces electricity is an important key to our continued rollout. Now we have proven to local partners and to our investors that Climeon and Baseload can produce fossil-free electricity in Japan, Masahiro Ito, Representative Director of Baseload Power Japan K.K. Japan is a highly prioritized geographical market for Climeon, due to the country’s favorable conditions for geothermal electricity production. After the accident at the Fukushima nuclear power plant in 2011, Japan's domestic energy production has decreased significantly, which is why the majority of all primary energy is imported and most of it is fossil. There are many hot springs around the country, from which geothermal heat power can be extracted. Today, only just over 2 percent of its known geothermal energy resources are utilized. The price of electricity generated from geothermal heat power in Japan today is just over SEK 3 per kWh, which is about eight times higher than the electricity price in Sweden.

Lubomir, 15.10.2021 21:40:30

Mind the shortsellers sqeeze! We could see a pretty fast and sharp rally. IMHO, shares has disconnected itself far from reality. Now, could be a perfect time to add on long positions!

Lubomir, 18.10.2021 16:20:41

20%+ rally today on very strong trading volume

Lubomir, 2.11.2021 18:14:09

Peter Lindell subscribes 5 million B-shares in Climeon AB through a directed new share issue The Board of Directors of Climeon AB has today, based on the authorization from the Annual General Meeting 2021, decided on a directed new share issue encompassing 5 million B-shares at a subscription price of SEK 7 per share to the company wholly owned by Peter Lindell, Cidro Förvaltning AB. Peter Lindell is among all Chairman of the Board of Rite Ventures AB. The new share issue entails a dilution effect of approximately 8.41%. Through the new share issue, Climeon AB will receive an issue amount of SEK 35 million. - Climeon is an industrial company with a long-term vision to realize the great potential that exists in thermal power. To succeed in this, long-term, experienced and capital-strong owners are needed. Today I am very pleased to announce that Peter Lindell is now taking a large ownership position in the company ", Thomas Öström, Chairman of the Board, Climeon AB. - Climeon's technology, products and business concepthas perfect timing. The need for sustainable energy production and energy savings are areas that both have a future and that will grow for a long time period. I strongly believe in the focus that Climeon's new management and Board managed the company into. I am looking forward to be a long-term owner of Climeon and to actively following the company forward ", Peter Lindell. The new share issue is carried out without preferential rights for the company's shareholders to enable the company to expand its ownership base with an entrepreneurial and highly experienced investor, including in industrial development, while strengthening the company's working capital base in a cost-efficient manner. The subscription price has been determined on the basis of present market conditions following negotiations between the company and the investor and entails a discount of approximately 14% on the volume-weighted paid price of the company's B-share during the last 5 trading days before the share issue.

EREVITA Team, 5.5.2020 09:34:03

Climeon wins first order within geothermal in Taiwan Climeon has won a first order within geothermal heat power in Taiwan, a new geographical market for the company. The order comes from Baseload Power Taiwan and includes Climeon Heat Power systems as well as design and consultancy services for the surrounding power plant. The total order value amounts to about SEK 41 million. Climeon has won a first order within geothermal heat power in Taiwan. The order comes from Baseload Power Taiwan and the target is to deliver the Heat Power modules by the end of the year. Associated design and consultancy services will be delivered as the project progresses. The power plant is expected to be one of the first commercial geothermal heat power plants in the country. We are proud to continue our global expansion through a first order in Taiwan. The geological conditions combined with financial incentives for green electricity production makes Taiwan an interesting market with great potential for Climeon, says Thomas Öström, CEO of Climeon. - Taiwan is a prioritized market for Baseload Capital and we are very happy be able to start executing on a first power plant in the country, says Van Hoang, President of Baseload Power Taiwan. Climeon has together with Baseload Capital worked actively in Taiwan since the beginning of 2019 to establish collaborations with local businesses, landowners and local authorities. In this first project the modular Heat Power plant will be built in eastern Taiwan. Apart from the Climeon Heat Power systems, the order from Baseload Power Taiwan includes control software, design-, consultancy-, and procurement services connected to the building of the power plant. The associated services amount to approximately 40 percent of the total order value. - Our vision is to deliver an increasingly complete power plant solution to our customers, continues Thomas Öström. In addition to our modules, we also offer the surrounding services that are part of a holistic solution. - Through a broader customer offering, including consultancy services, we have negotiated significantly better payment terms. This helps to strengthen our financial position, concludes Thomas Öström. Taiwan is, like Japan and the west coast of the USA, located in the “ring of fire”, an arcuate area along the Pacific Ocean coastal areas, which is known for high seismological activity and thereby also great resources of geothermal energy. Despite this, there are few active commercial geothermal power plants in the country. The greatest potential for extraction of geothermal energy is found along the eastern coast of Taiwan.

Lubomir, 11.12.2021 19:42:40

A listed investment company advised by Victory Hill Capital Advisors LLP has revealed a £78m programme commitment to fund flexible power generation projects in the UK. The projects are located in Nottinghamshire and County Durham. VH Global Sustainable Energy Opportunities' investment will fund the construction of two combined heat and power plants which bring together high-efficiency, gas-fired engines technology with a carbon capture and re-use system to provide a clean, net-zero, dependable electricity service for the UK. The combined capacity will be 45MW, with assets at the ready-to-build stage, with full planning permissions and commercialisation plans in place. The first plant will begin construction in the fourth quarter of 2021 in Nottinghamshire, with a second plant in County Durham expected to be begin construction by the second quarter of 2022. Richard Lum, co-CIO of Victory Hill Capital Advisors LLP, said: "The UK harbours ambitious plans to hit net zero carbon emissions by 2050 and is rightly increasing capacity for renewable power generation. "At the same time, fossil fuel generators continue to leave the system. While admirable, the situation risks creating a perfect storm for system interruptions if supply from weather-dependent renewable sources is unable keep-up with accelerating demand for electricity in the coming decades. "GSEO's aim is to ensure the UK electricity grid can meet growing demand and keep the lights on without resorting to excessive levels of harmful fossil fuels, as it becomes increasingly reliant on renewable power. "These projects will provide a highly efficient, flexible source of power that can be called upon when needed, and at short notice, to plug any shortfall in power generation from wind or solar." Victory Hill will be partnering with Landmark Power Holdings Ltd. a specialised developer and operator of gas-fired power plants. Michael Avison, chief executive of Landmark Power Holdings Ltd, said: "Our organisations share the same perspectives on the UK's power markets. "The Landmark Power team have also benefitted from the support of Swedish company Climeon, to help design and optimize the UK's first decarbonised gas fired power plants that are able to materially support the grid through the provision of both base load power, as well as supplying the balancing and capacity markets.

Lubomir, 15.12.2021 05:46:30

Climeon Heat Power Production Initiated Onboard Maersk Container Vessel Climeon AB announces the successful integration of the commissioned Heat Power System onboard a Maersk container vessel. Maersk will begin evaluating the waste heat recovery technology’s potential for increasing energy efficiency and strengthening their mission to achieve a 60% reduction in CO2 emissions by 2030. The maritime industry share of greenhouse gas (GHG) emissions is approximately 3%. “Business as usual” scenarios expecting to result in growth of GHG emissions by 20% or more by 2050, according to Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping’s recently published Industry Transition Strategy report. As the largest container logistics company globally, Maersk sees it as their obligation to be a driving force in the decarbonization of long-distance shipping and logistics. The company has set ambitious decarbonization targets and has chosen to evaluate Climeon’s Heat Power technology as a part of this strategic initiative. Climeon’s Heat Power System recovers waste heat, in the form of jacket cooling water and surplus steam, from the vessel’s main engine. The recovered heat is utilized to produce electrical power for the vessel’s grid. This carbon-free power source reduces the required electrical output from the vessel generators, which saves fuel and reduces emissions. “After numerous delays due to Covid-19 restrictions, we are thrilled to begin power production and evaluate the potential onboard Maersk container vessels. We are so grateful for the professional support and genuine enthusiasm that the Maersk team have displayed to ensure the success of this collaboration.” - Fredrik Thoren, Head of Maritime, Climeon The technology automatically and continuously ensures that the power output is optimized for maximum conversion efficiency via the Climeon Live control system. The software provides daily system information and reports, facilitating proactive monitoring of the system, ensuring maximum up-time. The current system installed has the capacity to produce 150kW of carbon-free power, which improves the Energy Efficiency Existing Ship Index (EEXI) of the vessel. Climeon offers a modular scalable system that can deliver 150kw to 1MW of clean power output on a single vessel and can reduce annual CO2 emissions by up to 3500 tonnes, equivalent to an annual fuel savings of 1000 tonnes.