Hybricon AB invests in smart energy storage from Northvolt.
Hybricon AB are pioneers in electrification. Already in 2016, Hybricon AB installed proprietary products for peak load balancing and grid balancing in UmeĂ„ as the network capacity was not enough for the customer’s needs.
Over the past two years, Hybricon has transformed the company from developing its own products to becoming a knowledge company that collaborates with larger producing companies. It is thus a completely natural development that is now taking place when Hybricon decides to invest in smart energy storage equipment from Northvolt.
In a first step, Hybricon has chosen to invest in a Voltpack Mobile System from Northvolt. It is a battery storage facility that is transportable and scalable, developed and produced by Northvolt’s battery systems department, Northvolt Systems. There are also ongoing discussions between Northvolt and Hybricon regarding further collaboration opportunities.
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- We look forward to breaking new ground together with Hybricon, says Emad Zand, President of Northvolt Systems. With Voltpack Mobile System, they will be able to help the market break free from the need for diesel generators, also integrate their already solid experience in charging infrastructure and the electrification of the heavy vehicle industry.
Hybricon now sees great opportunities in the area of smart energy storage and has a number of ongoing discussions with customers in both infrastructure and events & festival events.
- In a short time, we have gained a very good impression of both the products and the team working at Northvolt. We look forward to developing the business and a further collaboration with both customers and Northvolt, says MĂ„rten Fuchs, CEO of Hybricon. Customers are now beginning to seriously appreciate our ability to apply specific solutions in electrification and we have experienced a great deal of interest when discussing the possibilities in smart energy storage. There is simply a great desire to move on from fossil fuels, he concludes.
To finance this investment, the Board of Directors of Hybricon AB, excluding Martin Rogersson, has decided to raise a bridge loan totalling SEK 2.0 million where SEK 1.0 million is lent by Chairman of the Board Martin Rogersson and SEK 1.0 million from Lakota Management AB, which is owned by Hybricon AB’s CEO, MĂ„rten Fuchs.
The terms of the bridge loan are as follows:
- The monthly interest rate is 1.2% corresponding to an annual interest rate of 14.4% (set-up fee 3%)
- No amortization should be made during the loan period
- The loan matures 2023-05-31 with the possibility, at the borrower’s request, to extend another six months
About Hybricon
Our business concept is to develop, sell and deliver public transport systems with Ultrafast charging and depot-charged electric buses, as well as related service and aftermarket services. The company’s customers consist primarily of municipalities and public transport operators.
The ambition of the brand is to signal sustainability and care for the environment, combined with technical know-how. Hybricon’s share is listed on Spotlight Stock Market with the ticker HYCO. Please see also www.hybricon.se.Âź
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Hybricon AB invests in smart energy storage from Northvolt, November 21, 2022
