Sustainable Energy Solutions Sweden Holding AB (publ) announced that the Company has secured a new battery storage project through the acquisition of 40% of the shares in the relevant project company from the landowner Christineholm Forvaltnings AB ("CFA"), with the objective of establishing a battery plant with a planned capacity of 40 MW outside Nykoping. SENS has further strengthened its position in the battery storage sector by securing a land lease for another large-scale battery park. This is by entering into a shareholder agreement with CFA, which owns 100% of the project company Spanga Volt AB.

Through the share purchase agreement, SENS acquires 40% of the shares in Spanga Volt and will lead the development of the necessary components to establish a battery facility. The ownership of Spanga Volt will be CFA 60%, and SENS 40%, after the share acquisition. With this new agreement, SENS has expanded its project portfolio.

Together with previously communicated battery projects, SENS now has the potential to commission up to 130 MW of battery storage. Based on previous transactions in the market of battery storage, the market value for project rights at Ready-to-build status varies between SEK 250-500 thousand/MW. Assuming that this project is within that price range, given the specific conditions of the project, the estimated value ranges between SEK 10 - 20 million, provided that all project rights are secured.

It should be noted that the share purchase agreement or the lease agreement does not generate any immediate income for SENS, but only occurs when SENS has entered into a sales agreement and/or development agreement for the project with a long-term owner/investor.