Nilar International AB’s application for bankrupcy granted

Nilar International AB (publ) (the "Company") communicated yesterday that the Company's Board of Directors decided to submit an application to the Attunda District Court to declare the company bankrupt. The bankruptcy application has now been granted. Lawyer Lars Nylund at Advokatfirman Fylgia KB has been appointed as bankruptcy trustee.

For more information, contact:
Gunnar Wieslander, Chairman of the Board Nilar International AB (publ)
[email protected]
+4670-755 15 70

About Nilar:
Swedish-based Nilar International AB develops and manufactures batteries that are part of stationary energy storage systems. With better energy storage, society can support the increasingly stressed electricity grid by bridging imbalances between energy production and demand, especially important as the share of renewable energy sources increases. Nilar's battery technology is based on nickel metal hydride (NiMH) electrochemistry with a water-based electrolyte, which provides higher safety while allowing the components to be recycled and reused. Nilar has its headquarters in Gävle and since 2012 all batteries have been developed and produced in the production facility in Gävle, which is powered by 100% renewable energy.

The Nilar share is listed on the Nasdaq First North Premier Growth Market under the ticker NILAR. FNCA Sweden is Certified Adviser. For more information see www.nilar.com.