SaltX’s conditional loan of approximately SEK 24 million from the Swedish Energy Agency is converted to a grant

In 2012, SaltX Technology was granted support in the form of an advance with a repayment obligation (“conditional loan”) from the current Swedish Energy Agency to finance development within three applications for better energy utilization. Since the development project did not result in any commercial product or service, SaltX has, on several occasions, applied for remission of the loan. The Swedish Energy Agency notified the company today of its decision to convert the conditional loan into a non-repayable grant. This means that an amount of SEK 24,385,000 in long-term liabilities and an annual interest cost of approximately SEK 2.5 million per year ceases.

The conditional loan was granted in 2012 for part-financing of a project regarding the construction of an OEM platform for commercialization and global growth within three different applications for better energy utilization. The financing was utilized, and the project was reported to the authority.

Repayment of the loan should take place with a share of the revenue from the developed products. However, the development was not successful and never resulted in any technically and commercially functioning products. The operations within these three applications were later shut down. Only a very limited revenue has been reported in previous years, which also resulted in that the loan became interest-bearing.

Due to the lack of commercialization of the project results, SaltX has on several occasions requested remission of the loan, which is possible according to the terms, and has now resulted in a positive decision by the Swedish Energy Agency. The Swedish Energy Agency has today notified the company that the conditional loan, with immediate effect, is being converted from a repayable loan to a non-repayable grant.

For more information:
Carl-Johan Linér, CEO, +46 70 532 08 08
Harald Bauer, CFO, +46 70 810 80 34

This information is information that SaltX Technology Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 30 May, at 15:30 CEST.

About SaltX Technology
SaltX is a Swedish Greentech company that develops and markets sustainable technology that will benefit customers, the climate, and society. The company operates within the electrification of emission-intensive industries such as the lime and cement industries. SaltX Technology's share is listed on the Nasdaq First North Premier Growth Market. For more information, visit: www.saltxtechnology.com.

FNCA Sweden AB is SaltX Technology's Certified Adviser.