SENS enters into a land lease agreement for a new battery storage facility of 40 MW in Flen, Södermanland, Sweden

Sustainable Energy Solutions Sweden Holding AB ("SENS" or the "Company") announces today that the Company has signed a new land lease agreement for a battery storage facility in Flen, Södermanland, Sweden. The agreement extends up to and including 1 May 2053 and the expected capacity of the battery plant is 40 MW.

As part of SENS' commitment to offering attractive and climate-smart energy solutions, the establishment of battery storage has become an essential component of the company's business. Last spring, SENS communicated about the sale of one of Sweden's largest battery parks, which was sold to Axpo, Switzerland's largest energy company.

As a first step in the development of battery parks, SENS focuses on identifying attractive project areas with close proximity to available grid, in order to then secure lease agreements that enable the Company to establish battery parks.

Today, SENS is pleased to announce that a lease agreement has been signed with a landowner outside Bettna in Flen municipality, Södermanland county. The grid owner is Vattenfall. The goal is to construct a battery storage facility that is estimated to have a capacity of 40 MW. With this agreement in place, SENS is now entering a new phase, where the Company will intensify resources to continue the development of the battery park. The goal is to achieve Ready-To-Build status and bring in a financial partner similar to the previous successful concept with Axpo.

Henrik Boman, CEO of SENS, comments:

"It is with pleasure that we have now signed another land lease agreement, which represents a crucial first step as we now aim to establish a new battery storage facility. Interest in battery storage has been impressive, both as an integral part of renewable energy production and as a resource for frequency regulation. Many stakeholders have expressed interest in the unique competence that SENS possesses in the field. Our work in planning and building battery and solar parks complements our main focus in long-term energy storage in mines in a valuable way, and we feel well equipped to meet the increased demand. Now we look forward to completing the project development and at the same time initiate dialogues with investors to together realise the plan to establish this large-scale battery park in Flen, Södermanland.”