SENS starts development of a new mine project for underground energy storage

Sustainable Energy Solutions Sweden Holding AB ("SENS" or the "Company") announces today that the Company has entered into a new land lease agreement for the Kantorps mine located in Katrineholm, Södermanland County in Sweden. The lease agreement aims to investigate the possibilities for commissioning a pumped hydro storage plant in Kantorp's mine with potential for long-term energy storage estimated to approx. 30 MW.

SENS announces today that a land lease agreement for the Kantorp mine with the aim of investigating and developing an underground pumped hydro storage plant with an estimated capacity of approx. 30 MW. The agreement is signed with the landowner in Katrineholm municipality. The lease agreement is part of the various initiatives recently announced by SENS where the Company is actively moving forward in all business areas with the aim of becoming the leading player in energy storage solutions.

The next step for SENS is now to continue the technical investigations that have begun and continue to investigate the conditions for commissioning a pumped power plant with a capacity of about 30 MW. If the conditions are deemed feasible, the Company will proceed with detailed planning based on the commercial and environmental conditions. The mine together with potential battery and solar park facilities provides a considerable opportunity to be a very important part of the green transition both at national and regional level.

Henrik Boman, CEO for SENS, comments:
"SENS is moving forward at a rapid pace in all business areas. We view the lease agreement for the mine very positively and have noted that more and more major domestic as well as international players are paying attention to SENS and showing a clear interest in our important storage business. Our storage operations in mines have an incredible potential to enable a fossil-free generation. The new lease agreement further strengthens us on our journey forward"