Yesterday, February 28, was a good day, our latest patent was made public!
Our own hybrid gasification technology patent was made public yesterday.
The technology has been developed to handle the consequences of high pressure gasification in a fluidized bed. The pressure affects the geometry, gas viscosity and particle behavior and with this technology, we adress these challenges for an optimized gasifier for pressurized conditions. The gasifier will be integrated with a gas turbine for the BTC plant for high efficiency biopower but can also work as a stand-alone unit for production of renwable industrial gases for industries, like green H2, green CH4 and green CO2.
Great job Chunguang Zhou and Michael Bartlett, inventors of the technology!
The publication came almost to the day one year after it was submitted.
Teckningstiden förlängd till 4 november / Subscription period extended to 4 November.
Bolaget för förhandlingar med vissa investerare vilka förväntas avslutas i början av november, vilket gör att Styrelsen 24 oktober beslutade förlänga teckningstiden till 4 november. Tilldelning beräknas beslutas den 8 november.
New project funding granted by Swedish Energy Agency
On Friday 21 October the Company received a decision from the Swedish Energy Agency to grant a new project called "BioPower2023", which we will execute with our research partners at RISE Research Institutes of Sweden KTH Royal Institute of Technology and our Industrial Reference Group, including Drax Group.
We are especially happy to note that a part of the Agency's motivation to grant the project is that
"The BTC concept is judged to have the potential to contribute to the Swedish #energytransition, where electricity production from biomass will play an important role. Furthermore, the Swedish Energy Agency assesses that the chances of implementation are good as the actor constellation consists of relevant actors who actively contribute to the project."
The project shall continue the development of the novel BTC technology with our partners. In particular, we shall validate key capabilities of the combustion and gasification technologies for robust and flexible operations with low quality fuels. Further, two pre-feasibility studies for demonstration plants operating with mixtures of waste wood and forest residues (Sweden) and energy crops (UK) will be done with some of the world's largest #biopower utilities.
Our humble thanks to the Swedish Energy Agency for your continued support of our development towards high efficiency biopower.
Successful integrated operation at our testrig
On Thursday 20 October, the company executed the first successful integrated commissioning test of the integrated Scarlett rig. In this test, solid biomass was gasified, cooled, cleaned and then combusted in a gas turbine combustion chamber, where combustion was achieved using 100 % syngas from gasified biomass.
This test is our first practical test in proving the BTC process of using solid biomass to fuel a gas turbine. In coming tests, the company will add steam and also work with various fules and fuel mixes to identify boundaries and performances of the technology. Hydrogen will also be tested in 2023.
Watch the video below where 100 % syngas is being combusted in ur combustion chamber.
New patent to be granted
The Company has received notice form the Swedish Patent & Registration Office that they intend to grant a patent for our application regarding the novel hybrid gasification technology, HFB. A great milestone for the company’s development and technology platform.
The HFB gasification technology addresses the challenges on pressurized gasification on medium scale, 20-200 MWf, regarding particle behavior and geometry, combining properties from both bubbling fluidized bed gasification and circulating fluidized bed gasification.
Phoenix BioPower offentliggör Informationsmemorandum (Copy)
Phoenix BioPower offentliggör idag informationsmemorandum med anledning av den nyemission bolaget nu genomför.
Fullständig information kring nyemissionen finns att tillgå via bolagets hemsida och sidan för nyemissionen.
Den 1 september 2022 beslutade styrelsen för Phoenix BioPower AB (publ) att öka aktiekapitalet med högst 86 102,30 kronor genom utgivande av högst 1 722 046 aktier av serie B. Nyemissionen sker med företrädesrätt för bolagets aktieägare. Tio (10) befintliga aktier, oavsett aktieslag, berättigar till teckning av en (1) ny aktie av serie B. Aktierna emitteras till en kurs om 10,15 SEK per aktie. Vid fullteckning av emissionen tillförs Bolaget 17 478 766,90 kronor före sedvanliga emissionskostnader. Aktier som inte tecknas med företrädesrätt får tecknas av alla och envar.
Vid stort intresse för nyemissionen avser styrelsen besluta om övertilldelning om upp till maximalt 915 885 aktier, likaledes av serie B och till kurs 10,15 SEK per aktie, genom en separat riktad emission. Det maximala belopp som kan tillföras Bolaget med anledning av Övertilldelningen uppgår till 9 296 232,75 kronor. Befintliga aktieägare som väljer att inte delta i nyemissionen kan som mest bli utspädda med omkring 15,3 procent, beräknat som antal nya aktier efter fullteckning av nyemissionen, inklusive övertilldelningsoptionen, dividerat med totalt antal aktier efter nyemissionerna.
Det totala antalet aktier i övertilldelningserbjudandet fastställs på beslutsdagen då det totala erbjudandet av företrädesemissionen och övertilldelningen inte får överstiga € 2 500 000. Med den volatila växelkurs som svenska kronan i dagsläget uppvisar kan antalet aktier och beloppet komma att justeras, både upp och ned, något.
För mer information, vänligen kontakta: VD Henrik Båge, tel 08-663 58 00. E-post: info@phoenixbiopower.com
Phoenix BioPower receives 750KSEK in funding from the Swedish Energy Agency
Phoenix BioPower has received funding for the project FOUNDATIONS within the Bio+ programme of the Swedish Energy Agency. The project aims to lay the foundations for commercialisation and enable the market-entry of the novel BTC technology
The need for local, plannable, renewable power has risen dramatically. Reliance on fossil fuels threatens energy security, causes climate change and is expensive. Growing amounts of intermittent renewables can be efficiently complemented with the novel Biomass-fired Top Cycle (BTC) technology, which can flexibly and robustly utilise sustainable and locally sourced biomass at electrical efficiencies up to 50%.
The project FOUNDATIONS shall, by laying the foundations for commercialisation, enable the market-entry of the novel BTC technology. In particular, the first standard BTC product shall be defined with associated gas turbine supplier. Further, the business plan and commercial roadmap shall be updated, including a demonstration plant, based on the standard BTC product, findings from other projects as well as market shifts the past 2-3 years. Lastly, the basis for a BTC Pilot Plant and the partnership structure for 2023 application to Demo & Pilot programme will be developed.
Total project budget is 1.3 MSEK with 750KSEK in funding from the Swedish Energy Agency, representing a funding level of 58%. The project will start during the summer of 2022 and last until end of February.
Kommuniké från Årsstämma 1 juni, 2022 i Phoenix BioPower AB (publ)
Onsdagen 1 juni avhölls årsstämma i Phoenix BioPower AB (publ) i bolagets lokaler på Drottning Kristinas väg 18, Stockholm.
Deltagande på plats var 10 personer, representerande 11 aktieägare. Totalt 9 074 500 aktier representerande 85 769 570 röster var närvarande och representerade vid stämman, motsvarande 52,7 % av utestående aktier och 74,1 % av rösterna.
Vid stämman beslutades att fastställa styrelsens förslag till årsredovisning samt disposition av resultatet på – 12 183 831kr att balanseras i ny räkning.
Beslutades om ansvarsfrihet för VD och styrelseledamöterna.
Beslutades om omval av styrelseledamöterna Stefan Jakélius, Michael Bartlett, Catharina Lagerstam, Birgitta Resvik och Ola Johansson för tiden intill slutet av nästa årsstämma. Henrik Båge och Hans-Erik Hanson avböjde omval.
Till bolagets revisor valdes Mazars AB med auktoriserade revisorn Mikael Fredstrand som huvudansvarig revisor för tiden intill nästa årsstämma.
Beslutades om att bemyndiga styrelsen att emittera aktier av serie B, teckningsoptioner och/eller konvertibler motsvarande maximalt 20 % av det vid stämman registrerade aktiekapitalet.
Beslutades om emission av teckningsoptioner och vidareöverlåtelse av teckningsoptioner enligt förslaget i kallelsen avseende personaloptionsprogram. Programmets omfattning är på maximalt 5 %.
Beslutades att lägga till en ny §15 i bolagsordningen till följande lydelse:
§ 15 INSAMLING AV FULLMAKTER OCH POSTRÖSTNING
Styrelsen får samla in fullmakter enligt det förfarande som anges i 7 kap. 4 § andra stycket aktiebolagslagen (2005:551).
Styrelsen får inför en bolagsstämma besluta att aktieägarna skall kunna utöva sin rösträtt per post före bolagsstämman enligt vad som anges i 7 kap. 4 a § aktiebolagslagen (2005:551).
Beslutades att omstämpla 500 000 aktier från röststarka A-aktier till röstsvaga B-aktier. Noteras att Michael Bartlett, som innehavare av aktierna, röstade för förslaget.
Mötet avslutades därefter då inga övriga frågor fanns att avhandla.
Fullständigt mötesprotokoll finns att beställa från bolaget, kontakta i så fall info@phoenixbiopower.com.
First Fire!
On Wednesday 22 June we had a great day and succeeded in achieving first fire in our combustion rig at our facilities in Stockholm.
The combustion rig is part of our integrated gasification and combustion rig for atmospheric integrated tests that we have been building the past year. In this rig, we will be able to test both gasified biomass of different kinds (bio-syngases), but also Hydrogen. For the first fire, we used LPG. The complete rig, which we amicably call Scarlett, will be providing significant operational experiences in integrated operation of gasification, gas clean-up, steam injection and combustion. We will also be measuring contents of the syngases produced and post-combustion emissions.
As we now have succeeded in first fire of the combustion rig, our attention now turns to the gasifier. Looking forward to seeing it operate.
BioFlexGen - Making the Green Deal real!
The renewable energies Project Bio-FlexGen has kicked off!
Bio-FlexGen is an EU-funded Research and Innovation Action (RIA) project. 14 partners from five countries (Sweden, Finland, Hungary, Spain and Germany) will collaboratively work for a decarbonised future. Susanne Paulrud from the Swedish research organization RISE coordinates the 36 months project.
Decarbonising the energy system
The global demand for energy is constantly increasing. That´s why renewable sources are crucial for a decarbonised future. Bio-FlexGen will develop an optimised combination of bioenergy with green hydrogen providing secure and plannable sources for power and heat. This will complement intermittent renewable sources such as wind and sun. Bio-FlexGen will also increase the efficiency and flexibility of renewable combined heat and power (CHP), playing a key role in the energy system integration. Moreover, Bio-FlexGen will combine gasification and gas turbine technology.
Meeting the demands
Due to the high efficiency, three times more power can be generated from biomass for the same heat load. Starting and operating on 100% green hydrogen, the CHP-plant can quickly achieve full load. To meet fluctuations in seasonal energy demands and prices, there will be a variant of the plant. It adapts to long periods of low electricity prices or heat demand by producing climate-positive green hydrogen.
Cost-efficient and robust
The Bio-FlexGen approach is highly efficient – both energetically and economically. Engineers will develop a power plant with a unique combination of gasification and gas turbine technology that allows the plant to utilise hydrogen for fast dispatch and biomass for low operating costs over time. Green hydrogen is an energy carrier to stabilise electrical grids. It is generated through solar or wind energy.
Innovation: flexible combined heat and power
Compared with thermal power stations, the Bio-FlexGen power plant will generate electricity and heat from biomass, with a much higher electricity efficiency. The Bio-FlexGen power plant will operate with up to 100% green hydrogen – thus enabling higher flexibility of renewable energy sources. Bio-FlexGen researchers will, among others, develop a novel combustion chamber. This enables the gas turbine combustion system to adjust to changing compositions of bio-syngas and the hydrogen.
That´s a real big (green) deal!
For more information, please contact:
Michael Bartlett, CTO
michael.bartlett@phoenixbiopower.com
Henrik Båge, CEO
henrik.bage@phoenixbiopower.com
PHOENIX BIOPOWER EXPLORES NEXT GENERATION BECCS TECHNOLOGY FOR DRAX GROUP
Phoenix BioPower’s study will investigate how the latest energy efficient turbine technology could reduce the costs of new build bioenergy with carbon capture and storage (BECCS) plants.
Phoenix BioPower and renewable energy company Drax Group, a global leader in sustainable biomass power generation, are exploring ways to drive down the costs of second-generation bioenergy with carbon capture and storage (BECCS) technology.
The feasibility study by Phoenix BioPower will look at how energy-efficient gas turbines could make new-build BECCS projects more cost effective by generating 50% more power with the same amount of fuel, when powering a 300MWe biomass plant with integrated carbon capture and storage.
The innovative top cycle turbines are up to 15 percentage points more efficient with BECCS than existing technologies used in power stations and could also be used with other renewable technologies, to support decarbonising energy systems globally.
Henrik Båge, CEO of Phoenix Biopower said: “Working alongside Drax, a global leader in sustainable biomass power generation and BECCS, gives us an exciting opportunity to explore the next generation of negative emissions technologies together with our high-efficiency biopower technology. We look forward to working with the world-class engineers at Drax on this study to further develop these essential technologies.”
By integrating pressurized biomass gas into the turbine, instead of high-pressure steam, Biomass-fired Top Cycle turbines can almost double of the electrical efficiency from biomass compared to the traditional steam cycle.
The study will also investigate how the biomass-fired top cycle gas turbines can be utilised for other renewable technologies such as hydrogen combustion and production. The study will be based on results from Phoenix’s test facilities in Sweden and Germany.
Drax is already the largest decarbonisation project in Europe having converted its power station near Selby in North Yorkshire to use sustainable biomass instead of coal. By using the vital negative emissions technology BECCS at the site, Drax aims to go further, by becoming a carbon negative company by 2030.
Jason Shipstone, Drax Group Chief Innovation Officer, said: “Negative emissions technologies such as BECCS will play a crucial role in the global fight against climate change and at Drax we’re planning to install this technology at our existing power station in the UK.
“This partnership with Phoenix BioPower is one of a number of options we’re investigating as part of our long-term innovation programme, which will enable Drax to understand the potential of future technological advances, so we can continue to innovate, develop and grow as a business.”
Media contacts:
Phoenix BioPower
Henrik Båge, CEO
+46 (0)734 23 22 55
henrik.bage@phoenixbiopower.com
Drax
Ben Wicks (Media Manager)
07761 525 662
Ben.Wicks@Drax.com
Editor’s Notes
The work by Phoenix BioPower with Drax will:
Develop a feasibility study to identify how biomass-fired top cycle turbines can be integrated into new build BECCS power stations.
The study will be based on results from two of Phoenix Biopower’s test sites in Sweden (biomass gasification) and Germany (ultra-wet gas turbine combustion) and will create a model based on data provided by both companies.
The study will also investigate how gas turbines can also be utilised for other renewable technologies such as hydrogen combustion and production.
About BECCS at Drax:
Drax aims to deploy BECCS on two of its biomass generating units by 2030 capturing and permanently storing up to eight million tonnes of CO2 a year – a significant proportion of the negative emissions the Climate Change Committee says are needed in order for the UK to reach its climate targets.
The IPCC, UK Climate Change Committee and National Grid’s Future Energy Scenarios report all recognise the vital role biomass and BECCS will play in the UK meeting its legally binding net zero by 2050 target.
The government’s legally binding commitment to cut emissions by 78% by 2035, in line with the Climate Change Committee’s 6th carbon budget advice, also reinforces the vital role of BECCS to delivery net zero in the UK.
BECCS is the only negative emissions technology that generates power whilst also permanently removing carbon dioxide from the atmosphere.
About Phoenix BioPower
Phoenix BioPower, founded in 2016, develops a new technology for high efficiency biopower and a novel gas turbine cycle for ultra-wet combustion enabling the energy transition to plannable renewables and utility scale negative emissions.
The BTC technology
The biopower technology, BTC – Biomass-fired Top Cycle, is based on the integration of pressurized biomass gasification and gas turbine combustion, enabling a near doubling of the electrical efficiency from biomass compared to the traditional steam cycle. The company targets to commission a first full-scale plant by end of 2028.
The Top Cycle gas turbine
The novel gas turbine technology Top Cycle is based on the principle of replacing excess air with steam, enabling higher power generation capabilities at lower CAPEX and high value waste heat to be used for other purposes, like CCS or District Heating, without affecting the power cycle.
The ultra-wet conditions in combustion enable very low NOx emissions, especially with Hydrogen combustion, and very stable flame conditions.
For more information, visit www.phoenixbiopower.com
Customers
Phoenix BioPower is in a pre-commercial phase and will offer turn-key solutions on commercial terms to end users and plant operators with partners to assure delivery, warranties and stable operation.
About Drax
Drax Group’s purpose is to enable a zero carbon, lower cost energy future and in 2019 announced a world-leading ambition to be carbon negative by 2030, using Bioenergy with Carbon Capture and Storage (BECCS) technology.
Its 3,400 employees operate across three principal areas of activity – electricity generation, electricity sales to business customers and compressed wood pellet production and supply to third parties.
Power generation:
Drax owns and operates a portfolio of renewable electricity generation assets in England and Scotland. The assets include the UK’s largest power station, based at Selby, North Yorkshire, which supplies five percent of the country’s electricity needs.
Having converted Drax Power Station to use sustainable biomass instead of coal it has become the UK’s biggest renewable power generator and the largest decarbonisation project in Europe. It is also where Drax is piloting the groundbreaking negative emissions technology BECCS within its CCUS (Carbon Capture Utilisation and Storage) Incubation Area.
Its pumped storage, hydro and energy from waste assets in Scotland include Cruachan Power Station – a flexible pumped storage facility within the hollowed-out mountain Ben Cruachan.
Pellet production and supply:
Drax owns and has interests in 17 pellet mills in the US South and Western Canada which have the capacity to manufacture 4.9 million tonnes of compressed wood pellets (biomass) a year. The pellets are produced using materials sourced from sustainably managed working forests and are supplied to third party customers in Europe and Asia for the generation of renewable power.
Drax’s pellet mills supply around 20% of the biomass used at its own power station in North Yorkshire, England to generate flexible, renewable power for the UK’s homes and businesses.
Customers:
Through its two B2B energy supply brands, Haven Power and Opus Energy, Drax supplies energy to 250,000 businesses across Britain.
For more information visit www.drax.com
25,5 MSEK tecknat i nyemissionen med en teckningsgrad på 172%!
Den nyligen genomförda nyemissionen under perioden 8 - 22 mars, 2021 resulterade i ett mycket stort intresse för erbjudandet och bolaget. Efter att emissionen stängt och alla teckningar sammanställts summerade intresset till 2 515 607 aktier, motsvarande 25 533 411,05 kr, vilket ger en teckningsgrad om 172%.
Den 22 december fattade bolagsstämman beslut om nyemission av 14 836 011,40 kr med en överteckningsoption på 8 509 760 kr. Med anledning av det stora intresset beslutade Bolagets styrelse att utnyttja hela överteckningsoptionen. Bolaget kommer därför att emittera 2 300 076 aktier och bolaget tillföras 23 345 771,40 kr före sedvanliga emissionskostnader.
Bolagets styrelse fattade tisdagen 30 mars tilldelningsbeslut och avräkningsnotor kommer skickas ut inom kort av Aktieinvest FK.
25.5 MSEK subscribed for in our latest funding!
In March 2021 the company executed a pre-IPO funding directed to the general public. The subscription period was 8 - 22 March. Interest for participation greatly exceeded our expectations.
A total of 2 515 604 shares, representing 25 533 411.05 SEK was subscribed for, representing a subscription ratio of 172 % of the share issue. An additional 8 509 760 SEK was mandated in an oversubscription option. The Board decided to execute the oversubscription option following the great interest in the offering.
Following the decision at the extraordinary meeting of shareholders on 22 December, including the full oversubscription option, a total of 2 300 076 shares will be issued and the company will raise 23 345 771.40 SEK, before funding related costs. This means that the maximum amount of shares will be issued under mandate from the shareholders.
On 30 March, the company’s Board of Directors decided on allotment, and contract notes will be sent out shortly.
Kommuniké från extra bolagsstämma den 22 december 2020
Bakgrund
I syfte att möta bolagets planerade utvecklingsplan och finansieringsbehov har bolaget behov av ytterligare finansiering för att nå satta mål. Bolaget kommer därför att genomföra en nyemission 8 – 22 mars 2021. Emissionen är en företrädesemission av 1 461 676 aktier till en kurs om 10,15 kr/aktie och en utökning av aktiekapitalet med 73 083,80 kr till totalt 803 922 kr. Vid full teckning inbringar emissionen 14,6 MSEK före sedvanliga emissionskostnader.
Vid stort intresse kan styrelsen besluta om övertilldelning genom en separat riktad emission om som mest 8,5 MSEK motsvarande 838 400 aktier, motsvarande en ytterligare ökning av aktiekapitalet till som mest med 41 917,40 kr till totalt 845 839,40 kr.
Efter fulltecknad, genomförd, emission uppgår det totala antalet aktier till 16 078 440 aktier och vid fullt utnyttjande av överteckningsemissionen 16 916 840 aktier.
Emissionskostnaderna uppskattas till ca 15 % av emissionsvolymen.
Informationsmemorandum och fullständig information om emissionen kommer publiceras senast 8 mars 2021.
Beslut
Vid extrastämman 22 december 2020 i Phoenix BioPower AB (publ) fattades följande beslut:
1. Genomförande av nyemission av aktier av serie B med företrädesrätt för befintliga aktieägare
Beslutades om att öka Bolagets aktiekapital med högst 73 083,80 kronor genom nyemission av högst 1 461 676 aktier av serie B med företrädesrätt för befintliga aktieägare att teckna aktier av serie B i förhållande till det antal aktier innehavaren förut äger, oavsett aktieslag, enligt förslaget i kallelsen.
Teckningskursen per aktie är 10 kronor 15 öre.
2. Bemyndigande för styrelsen att emittera aktier av serie B (överteckningsoption)
Beslutades att bemyndiga styrelsen att, under förutsättning att företrädesemissionen som föreslås under punkten 8 fulltecknas, fram till nästa årsstämma, med avvikelse från aktieägarnas företrädesrätt, vid ett eller flera tillfällen, besluta om emission av sammanlagt högst 838 400 aktier av serie B, vilket vid fullteckning av företrädesemissionen motsvarar cirka 5,74 procent av aktiekapitalet i Bolaget.
Teckningskursen ska vara 10 kronor och 15 öre per aktie, vilket motsvarar teckningskursen i företrädesemissionen.
Stämman genomfördes som en hybridstämma där anmälda aktieägare hade möjlighet att följa stämman via videolänk.
För ytterligare information, kontakta:
Henrik Båge, VD
Phoenix BioPower AB (publ)
+46 (0)8 663 58 00
Phoenix BioPower i korthet
Phoenix BioPower arbetar för att möta framtidens utmaningar i energiomställningen genom att utveckla teknik för planerbar och förnybar kraftproduktion. För att uppnå detta utvecklar Phoenix BioPower ny teknik inom högeffektiv biokraft, BTC, samt en ny gasturbinteknik för hög effektivitet och bränsleflexibilitet, Top Cycle. BTC tekniken, Biomass-fired Top Cycle är en teknik för förgasning av biomassa integrerad med gasturbinförbränning. Tekniken kan fördubbla det elektriska utbytet från bränslet jämfört med traditionella tekniker. Gasturbintekniken Top Cycle bygger på att ersätta överskottsluft med ånga tillsammans med högt förbränningstryck. Detta ger en gasturbin som är bränsleflexibel, idealisk för vätgas samt effektiv. Både BTC och Top Cycle fungerar för kraftvärme och har överlägsna prestanda vid koldioxidinfångning, CCS.
Successful pure hydrogen combustion tests!
In June, Phoenix BioPower conducted a series of combustion tests at the TU Berlin test rig for different fuels and fuel blends led by Felix Güthe of Phoenix BioPower and Simeon Dybe of TUB.
Pure hydrogen flame with ~50% steam.
One key outcome was to verify that pure hydrogen can be used in our combustion system with near-zero NOx emissions (<1ppm), no CO emissions, and therefore, with just steam as the combustion product. That is about as clean as combustion can be!
In addition, we also verified successful shifts between different fuels while in operation; i.e. the combustion system can switch from natural gas to syngas to hydrogen without blow-out or emissions related issues and with a stable flame throughout transition. The tests were conducted at atmospheric conditions with full-scale burner and across a wide operating envelope to capture true engine performance.
With this effort, we have now shown three key advantages of our Phoenix Advanced Combustion System (PACS): safe operation with hydrogen over a wide range of operating points, much lower NOx emissions than conventional systems, and extreme fuel flexibility. We are therefore confident that our technology will be ideal for utilizing renewable fuels, such as gasified biomass residues and pure hydrogen, in the future energy system.
In the coming project “PACS 2020”, which will run from 2020-2023 and is co-funded by Eurostars, the burner and system will be further developed towards a commercial product, with medium-pressure testing and detailed optimization in focus.
Exciting times ahead!
First EU funded project approved!
In June 2020, the company received approval for an application to the Eurostars program for a new project called PACS, Phoenix Advanced Combustion System.
The objective for the project is to develop and validate the world’s first prototype of the Phoenix Advanced Combustion System (PACS) with ultra-low emissions and ultra-high fuel flexibility. The PACS shall be validated first at atmospheric pressures, and then at pressure, for use with climate-neutral fuels like gasified biomass or natural gas and hydrogen mixtures. Further the project will prepare for market entry and integration in the full-scale Top Cycle gas turbine.
PACS is at the heart of a new platform for decarbonized electricity and heat production called the Top Cycle gas turbine. This platform provides local, plannable and low-emissions energy at levelized cost of electricity up to 40% lower than conventional fossil-based plants. For operators, a significantly more profitable asset is achieved, and for society, a more cost-effective path to climate-neutrality is possible.
The project will be executed in partnership with TU Berlin, KTH and BIT, a German technology development SME working closely with TU Berlin. The total project budget is 1.7 M€ and total grants from Eurostars is 1M€. Phoenix’ part has a budget of ~730 K€ with 50 % funding from the program.
This is the first EU backed project that the company has received approval for and marks a milestone in our development road as we now have dedicated resources for combustion development during 2020-2022.
Learn more about Eurostars on https://www.eurostars-eureka.eu/
New project funding approved by the Swedish Energy Agency
On March 3 the Swedish Energy Agency approved the application for a 2.6 MSEK project for a pre-study for a 1/10 scale pilot plant for the BTC technology. The decision includes 1,8 MSEK in grant funding for the Company
The project will be conducted together with Tekniska Verken i Linköping as the primary candidate site is Gärstadverket.
For more information, contact the company.
Emissionen övertecknad och avslutad!
Vi kan glädjande meddela att bolaget nu har stängt nyemissionen och den övertecknades med ca 3,4 MSEK.
Erbjudandet om att teckna aktier i bolaget uppgick till 1 581 250 aktier av serie B till 7,70 kr/aktie. Det motsvarar 12 175 625 kr. Totalt tecknades 1 981 364 aktier till ett värde om 15 253 502,80 kr. Det innebär en överteckning på 25,3 %.
Det är med stolthet och en stor portion ödmjukhet som bolaget nu tar nästa steg i utvecklingen.
Aktieinvest har sedan förra veckan skickat ut avräkningsnotor till de som tecknat och de som tecknat med teckningsrätter bör ha fått BTA införda på sina respektive depåer/VP konton redan nu. De som inte tecknat med hjälp av teckningsrätter kommer få aktier levererade så snart alla har betalat in teckningslikviden och emissionen har registrerats hos Bolagsverket. Det bör vara klart till mitten av december.
För frågor om emissionen eller om bolaget i allmänhet, kontakta VD Henrik Båge på 0734-232255 eller henrik.bage@phoenixbiopower.com
Phoenix BioPower genomför nyemission!
Phoenix BioPower genomför under 14 - 28 oktober nyemission för att finansiera den fortsatta teknikutvecklingen för att kommersialisera BTC tekniken. Läs mer om nyemissionen här.
Phoenix BioPower selected as global top-100 solution company!
Phoenix BioPower has been selected, as a 100 global solution at the 4th Mission Innovation Ministerial meeting in Vancouver, Canada. Phoenix BioPower was nominated by the Swedish Government. Each of the 100 solutions was selected for having a climate mitigation potential of more than 10 megatonnes CO2e or having strategic importance for 1.5 °C compatible strategies.
-We are naturally thrilled and very proud of the recognition from Mission Innovation and thankful for the nomination by the Swedish Government to the list of top 100 solutions. This is another testament to that we are on the right track in providing plannable renewable power for a global market that can make a significant difference for the climate, comments Henrik Båge, CEO.
The list of 100 solutions for the 4th Mission innovation can be found here: Mission Innovation
Mission Innovation (MI) was created by leading governments and launched in conjunction with Breakthrough Energy where many of the world’s most prominent billionaires join together. A new solution framework is now gathering the best of the best solutions for mitigating climate change, using accelerator nominations and winners in earlier competitions and initiatives. The aim is to bring investors and key users of innovative solutions (such as cities and large companies) together with policy makers to see how such solutions can not only grow, but grow exponentially.
