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

info@phoenixbiopower.com

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.

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/

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 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.

Phoenix BioPower receives more support form The Swedish Energy Agency

In Feruary 2019, Phoenix BioPower was granted 2.95 MSEK in support from The Swedish Energy Agency. The grant is related to a project for business development, parnter recruitment and funding strategy.

The project will run 2018 through 2020 with the purpose of facilitating and accelerating the companys business development activities in parallel with its technology development.

The BTC technology under development at Phoenix BioPower is both capital and competence intense and for that reason partners for the technology development and industrialization is necessary. This project aims to adress this need in order fo facilitate the succesful developement and commercialization of the BTC technology globally. Total budget for the project is SEK 6.5 MSEK.

Milestone week!

This week we signed the lease for the power plant at KTH Campus on Tuesday and on Thursday we started moving in and begun setting up our test rig!

We now have access to approx 280 m2 of floor area over 3 floors. A maximum ceiling height of 14 m and all the power and heat we can imagine! It also has a very tall chimney, more than 40m high!

Prof Oliver Paschereit Joins as Co-Founder

We are happy to announce that Prof Oliver Paschereit at TU Belin has joined the company as co-founder. Oliver has been involved in the development of the BTC and TopCycle technologies for many years and we are thrilled that he has chosen to join in on this venture.

Oliver brings decades of gas turbine development experience and will be responsible for the combustion development for the process, working in close cooperation with TU Berlin and the Institute for Fluid Dynamics and Technical Acoustics. Oliver will share his time between Phoenix and TU Berlin as of September 2018.

Phoenix BioPower receives 9.6 MSEK in support from Swedish Energy Agency

We are happy to announce that Phoenix BioPower has received 9.6 MSEK in support from the Swedish Energy Agency for Phase 1 in the BTC development program.

This is a key milestone in our journey to high efficiency biopower, giving us a stable platform to develop the core technologies from over the next year. We will have the privilege to execute this work together with KTH, Swerea, TU Berlin and Akademiska Hus, combining their expertise with critical input from our Reference Group of Stockholms Exergi, Svenska Kraftnät, Tekniska Verken och Sveaskog.

Curious? Get in touch!

The Phoenix BioPower team

 

Phoenix BioPower receives funding from Energimyndigheten

Phoenix BioPower has received 1.9 MSEK in funding from the Swedish Energy Agency, Energimyndigheten, for maintaining and developing the patent portfolio. Phoenix BioPower will also draft a comprehensive patent strategy together with its patent advisors at Prospero.

Phoenix BioPowers patent portfolio consists of 6 patent families, with 15 global applications, 9 approvals and 6 pending.

"We appreciate the strong support for the BTC technology shown by the Swedish Energy Agency" comments CTO Michael Bartlett.

For more information, contact the company.

Phoenix second runner up in Power Circle Innovation Race

At the Power Circle Summit 2017 in Gothenburg, Phoenix BioPower came in at an honorable third place in the annual Innovation Race.

10 companies competed in the race, with innovative companies like Againity, Swedish Algae Factory and Insplorion. We are proud to be one of the winners in such an esteemed collection of companies.

Follow our LinkedIn page for more instant news:

https://www.linkedin.com/company-beta/16229475/

Euroturbine receives funding from Energimyndigheten

On Dec. 5, Energimyndigheten decided to fund a Feeder PoC project. The project budget is 2.25 MSEK and the funding from Energimyndigheten covers 70% of the budget.

The PoC (Proof of Concept) project will investigate the fuel feeding process, fuel behavior, time parameters, torrefaction, carbonization and gasification during pressurization with steam. The tests will be conducted at around 1/3-1/4 of industrial pressure.

The project has already been initiated at our facilities in Finspång with Hans-Erik Hansson as project leader. We expect initial results by end of Fabruary. The project duration is until September 2017.

Following the recent formation of Phoenix BioPower, the project will be carried out by the company Euroturbine. All results and IP rights will be transferred to Phoenix BioPower AB once completed. Euroturbine is a fully owned company by Mr Hans-Erik Hansson, one of the founders of Phoenix BioPower.

Pleas contact the company for more information.

Phoenix BioPower is now a KIC Innoenergy company

The founders of Phoenix BioPower has chosen to join the KIC-InnoEnergy incubator and business accelerator program.

"We are very glad that KIC InnoEnergy has chosen to adopt Phoenix BioPower and the BTC technology into their business accelerator program. KIC will be a vital partner to Phoenix BioPower in the development of our BTC technology." says Henrik Båge, Founder and Business Developer at Phoenix BioPower.

For more information, contact:

Henrik Båge, +46 (0)734-23 22 55
henrik.bage (a) phoenixbiopower.com

 

Phoenix BioPower is here

In November of 2016 Phoenix BioPower was formed. It sets the starting point for the new development and commercialization of the BTC technology.

Phoenix BioPower will develop the BTC technology first invented by Mr Hans-Erik Hansson. The technology promises high efficiency power generation brom biomass using a high pressure process and  massive steam injection.

 
logo_globala_malen_horizontell-1.png
 

Phoenix BioPower’s technology addresses directly 7 and indirectly 6 of the UN Global Goals for sustainable development.