Polarium raises SEK 178 million – welcomes three new investors

To pursue its rapid expansion, Polarium has amassed an additional SEK of 178 million. The investment was made by three Swedish investors at an estimated value of over $ 1 billion.

Since its inception in 2015, Polarium has been on a journey to run a more sustainable world, with smart and modular energy saving solutions based on lithium-ion technology. In May, Polarium became Sweden’s latest unicorn, with investment firm AMF investing $ 1 billion in the company. Today, Polarium welcomes three new investors to the same valuation of a stock as AMF.

“I am delighted to welcome our new investors in Polarium. As the group has more investors, we are well positioned to meet this and continue our rapid expansion “, Says Stephen Johnson, CEO and founder of Polarium.

As the share of renewable energy in energy systems increases, energy storage plays an increasingly important role in balancing supply and demand. By incorporating energy-enhancing technology into its energy storage, Polarium helps reduce the energy costs of the end user and helps balance electricity phases. With smart energy storage and energy optimization, electricity can be saved when prices are low and can be used when prices are high. In addition, Polarium customers can sell excess electricity back to the power grid, increasing the use of renewable energy.

This capital accumulation is the latest in many important milestones of Polarium. Except the company became the latest in Sweden earlier this year Unicorn, With an investment of $ 1 billion in AMF’s SEK 955 million, it was recognized by the Financial Times as one of the fastest growing companies in Europe. FT1000 Ranking For the second year. On April 28, the polarium also opened New factory In Cape Town, South Africa, it completes the company’s existing manufacturing facilities in Mexico and Vietnam. The new plant has the capacity to produce 300,000 batteries per year, which is equivalent to 4 gigawatt hours.

JP Morgan SE has acted as the sole placement agent for the investment and Mannheimer Swartling has been a legal adviser.

contact
Frederick Randall
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About Polarium
Polarium is a Swedish company that provides sustainable energy saving solutions based on lithium-ion technology for telecommunications, manufacturing and business properties. The company was founded in 2015 and contributes to a better and more sustainable world with the help of lithium technology. Today, Polarium operates 350,000 installations across the continent and in all climate zones – from the equator to the Arctic in more than 70 countries. Polarium’s head office and R&D center are located in Kista, with production in Mexico, Vietnam and South Africa, and through sales channels in Indonesia, New Zealand, Sweden, South Africa, the United Kingdom and the United States. The world. Read more at Polarium.com