Fouriertransform (FTAB) invests SEK 28 million in a rights issue in Alelion Batteries AB, which manufactures energy storage systems primarily for the automotive industry. Alelions system is used in, among other vehicles, the Fiat 500 electric car.
FTAB participates in the rights issue together with some of the existing owners, including Pegroco Invest. After the issue FTAB becomes the single largest shareholder.
"The electric car is an important part of a future, more environmentally friendly, automotive industry and the growing market is increasingly demanding more efficient energy storage systems. Alelion is uniquely positioned as a complete supplier of energy storage systems in Sweden with expertise both in developing and manufacturing the systems. With this in mind, we are convinced that Alelion will strengthen its position in the Nordic region and grow its business," says Per Nordberg, CEO of Fouriertransform.
Alelion Batteries AB was founded in 2006 and develops, manufactures and markets systems for energy storage based primarily on Li-ion batteries. The company operates in Nödinge outside Gothenburg.
"We offer customers an integrated system based entirely on the components that are asked for and which we develop in close cooperation with the customer’s development department. In order to ensure top quality, we use our own production facility. The capital injection will allow us to expand capacity and automation of production and increase our sales volumes, says Torbjörn Sundström, CEO of Alelion Batteries.
For further information
Per Nordberg, CEO Fouriertransform AB, tel +46 8 410 40 601
Christian Zeuchner, Investment Director Fouriertransform AB, tel +46 8 410 40 604
Torbjörn Sundström, CEO Alelion Batteries AB, tel +46 303 331700
Per Grunewald, Partner Pegroco Invest AB, tel: +46 705 82 19 59
Fouriertransform is a state-owned venture capital company with a task to, on a commercial basis, strengthen the international competitiveness of the Swedish automotive cluster. The company has a total investment framework of SEK 3 billion and, in addition to providing capital, its well-qualified employees and network of experts contribute their own expertise. After Q1 2010 Fouriertransform has invested in five companies with a total amount of SEK 260 m. www.fouriertransform.se
Pegroco Invest is a private equity firm that combines investments with services in M&A, capital raising and other expert advice. Investment levels are between SEK 1-10 million per investment and the company currently has several projects in the field of energy & environment.
Last updated
2010-07-06