Citing the lack of governmental support, the Swedish-American firm has abandoned its plans to establish a battery factory within the Port of Malmö, instead looking at setting up the plant in the US.

The scratched facility was meant to cover 50,000-200,000 square metres and provide 5,000 jobs.

"We have always said that we need some form of investment support from the government to be able to implement such a large factory project. But we unfortunately did not hear about that in our talks with the authorities in the capital," Lars Jacobsson, TEXEL Energy Storage's CEO, commented to Sydsvenskan.

He also shared, "The Swedish state, for example, has invested huge amounts of money in supporting Northvolt that develops lithium batteries, which today turns out not to have been such a well-thought-out investment. But when you ‘burn all the gunpowder’ on lithium batteries, believing it'll be the only technology that will prevail for all eternity, there will not be many resources left for actors who develop other technologies."

TEXEL Energy Storage has come up with a thermal energy-to-electricity solution that's aimed at large-scale applications, from vehicles through vessels to cities. They say their batteries do not contain cobalt or other rare earth minerals. The company also underlines that "our system is distinguished by its minimal cyclic degradation, capable of storing energy for centuries with negligible losses."

Source: Dagens Logistik

Photo: Copenhagen Malmö Port