SaltX further focuses on large-scale energy storage

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- Reduced costs strengthens the company’s financial sustainability

The energy storage company SaltX Technology - listed on Nasdaq First North Premier - carries out a cut in costs to strengthen the company's financial sustainability and further focus on the market for large-scale energy storage.

The company wants to create the conditions for further focus and concentration on the opportunities offered within the SaltX solution for large-scale energy storage - EnerStore. This especially in light of the successful opening and start-up of the pilot plant at Vattenfall in Berlin last month. It is estimated that it will take some more time before positive cash flow can be achieved and thus cost reductions are implemented to strengthen the financial sustainability. This affects about seven positions in the company. A lower cost level is expected to be achieved in the second half of 2019.

The response we received from potential customers and partners at last month's inauguration in Berlin was great. It strengthens us in the assessment of the commercial potential our solution has, and at the same time we are encouraged when it comes to how we can contribute to significant progress in reducing climate change. It is important that we create endurance and focus to take advantage of these opportunities. Making the staff reduction in an already small company is a sad thing and challenging, but I am convinced that our strong and focused team will succeed in the market for energy storage.” says Carl-Johan Linér, CEO of SaltX Technology.

For further information, please contact:
Carl-Johan Linér, CEO of SaltX Technology, tel +46-70 532 08 08

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About SaltX Technology
SaltX Technology develops and sells a patented energy storage technology.
SaltX Technology's share is listed on Nasdaq Stockholm First North Premier. FNCA Sweden AB, +46-8-528 00 399, info@fnca.se, is SaltX Technology's certified advisor. For more information, visit: www.saltxtechnology.com

Stockholm, May 21, 2019