Jun 15, 2021
Permascand Top Holding AB (publ) (“Permascand”), an independent technology-driven manufacturer of electrochemical solutions, today announced that the company has signed a Letter of Intent (LOI) with Verdagy – a spin-out of Chemetry – for the development of a novel electrochemical cell to produce green hydrogen. The LOI will build on Chemetry’s successful relationship and development activities for the commercialization of electrochemical cells for Chemetry’s eShuttle® EDC process.
The purpose of the LOI is to evaluate the potential structure and process to develop and commercialize the electrochemical cell that will enable the Verdagy green hydrogen process.
Peter Lundström, CEO at Permascand commented: “We are excited to be part of this collaboration with Verdagy, offering our expertise for Verdagy’s hydrogen process commercialization and supplying the electrochemical market with high-end technology solutions that contributes to accelerating the global green transition”.
Verdagy is operating a pilot plant for a novel process to produce green hydrogen at its site in Moss Landing, California. Following the LOI, Permascand will use its expertise to ensure full reliability and a competitive cost base for the commercial electrolyzer that is a key part of Verdagy’s process.
Marty Neese, Verdagy’s CEO, said: “Collaborating with Permascand on the manufacturing scale-up of our hydrogen electrochemical cell is a key step towards rapidly commercializing Verdagy’s hydrogen technology. Through leveraging Permascand’s wealth of experience, Verdagy is confident we will be able to manufacture a reliable cell while at the same time accelerate the commercialization of our green hydrogen technology. Verdagy’s technology will safely and sustainably deliver green hydrogen at the costs necessary to enable hydrogen to be a key part of the carbon reduction needed to reduce the impact of climate change. We are very excited to have Permascand as a partner on our path to commercialization.”
About Verdagy
Verdagy is innovating water electrolysis technology for the large-scale production of green hydrogen. Verdagy’s industry leading solution has the potential to achieve both the lowest upfront capital costs and the lowest unit economics for production. The company’s technology will enable the decarbonization of large industrial sectors of the global economy and will make a very meaningful positive impact in the efforts to address climate change. Verdagy operates laboratory and pilot plant facilities in Moss Landing, California, to further develop and rapidly scale the technology platform. For more information, visit www.verdagy.com.
Jun 11, 2021
ABG Sundal Collier AB ("ABG"), in its capacity as Joint Global Coordinator, notifies that stabilisation measures have been undertaken in Permascand Top Holding AB:s (publ) (“Permascand” or the “Company”) shares traded on Nasdaq First North Premier Growth Market.
As announced in connection with the offering to acquire newly issued and existing shares in the Company and the listing of the Company’s shares on Nasdaq First North Premier Growth Market (the ”Offering”), ABG may, acting as Joint Global Coordinator and stabilisation manager, carry out transactions aimed at supporting the market price of the shares at levels above those which might otherwise prevail in the market.
Stabilisation transactions may be undertaken on Nasdaq First North Premier Growth Market in the over-the-counter market or otherwise, at any time during the period from the date of commencement of trading in the shares on Nasdaq First North Premier Growth Market, 4 June 2021, and ending no later than 30 calendar days thereafter. However, the Joint Global Coordinator has no obligation to undertake any stabilisation measures and there is no assurance that stabilisation measures will be undertaken. Under no circumstances will transactions be conducted at a price higher than the one set in the Offering, i.e. SEK 34.
The Main Shareholder of the Company have granted Joint Global Coordinator an over-allotment option which may be utilised in whole or in part for 30 days from the first day of trading of the Company's shares on Nasdaq First North Premier Growth Market to sell up to 2,229,094 shares corresponding to up to 15 percent of the total number of shares in the Offering, at a price corresponding to the price in the Offering, i.e. SEK 34 per share, to cover any over-allotment in connection with the Offering.
ABG has, in its capacity as stabilisation manager, notified that stabilisation measures have been undertaken in accordance with article 5(4) of the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 on Nasdaq First North Premier Growth Market, as specified below. The contact person at ABG is Erik Skog (tel: +46 8 566 27 471, e-mail: erik.skog@abgsc.se).
| Stabilisation information: |
| Issuer: |
Permascand Top Holding AB (publ) |
| Securities: |
Ordinary shares (ISIN: SE0015962048) |
| Offering size: |
14,860,627 shares |
| Over-allotment option: |
2,229,094 shares |
| Offer price: |
34 SEK |
| Ticker: |
PSCAND |
| Stabilisation manager: |
ABG Sundal Collier AB |
| Stabilisation transactions: |
| Date |
Quantity, shares |
Price (highest) |
Price (lowest) |
Price (volume weighted average) |
Curr-ency |
Trading venue |
| 4 June 2021 |
121,194 |
34.00 |
34.00 |
34.00 |
SEK |
Nasdaq First North Growth Market |
Jan 22, 2021
Permascand, an independent technology-driven manufacturer of world-leading electrochemical solutions, strengthens its position within hydrogen production by partnering in the development of the Swedish Hydrogen Center, a new knowledge center for electrolysis and renewable hydrogen.
Swedish Hydrogen Center will function as a test bed for evaluation and testing of clean tech components and applications. Sweden's climate goal is to achieve a completely fossil-free power generation by 2040, and a fossil-independent vehicle fleet in use by 2030. Electrolysis and renewable hydrogen will play a crucial role in the transition to a climate-neutral society through emission-free transports and industrial processes, as well as energy storage. As a partner in the Swedish Hydrogen Center, Permascand will be able to further develop its technology to secure its position as one of the leading players in the field of renewable hydrogen.
“The global interest in electrolysis and renewable hydrogen is growing explosively driven by electrification and increased demand for green energy. The Swedish Hydrogen Center will give us the opportunity to be part of first-class research and development in clean tech applications. This makes Permascand even better positioned to meet the great commercial potential in this segment,” said Peter Lundström, CEO of Permascand.
The project is run by RISE (Research Institute of Sweden) and the industrial research institute Swerim with project funding from Vinnova. Industrial partners such as Boliden, Sandvik and Siemens are also participating in the project. The hydrogen infrastructure will be established at Swerim's facility in Luleå, Sweden and the full testbed platform is expected to be put into operation in the autumn of 2022.
Read more about the Swedish Hydrogen Center here.
Dec 17, 2020
Permascand has increased its manufacturing capacity through the installation of an automated production line in its factory in Ljungaverk. The automation is part of the company's strategy to meet the increased demand for the company's products.
Electrochemical solutions play a vital part in the global green technology transition. To meet the increasing demand, Permascand has automated and streamlined its production.
The automation of production will mainly increase the capacity to produce critical products used in systems for efficient and sustainable sea water treatment in vessels. The accelerating demand is largely driven by stricter international regulations in disinfecting ballast water implemented by the International Maritime Organization (IMO), and the US Coast Guard.
"We are experiencing several mega trends driving demand in our end markets, both in green technology such as renewable energy and energy storage, as well as in the marine sector where our electrochemical cells are essential for vessels to comply with international sustainability rules. Automation takes our production to the next level and gives us the capacity increase we need to meet the growing demand for our products," said Peter Lundström, CEO of Permascand.
The robots in the production line cut out electrodes of the right size and then assemble them into bipolar electrodes. This step of the production will be accomplished twice as fast, while less material will go to waste, since it will be done automatically. Production will be more efficient as well as more sustainable and can now be carried out at high capacity 24 hours a day.
Nov 23, 2020
Permascand strengthens its Board of Directors by appointing the experienced members Per Lindberg and Johan Karlsson as the company is entering a new industrial phase. Per Lindberg, with extensive experience from leading and developing companies in an international environment, assumes the role as Chairman of the Board.
The global trends in electrification and increased demand for renewable energy are driving the global transition to clean technology. Permascand’s electrochemical solutions are a vital part of enabling the development in these areas, for a more sustainable future.
“Permascand plays an important role in the green transition and is experiencing a rapid growth in demand for the company's products. It is a technology driven company with a leading market position further fuelled by the strong growth in demand. I look forward to contributing with my knowledge and experience to further strengthen the company”, said Permascand's newly appointed Chairman of the Board, Per Lindberg.
Per Lindberg, born in 1959, has extensive experience from leading positions within the Swedish industrial sector. Between 2005 and 2018, he led Billerud and later BillerudKorsnäs as President and CEO. Thereafter, Per Lindberg was President and CEO of Epiroc, which was successfully established as a listed company following the spin-off from Atlas Copco. Per Lindberg holds an MSc, and a PhD, from Chalmers University of Technology. Since 2010, he is a member of the Royal Swedish Academy of Engineering Sciences, IVA.
Johan Karlsson, born in 1965, is the CFO of Dustin Group and Chairman of the Board of Adlibris. He has a broad financial background in IT and retail, and has previously worked at Techdata, ACO and Unilever. Johan Karlsson holds an MSc in Business and Economics from the Gothenburg School of Economics.
