Climeon has signed a 1.1 MEUR contract with UAB Termolink in Lithuania for the sale of Climeon’s HeatPower 300 waste heat recovery system, which will provide on-site clean electricity at NEO GROUP’s PET resins production facility.
The order consists of two HeatPower 300 modules, Climeon’s latest HeatPower technology, and will be delivered and installed in the first half of 2024. Recovering on-site waste heat for power production will increase energy efficiency at NEO GROUP’s plant in Klaipeda.
“We look forward to partnering with Termolink to support the sustainable energy transition in Lithuania. Climeon’s HeatPower 300 technology provides the perfect opportunity for producing clean on-site electricity and we are delighted to collaborate with the expert teams at Termolink and NEO GROUP”, says Lena Sundquist, CEO at Climeon.
Engineering, procurement and construction (EPC) firm, Termolink, will be responsible for installing the HeatPower 300 modules at NEO GROUP’s plant, with Climeon’s team commissioning the waste heat recovery units. Climeon’s HeatPower 300 technology converts waste heat into clean, carbon-free electricity. By increasing on-site energy efficiency, HeatPower 300 empowers industrial companies to reduce emissions and transition to a more sustainable future.
"Termolink is proud to work with Climeon to offer our customer a waste heat recovery system which will not only provide a cost-effective energy-saving technical solution but will also contribute to their commitment to sustainability. As demand for sustainable technology increases, we are pleased to be able to provide the industrial community with workable solutions, like Climeon’s HeatPower technology, that enable them to meet their strategic, operational and environmental objectives”, says Valdas Garmus, CEO at Termolink.
“For almost 15 years NEO GROUP investments are dedicated to the projects of efficient energy consumption and reduction of fossil raw materials, so the decision to incorporate Climeon's waste heat recovery technology into our plant is a consistent step for our team and continuous contribution both to national energy consumption goals and to the general climate and energy goals set out in the "Europe 2030" strategy. Climeon’s technology allows us to save on electricity costs, while reducing our impact on the environment”, comments Ruslanas Radajevas, General director NEO GROUP
FOR MORE INFORMATION, PLEASE CONTACT:
Lena Sundquist, CEO, Climeon
+46 708 345 228
Carl Arnesson, CFO, Climeon
+46 700 80 75 00
About Climeon AB
Climeon is a Swedish product company operating within the energy technology sector. Climeon’s proprietary technology, the Climeon HeatPower system, uses an Organic Rankine Cycle (ORC) process to convert low-temperature heat into clean, carbon free electricity. Providing access to dependable and cost-effective sustainable power, HeatPower enables industries to increase energy efficiency, decrease fuel consumption, and reduce emissions. As a non-weather-dependent source of green energy, HeatPower has the potential to diversify and safeguard the renewable energy mix and, therefore, accelerate the global transition to a net-zero future. Climeon’s B shares are listed on the Nasdaq First North Premier Growth Market. FNCA Sweden AB is a Certified Adviser. Learn more at climeon.com.
About UAB Termolink
Termolink provides technical solutions for the construction, reconstruction, modernization, repair and technical service of energy facilities. The company manufactures, designs, assembles, installs, performs start-up and tuning works, operates commercial and industrial boilers, fueled with biofuel, gas, liquid fuel. Visit termolink.lt to learn more.
About NEO GROUP UAB
NEO GROUP is one of the largest producers of polyethene terephthalate (PET) resin in Europe, located near the port of Klaipėda. It started its activities in Lithuania in 2004 and still is the largest greenfield investment in Lithuania. Currently, the factory produces over 450 thousand tonnes of PET resin annually, corresponding to 14% of total European production of PET resin for food and beverage packaging. Visit neogroup.eu to learn more.