Subject: CON
TEXEL Energy AB and Jord AB Expand Their Partnership to Convert Rapid-Growth C4 Grass into scalable Green Electricity
GOTHENBURG, Sweden, April 10, 2024 /PRNewswire/ -- TEXEL Energy is further investing in Jord AB, and simultaneously, the companies have signed an agreement to adapt TEXEL's energy production technology to generate electricity from Jord's pellets and briquettes, made from C4 grass. Jord's ambition is to cultivate the world's fastest-growing biomass (C4 grass) at various locations around the globe to convert it into renewable fuel in the form of pellets and briquettes.
Jord has existing cultivations of this special grass in both Senegal and the Dominican Republic, and with TEXEL's recent acquisition of assets from the publicly listed Swedish Stirling, as well as certain assets from the formerly listed AZELIO, TEXEL has taken over assets which are now to be adapted to convert C4 grass into scalable electricity. The project is regarded as an important part in the global energy transition.
"The expansion of our partnership with Jord AB represents a natural progression in TEXEL's strategy to diversify within the scalable and sustainable energy sector. This investment not only increases TEXEL's stake in Jord AB but also secures exclusive rights to enhance the application of our technology for generating green electricity from Jord AB's C4 pellets. This initiative not only broadens the scope of our core business and technology but also opens up new market opportunities," states Lars Jacobsson, CEO and founder of TEXEL Energy AB.
With increasing interest in technologies that convert heat and biofuel into electricity, TEXEL sees significant potential in the market. The company has established itself as a global leader in this field and anticipates an increased need for the volume production of engines to meet the rising demand. Stirling technology offers versatile solutions and plays a central role in the ongoing energy transformation.
"Our sustainable biofuel can replace various types of fossil fuels and can also be integrated into a new, modern technology for electricity production that the collaboration with TEXEL will lead to. TEXEL and JORD can address the challenges of local electricity production in areas where it is currently very difficult to create a sustainable electricity supply," says Peder Dagsánth, CEO of Jord AB.
The combination of cultivating the world's fastest-growing biomass and being able to produce scalable and sustainable energy in areas where energy supply is often scarce represents a unique opportunity, not only for both companies but also for creating sustainable growth in these regions.
CONTACT:
Daniel Wilke
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+46736329827
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SOURCE TEXEL Energy Storage
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