Flower Technologies AB signed an agreement to acquire 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2) on April 3, 2024. OX2 started construction of Bredhälla, located in the municipality of Uppvidinge in Southern Sweden, in late 2022. The facility consists of batteries utilizing lithium-ion technology with a total capacity of 42.5 MW / 42.5 MWh spread across 20 containers. Once commissioned, OX2 will be responsible for the technical and commercial management under a 10-year agreement. The transaction is conditional on approval from the Swedish authorities and Svenska Kraftnät and is expected to close during the second quarter of 2024.

Peter Sundgren, Gustav Wahlberg, Albert Wållgren, Jolinn Uhlin, Johan Cederblad, Lina Österberg, Jolene Reimersson, Carl Lexenberg, Daniel Prawitz, Clara Klingspor, Daniel Wendelsson, Felizia Wiker, Dagne Sabockis and Alva Chambert of Advokatfirman Vinge KB acted as legal advisor to Flower Technologies AB.

Flower Technologies AB completed the acquisition of 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2) on June 12, 2024. The transaction has now been completed following the approval from Svenska Kraftnät, the Swedish authority operating the transmission system. Once commissioned, OX2 will be responsible for the technical and commercial management under a five-year agreement.