OX2 has signed an agreement with Flower, to sell the energy storage facility Bredhälla in Sweden. 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.

Bredhälla will provide ancillary services to Svenska Kraftnät, the Swedish authority operating the transmission system, to ensure stability in the electricity grid. Additionally, it will also participate in wholesale markets by providing energy arbitrage. The transaction is conditional on approval from the Swedish authorities and Svenska Kraftnät and is expected to close during the second quarter of 2024.

Once commissioned, OX2 will be responsible for the technical and commercial management under a 10-year agreement.