After a year of doubled sales, Polarium have secured SEK 436 million in a rights issue directed towards their majority owners to continue their growth journey and execute on their strategy.

Polarium was founded in 2015 on the conviction that safe, smart and sustainable energy storage solutions will be key to empowering the transition to a sustainable energy future. In 2022, the company grew by 106 per cent and delivered net sales of SEK 2.2 billion with a gross profit of SEK 618 million.

Polarium have now raised SEK 436 million in a rights issue directed towards their majority owners Stefan Jansson Global Invest, Vargas Holding, AMF and Alecta. The capital will secure Polarium’s financial position as the company continues to execute on their global strategy and ambitions.

LEADING SUSTAINABLE AND FULLY INTEGRATED ENERGY STORAGE PROVIDER

“Polarium’s vision is to become a leading sustainable and fully integrated energy storage provider. I am proud to see the continued and deepened support from our existing shareholders as we continue our growth journey”, says Carl-Erik Lagercrantz, chairman of Polarium.

The transaction is the latest of several important milestones for Polarium during 2023. Earlier this summer, Robert Belkic joined the company as new Chief Financial Officer from Hexagon where he also served as CFO. Adding to this, Polarium have continued their global expansion by establishing a presence in Australia, expanded into the light industry segment and launched a residential offering together with the electricity company Tibber.