Continues to prepare for the next steps - Q3 initial

Q3 sales were slightly lower than we expected but EBIT was slightly better. SaltX continues to prepare for Holcim’s pilot plant, having completed the industrial tests with good results. The implementation phase is planned to start in 2028.

Better EBIT than we expected. Sales were SEK6m (we forecast SEK10m) and EBIT was SEK-19m (we estimated SEK-25m). Cash flow from operations was SEK-14m and cash was SEK86m at quarter-end.

Next steps for Holcim. The industrial test programme for electrified pre-calcination of cement raw meal at the Hofors plant is now finished. All targets for the degree of calcination, material quality and operational stability were met. The next step is to translate the results into a pilot plant in Europe for electrified calcination of cement raw meal. SaltX plans to enter the implementation phase in 2028. This means SaltX is moving from verifying the technology to preparing it for implementation at its customers’ facilities.

Groupe Pigeon’s feasibility study completed. SMA Minerals has not yet decided whether to begin construction of the pilot plant in Mo i Rana, as the long-term grid capacity for the larger scale facility is still unclear. The feasibility study for the electrified lime production facility with Group Pigeon is completed and the project now moves to the next phase, with construction planned to start in 2028.

Continues to scale its technology. The Frontier-funded Multi Plasma project is entering its next phase. The first reactor has been installed at the test facility in Hofors, and commissioning is scheduled to begin shortly. This marks an important step toward developing EAC technology for higher capacity. The aim is to develop a common technology platform for use in lime, cement and other high-temperature processes.