Xpecunia Nordic AB intends to permanently reduce and eventually completely eliminate the need to buy electricity for the group's needs to invest together with Creturner in a bioenergy solution. Cost reduction of SEK 13–16 million annually
Expected effects of Xpecunia buying Creturner International
In order to permanently reduce and eventually completely eliminate the need to buy electricity, Xpecunia Nordic AB aims to invest together with Creturner in a bioenergy solution. The investment, which is estimated at SEK 20 million, is intended to be financed with a leasing solution. The investment is expected to be completed during Q1-2023 in Xpecunia's main facility. This brings a potential, with current expenses, for a cost reduction of SEK 13-16 million annually in Xpecunia, which strengthens profitability by the equivalent. The investment, calculated on an 80% operating time of one year, supplies enough electrical base energy around the clock to offset 90% of the entire energy needs of Xpecunia today. The 2.3 MW solar fields that Xpecunia has built and are nearing completion will more than cover the rest. This then corresponds to more than 100% of the electrical energy consumed today. Xpecunia will thus have significantly more energy available than what is consumed today and achieve independence from purchased electrical energy. The cost of operating the bioenergy solution corresponds to 10% of today's energy expenditure in Xpecunia.
At the same time, a solution is obtained for Creturner that gives its operations a strengthened basic manufacturing and reduced direct costs amounting to SEK 4-6 million annually. Creturner is active in real negative climate compensation where the element carbon is permanently separated from the natural cycle. Carbon (C = carbon) is the one component of carbon dioxide (CO2) that affects climate change.
By becoming a part of Xpecunia, Creturner can expand its solution faster. Costs can be shared between the companies and administration can be coordinated. The new group will be active in calculation technology and climate compensation. Both operations are expected to develop significantly in the future and with the coordination have positive cash flow in the ongoing operations on both sides. Xpecunia can continue investing faster and becomes significantly less sensitive to external price levels and Creturner can increase investments, sales and consider both national and international expansion. The board of directors in the new group will continue to be the same as in Xpecunia Nordic AB. The CEO of Creturner International AB is Joakim Erlandson, who will continue to be the responsible CEO of Creturner if it becomes a subsidiary. Daniel Moström continues to be CEO of Xpecunia Nordic AB.
Creturner has a website at creturner.com where the business is presented and a VR film can be found on the website which gives a a thorough overview of the solution. Creturner has a newly created climate compensation business where residual biomass is converted into the element carbon, which is deposited and thus permanently reduces CO2 in the atmosphere. The business can be scaled without limit to most geographical areas. Operations are expected to increase significantly in the future and contribute to the new group's profitability.
CEO: Daniel Moström – +46-70-7446901
Address: Taptogatan 6, 115 27 STOCKHOLM, Sweden
Xpecunia Nordic AB (publ) company registration number: 559152-3013