American electricity grid technology company lists on Nasdaq First North today
Has big plans for expansion in Europe with unique technology
May 18, 2021
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Today, Tuesday, May 18, 2021, is the first day of trading for the American electricity grid technology company Smart Wires Technology Ltd’s shares on Nasdaq First North Growth Market in Stockholm. With a unique digital technology and a massive demand for modern, sustainable solutions on today and tomorrow’s electricity grid, the company expects strong growth.
“We are thrilled to be listed in Sweden on First North. As a nation, Sweden is a world leader in climate change mitigation issues and has very ambitious emissions targets. First North investors have fully embraced this mentality and have a strong commitment to and knowledge of sustainability issues,” says Peter Wells, CEO of Smart Wires.
Smart Wires is a grid technology company from the USA that offers advanced hardware and software innovations for high voltage electricity networks. With the company’s flexible and modular products, the capacity of electricity networks can be improved and optimized to enable a rapid and affordable energy transition towards a fossil-free society.
Smart Wires looked at several European markets to raise capital and ultimately chose the Nasdaq First North Growth market.
“There are a variety of reasons why we chose Nasdaq First North – the market’s focus on ESG, the investor profile and our company’s size. Our strong and growing customer base in Europe furthered this decision. And listing on First North gives is a variety of options regarding our future engagement in public markets.”
Smart Wires has major expansion plans in the rapidly growing electricity grid market in Europe, where more and more people are opting out of fossil energy. These consumer, business and national choices drive the need for electricity network companies to leverage technologies to modernize, optimize and monetize grid capacity.
“There is an obvious need for modern solutions to improve the electricity grid of today and tomorrow. At Smart Wires, we are uniquely positioned to lead in this space,” says Peter Wells.
Several Swedish institutional investors have invested in Smart Wires such as Fjärde AP-fonden and Handelsbanken Fonder. Non-Swedish investors include Goldman Sachs Asset Management, UBS and Erste Asset Management.
For further information please contact:
Evan Geisert, CFO
Evan.Geisert@smartwires.com +1 (919) 307 9263
Ludvig.Gauffin@halvarsson.se, +46 76 109 05 57
Smart Wires’ Certified Adviser is Erik Penser Bank AB, represented by Torbjörn Nordlöf. For more information about Erik Penser Bank AB, see contact details below.
Erik Penser Bank AB, Apelbergsgatan 27, Box 7405, 103 91 Stockholm
E-post, email@example.com , Tel 08-463 83 00, www.penser.se
ABOUT SMART WIRES TECHNOLOGY LTD.
Smart Wires conducts grid technology business that helps utilize, modernize, optimize and monetize grid capacity to meet the demands and opportunities of the energy transition. The Company operates in the global transmission grid technology market and is a leader in modular power flow control technology. Power flow control technology controls and directs power flow on high voltage electric transmission systems. Smart Wires serves transmission owners, primarily electric utilities. Transmission owners use power flow controllers to eliminate line overloads by redirecting power to other lines, to reduce transmission congestion, and to enable renewable energy connection and dispatch. Currently, Smart Wires’ main projects are located in Europe, the United States and Australia with upcoming projects in South America and Canada. The Company has a large customer base comprised of utilities globally. For more information, please visit www.smartwires.com.
This press release does not constitute an offer or a solicitation to sell or acquire securities in the Company in any jurisdiction. The contents of this press release have been prepared by the Company and the Company is solely responsible for the contents hereof.
This announcement does not include any offer to the public to subscribe for SDRs or otherwise acquire SDRs or other financial instruments in Smart Wires, whether in Sweden or other jurisdiction. This press release does not constitute a prospectus in accordance with the Prospectus Regulation. Investors should not subscribe or deal in securities referred to in this press release.
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The shares in the Company have not been registered and will not be registered under the United States Securities Act of 1933 as amended (the “Securities Act”) or under the securities laws of any state or other jurisdiction in the United States and may not be offered, sold or otherwise transferred, directly or indirectly, in or to the United States, except in accordance with an applicable exemption from or through a transaction that is not subject to the registration requirements of the Securities Act and in accordance with the securities laws of the relevant state or other jurisdiction in the United States.
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Furthermore, the securities mentioned in this press release have not been registered and will not be registered under any applicable securities law in Hong Kong, Canada, New Zealand, Japan, Singapore, Switzerland, South Korea or South Africa and may, with certain exceptions, not be offered or sold to or within, or on behalf of a person or for the benefit of a person who is registered, resident or located in, these countries.
In the EEA Member States, this press release and the information contained herein are intended only for and directed to qualified investors as defined in the Prospectus Regulation. The securities mentioned in this press release are not intended to be offered to the public in any EEA Member State and are only available to qualified investors except in accordance with exceptions in the Prospectus Regulation. Any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such securities will only be processed for qualified investors. Persons in any EEA Member State who are not qualified investors should not take any actions based on this press release, nor rely on it.
This press release contains certain forward-looking information and statements that reflect the Company’s current views on future events as well as financial and operational developments. Words such as “refer”, “assess”, “expect”, “can”, “plan”, “estimate”, “calculate”, “could” and other expressions that indicate indications or assessments regarding future developments or trends, and which does not relate to historical facts, constitutes forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking information does not constitute a guarantee regarding future results or development and the actual outcome may differ materially from what is stated in forward-looking information. Neither the Company nor anyone else make any representations about publishing updates or revisions of forward-looking information as a result of new information, future events or similar circumstances other than as provided by applicable mandatory rules and regulations.
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