SaltX Technology – listed on Nasdaq First North in Stockholm – and the world’s third largest wind turbine manufacturer, Xinjiang Goldwind Science & Technology Co., Ltd (“Goldwind”), have signed a Letter of Intent to jointly develop and commercialize a new, groundbreaking solution for wind power with integrated energy storage. The first objective of this strategic partnership is to demonstrate the solution in a megawatt-scale system at Goldwind’s corporate park in Beijing. The project will start immediately and focus on SaltX EnerStore concept, but may also include SunCool collectors.

In the cooperation, Goldwind wishes to integrate SaltX EnerStore technology into its wind power system of a megawatt-scale smart micro-grid project in Beijing by implementing a demonstration plant. Goldwind sees a growing demand for Power-to-Heat & Power solution, which is SaltX thermal energy storage very suitable.

"As wind power grows faster than any other energy source on the planet today, the market demand for large-scale energy storage is indispensable. Goldwind decided to cooperate with SaltX because we offer an alternative to batteries that is more viable and cost effective to store large amount of energy. We are very proud to have attracted a global leader in this area – it once again verifies that SaltX has a world leading technology." said Karl Bohman, CEO of SaltX Technology.

Goldwind is also considering demonstrating the SunCool-concept by installing solar thermal collectors with integrated cooling and energy storage. The SunCool products will be delivered by SunCool partner in China - Ningbo Shenggu Energy Conservation Technology Co., Ltd (“NSECT”).

The parties intend to install and commission the demonstration plant in Beijing during the second half of 2018. The value of the project for SaltX will be determined during the design and engineering phase in 2017 and is estimated to be significant.

To see an animation of how EnerStore can be applied in a wind application click here: https://youtu.be/HAJHj0P-3Ro

For further information, please contact:

Karl Bohman, CEO SaltX Technology, tel: +46-705 600 268

About Goldwind

Xinjiang Goldwind Science & Technology Co., Ltd is a world leading wind power technology and clean energy solutions provider (Shenzen stock SZSE:002202 and Hong Kong stock HK:2208). With more than 38 GW of capacity worldwide, Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers its innovative comprehensive solutions for renewable energy development, including equipment manufacturing and sales, service, and investment. To learn more, visit www.goldwindglobal.com.

About SaltX and EnerStore

SaltX has developed and patented a Nano-Coated Salt (NCS) energy storage technology that is applied in the SaltX business area for large-scale energy storage for heat and power generation - EnerStore. By coating the SaltX material with different forms of nano-particles, more energy can be stored in the salt and corrosion is prevented. The material enables high capacity to store intermittent energy sources such as wind and solar energy, with minimal storage losses and in a cost-effective manner.

About SaltX Technology

SaltX Technology develops and sells patented energy storage technology, which is marketed under the brand SaltX ™. Customers consist mainly of major global OEM partners such as Alfa Laval, Mobile Climate Control and Rheem. SaltX Technology's stock is listed on Nasdaq Stockholm First North. FNCA Sweden AB is SaltX Technology’s Certified Adviser. For more information, visit www.saltxtechnology.com.