We have recently published our report for the first quarter of the year, May – July 2021. Although summer is the low season of the heating market, we close the quarter in line with management's and the board's expectations. We are also entering the coming high season with a strong order intake. "Our strategy feels so right," says CEO Fredrik Sävenstrand.
Many exciting events have occurred in recent months. Among other things, the company's board has a new chairman in Per Wassén. He joined as a board member in December 2020 and was now elected chairman in August. Per comes most recently from PowerCell and contributes with experience and knowledge about the transformation of the energy sector and about renewable energy systems.
El-Björn, with whom Energy Save began cooperating earlier this year, is launching a new business area, El-Björn Energi, for the sale of, among other things, Energy Save's products. The in-depth collaboration broadens and strengthens Energy Save's distribution chain, and with El-Björn's new business area it becomes even clearer for the customer where they can find a complete solution for green energy.
An agreement on initial cooperation with Powercell has been entered, where the purpose is to test and evaluate possible synergies between Energy Save's heat pump system and Powercell's fuel cell system. The collaboration will be conducted in project form and a prototype system will initially be developed and tested.
During the summer, Energy Save has established a regional sales office in the Stockholm area, focusing on increasing its market presence in the Stockholm region. The establishment is a strategically important step when the company's new concept is to be rolled out throughout Scandinavia.
An important event for the company is that the Swedish government on the 1st of July decided to issue the law on climate declarations for new buildings. The new law enters into force on 1st of January 2022 and means that the client must submit information to the National Board of Housing, Building and Planning about the climate impact that a new building has during construction. The construction sector accounts for about 20 percent of Sweden's domestic greenhouse gas emissions and has high demands on itself to achieve climate goals. Heating and drying is the easiest issue to handle and an easy area to start with, where the construction sector can quickly show a reduced climate impact together with a reduced cost of the projects. Energy Save's solutions in Temporary Climate can help the construction sector reduce CO2 emissions by up to 80 percent.
The Chinese Patent Office has announced that they will approve Energy Save's patent application for the company's Plug-in Modules in China. Five years ago, the Chinese government prioritized efforts to reduce environmental and air pollution. The government program Coal to Electricity Project has in recent years involved large investments in heat pumps in the suburbs of Beijing, where heat in homes previously came from the combustion of coal. The patent opens for future opportunities in the Chinese market.
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