SENS signs agreement with state owned mining company DIAMO in Czech Republic

26 September 2022, 18:34 | Regulatory press release

Sustainable Energy Solutions Sweden Holding AB ("SENS" or the "Company") announces today that the Company has entered into an agreement with the Czech mining company DIAMO. The collaboration involves a feasibility study at the Rožná mine in the Czech Republic which aims to investigate the potential for building a pumped storage power plant and developing long duration energy storage.

Sustainable Energy Solutions Sweden Holding AB - Stock and Shares News | IPO HUBSENS has entered into a new agreement with the Czech mining company DIAMO to investigate the feasibility of constructing an underground pumped storage facility at the disused uranium site and mine in Rožná, Czech Republic. The parties have agreed that SENS will, over a period of 14 weeks, investigate the suitability of pumped storage for large-scale long-term energy storage.

SENS is project managing and responsible for the implementation of the feasibility study and will provide expertise and resources for executing the assignment. For SENS, the pilot study will serve as a reference object and generate valuable survey reports that can be used in future projects. The order value of the feasibility study is €8,000.

Henrik Boman, CEO of SENS, comments:
"We are delighted to have signed an agreement with DIAMO to explore together at an early stage how we can utilise the Rožná mine and enable an energy storage solution. For SENS, we will create added value in the form of survey reports that will generate useful data that we can use in similar projects in the future.”

For further information, please contact:
Henrik Boman, VD; Tel: 070-224 63 61

The information was provided, through the above contact person, for publication on September 26, 2022 at 08.30 p.m.

About SENS
Sustainable Energy Solutions Sweden Holding AB (publ)(SENS), provides sustainable energy solutions enabling the transition to a fossil-free and CO2 neutral energy mix both locally and internationally. SENS develops, designs, constructs and sells large-scale energy projects combining renewable energy sources with next generation energy storage technologies such as underground pumped hydro storage (UPHS) and/or battery energy storage systems (BESS). The company also conducts technical advisory consultancy services within energy storage and energy systems optimisation. The company is listed on NGM Nordic SME under the short name SUST.

DIAMO, a state-owned company based in Stráž pod Ralskem, is an organisation that works mainly to eliminate the consequences of uranium, ore and, to some extent, coal mining in the Czech Republic. It includes liquidation, clean-up and restoration of activities and facilities associated with the extraction and processing of minerals and other industrial activities, the mitigation of environmental damage caused by these activities, and the administration and maintenance of the associated burdens in the Czech Republic. DIAMO also carries out state-guaranteed and environmentally friendly investigations of sites for special interventions in the earth's crust for the underground storage of radioactive waste. In 1991, DIAMO took over all responsibilities from the former Czechoslovak Uranium Industry Company.

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