Alelion’s business idea is to develop, manufacture and sell the new generation energy-efficient energy storage systems based on lithium-ion technology. The company’s core competence is around the optimizing and custom designing of battery systems and battery controllers. Alelion is based in Mölndal, Sweden.
Alelion’s primary market focus is on industrial vehicles. Target customers are OEMs/vendors of battery-driven industrial trucks such as forklifts. The primary target end-users are companies with large industrial truck fleets for their warehouses and distribution centres. Alelion’s lithium-ion solutions have many important advantages compared to the traditionally used lead-acid batteries. They haver much smaller environmental impact. Furthermore, their 2-5 times longer life, 30-40 percent higher energy efficiency and approximately 70 percent higher power to weight ratio, lowers a forklift running cost considerably. For each forklift powered by lithium-ion batteries instead of lead-acid the end-user can typically save many SEK 100.000’s over the forklift’s life.
The three most important reasons for Pegroco to invest in Alelion were: the expected market break-through for the more energy-efficient lithium-ion energy storage; Alelion’s unique know-how within battery controllers; and the company’s unique value chain position as an integrator between the OEMs and the battery cell manufacturers in Asia.
Pegroco’s main contribution to Alelion’s development has been to attract additional major owners when, in 2011, IKEA Greentech and Fouriertransform became shareholders, and to develop and lead the strategic decision to focus on the industrial vehicle sector. This is where Alelion is now making its international breakthrough.
Alelion now delivers energy storage solutions both to Toyota Material Handling and Jungheinrich, the number one and number three truck manufacturers in the world, and to one of the world’s largest truck buyers. Pegroco believes that Alelion is one to two years ahead of the competition. The continued strategy is primarily to widen the cooperation with current customers to cover their whole range of material handling vehicles. In a second stage Alelion will modify its energy storage solutions for other sectors.
Alelion held their IPO on June 21, 2016, the stock is listed on Nasdaq First North.
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