Oil and gas

Swedish Stirling is a Swedish clean technology company who specialise in the conversion of heat to electricity for commercial use. They offer solutions that enable power generation at low prices, compared to other climate-friendly and sustainable alternatives.

The company's latest product, the PWR BLOK 400-F, is a container-based solution in which Swedish Stirling’s engines convert industrial residual and flare gases into electrical energy at a high rate of efficiency. As part of the company’s strategic plan to become a listed company on a regulated market and to further commercialise this new product, additional investors were needed.

However, one of the key requirements for the investors was assurance that the PWR-BLOK 400-F would not only provide a positive return on investment, but equally have a positive impact on the environment.

LR's Technology Qualification (TQ) is a goal-based approach to risk, which delivers a robust and systematic risk assessment and verification process that demonstrates uncertainties introduced by a new technology, have been considered and any associated risks mitigated.

We carried out our independent technology qualification assessment exercise on the PWR BLOK 400-F. Upon reviewing relevant documentation and conclusions, we confirmed that the technology goals as defined in Technology Qualification PWR BLOK, Technology Appraisal (2019), were fully achieved.

We also evaluated the maturity and risks associated with the technology, certifying that it is capable of meeting its ambitions regarding environmental benefit.

The process of obtaining the TQ certificate was split into 3 stages:

1. Technology appraisal
2. TQ plan
3. Execute, review and certification

Specifically, we helped to:

• Provide potential new investors with the confidence that the PWR BLOK technology will give a positive financial return and have a positive impact on the environment.
• Identify and remove potential barriers related to evaluating environmental benefits with minimum effort.

As a result of LR's TQ certification, Swedish Stirling AB can now successfully provide potential investors the necessary evidence and confidence regarding the environmental benefits and positive financial return of their product.