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ANODOX PIVOTS

12 March 2024

GREEN BREAKTHROUGH VENTURES INVESTS

12 March 2024

FROM HYPER-CARS TO MEGA-FACTORIES

12 March 2024

EV ENGINEERING SWEDEN

12 March 2024

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NOVAZURE INVESTS

12 Mar 2024

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  • NovAzure makes a follow-on commitment to Anodox, who had recently secured backing from a leading Swedish investor
  • Innovative battery technologies have patents pending
  • Strong order book and strong operational team provides a solid foundation for growth.

NovAzure, an international venture builder and investor in promising early energy and mobility startups, are pleased to announce a follow-on investment into Anodox AB, to support the development of energy systems that use state of the art lithium-ion batteries.

Founded in 2016, Anodox has recently pivoted from being an energy systems consultant to become a product company. It has now brought innovative products to market, based on its leadership team’s prior experience in both mainstream and niche automotive.

Patent pending technology will enable Anodox to supply more sustainable and safer products than the market incumbents. The Company is currently developing a family of 48V batteries using this technology. The aim is to increase energy density, performance and safety.

Overall, NovAzure has now invested twice into Anodox. The latest follows significant backing from Pegroco – a Swedish investor that supports smaller and medium sized companies.

Commenting on the investment, Christopher Gruen, Director at NovAzure, said:

Anodox has demonstrated extraordinary progress in developing truly commercially compelling and technically appealing battery products for the automotive, marine and grid applications and has a high performing and knowledgeable leadership team behind them. With exploding global demand for electrification of transport and renewable electricity outstripping supply for batteries, it’s no surprise that major players in mobility and grid have shown interest in Anodox’s manufacturing capabilities, industry know-how and proprietary technology. We are, therefore, excited to continue our support for Anodox both with this follow-on investment and engagement through NovAzure’s venture builder programme.

Theodore Zannakis, co-founder, Anodox comments:

We are delighted to continue to receive the support of NovAzure, which has enabled Anodox to develop and commercialise a range of batteries that will be truly game-changing in reducing key environmental and safety issues in end use applications such as boats, EVs and off-grid dwellings.

 

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Terms & Conditions

Introductory provisions

  1. Applicability

ANODOX AB's (" ANODOX ") General Terms and Conditions of Sale - Company apply to the delivery of products and services to customers from and including the above date and replace previously published terms and conditions of sale by ANODOX.

Special provisions for delivery of product and service can be found under the respective headings below. Furthermore, general provisions can be found under a special heading applicable to all deliveries.

These General Terms and Conditions of Sale apply in applicable parts to all orders placed by customers in the exercise of their profession or business and delivery of products and/or services by ANODOX unless otherwise agreed. These General Terms and Conditions of Sale, together with applicable orders or specific conditions that refer to them, shall hereafter be referred to as the "Agreement".

If you shop as a consumer, the General Terms and Conditions - Consumer apply instead .

Special provisions for product delivery

  1. Product Information

The goods presented on ANODOX's website constitute ANODOX's regular range. In the event of any difference between conditions, product information or prices stated on ANODOX's website and in other publications, the information on the website takes precedence.

  1. Prices and shipping

Current prices for products are provided on ANODOX's website, which is updated in real time. The prices are stated in SEK or EUR, excluding VAT and other possible additional taxes and fees attributable to the products. Cost of shipping is added. ANODOX reserves the right to change prices without prior notice. The price stated on the website applies unless otherwise specifically agreed.

ANODOX's prices for import products that do not constitute standard stock items are based on exchange rates valid on the invoice date. Upon receipt of the order, a preliminary selling price is specified based on the exchange rate applicable at the time of the order. When invoicing, the price may be adjusted in accordance with the current exchange rate for the day and determined by ANODOX.

Shipping may be added to all deliveries. The total shipping cost is calculated when invoicing the order when it is clear what the shipment weighs, if the shipment is bulky, if the shipment must be delivered on a pallet or if it includes several parcels. Untriggered packages are charged a fee.

Read more about shipping cost and calculation of the package

  1. Payment terms and security

Payment can be made through the current payment methods and primarily through payment by credit card, direct payment via internet banking or by invoice. Invoicing linked to credit takes place after a special credit check. Payment can also be made through financing via a partner of ANODOX.

The invoice must be paid so that the invoice amount is available in ANODOX's bank account no later than ten (10) days from the invoice date ("Due Date"). In the event of late payment, ANODOX has the right to charge late payment interest according to the Interest Act as well as a statutory reminder fee and collection fee, including collection costs.

ANODOX charges an invoicing fee per invoice if the customer requests a paper invoice. Errors in an invoice from ANODOX must be reported no later than the due date. If a complaint is not made in time, the error cannot be asserted against ANODOX.

The products remain the property of ANODOX until full payment has been made.

If there is reasonable doubt regarding the customer's ability to pay, ANODOX has the right to shorten the credit period (Due Date), demand advance payment or other security for future deliveries.

  1. Order and order confirmation

By making a purchase at ANODOX, the customer accepts these General Terms and Conditions of Sale. By accepting the terms, the customer undertakes to comply with the terms in their entirety.

When placing an order, a confirmation of receipt is sent with a heading via e-mail. This confirmation of receipt constitutes information about the contents of the order. In connection with the order being dispatched from ANODOX's warehouse, the customer receives an order confirmation via e-mail. The customer can also see the status of the order by logging into the customer account. Binding agreements between the parties come into being upon order confirmation to the customer, however, the customer is bound by his order after placing the order.

  1. Delivery

Delivery takes place within EUROPE and by ANODOX's hired carrier or courier with delivery conditions: Free ANODOX's warehouse according to Incoterms ® 2020. The risk of delivery passes to the customer when the product is handed over by ANODOX to the carrier.

ANODOX bears no responsibility whatsoever for delivery delays, regardless of whether the delay is due to a delay with the carrier, a delay or a backlog with the product manufacturer or some other condition.

ANODOX has the right to refuse delivery and refuse orders to certain geographical destinations if ANODOX deems it necessary, for example if special regulations apply to such destinations.

  1. Redemption

Under the conditions below, ANODOX accepts the repurchase of a product from the regular range within fourteen (14) days from the invoice date. When returning the product, it must be unused and returned in unopened original packaging, free of dirt, markings and damage.

The customer must pay shipping for the repurchase return and any repurchase fee. Shipping costs and any repurchase fee are charged to the customer's credit balance with ANODOX or are invoiced separately.

In the event of a request for a repurchase, the customer must contact ANODOX, preferably via My Account/Order History on ANODOX's website and create a case there. Please note that obtaining a case number or sending a return slip does not mean that ANODOX has approved the repurchase. The customer must return the product to ANODOX together with a copy of the order form and information about the case number. The product must be returned and be available to ANODOX no later than 14 days after the customer receives the case number. The freight must be paid and the product must be well packed in an approved outer packaging. The customer bears the risk for the product during transport. Repurchases are approved by ANODOX (after receipt of returned product) as soon as the customer has fulfilled all the above obligations. Purchases that are approved are credited to the customer after deduction of any return costs. For buybacks that are not approved, the product is returned to the customer at the customer's expense.

ANODOX does not accept returns or order cancellations for special order products (including but not limited to configured products) unless the product has a material defect. Special order products that cannot be returned or canceled are marked as such in the product information and such information is also included in the order confirmation. Examples of special order products are Large Scale Energy Systems, PCS, Power converters, DC chargers etc.

  1. Transport damage

The customer must check the delivered products upon receipt. Transport damage must be reported to the carrier and to ANODOX, preferably via My Account - Order History. Transport damage must be reported on the day of arrival of the delivery, but hidden transport damage that was not detected or should have been detected at the time of delivery, must be reported as soon as possible and in any case within one week of receipt of the delivery.

Transport damage must be documented with photographs that clearly show damage to the contents, the condition of the packaging, any damage to the shock-absorbing inner packaging and the waybill. All packaging must be saved until the complaint case is closed.

If the customer does not report the transport damage in accordance with these General Terms and Conditions of Sale, the customer loses the right to make a valid claim for the transport damage

  1. Complaint

The customer must check the product/delivery upon receipt. In order to claim that a product/delivery is faulty, the customer must report the fault to ANODOX immediately after discovering the fault, but no later than 10 days from the invoice date and return the product in a specified manner.

In the event of a complaint, the customer must contact ANODOX, preferably via My Account/Order history on ANODOX's website and create a case. Please note that obtaining a case number or sending a return slip is not equivalent to an approved complaint. The case number is valid for 14 days, during which time the product must be in ANODOX's possession. When returning the product, the return shipping to ANODOX must be paid by the customer. Furthermore, the product must be accompanied by the order number, invoice and information about a valid case number, as well as a detailed description of the error. In the event of an incorrect complaint, ANODOX has the right to return the product to the customer and charge a shipping fee. Returns must be returned well packed in approved packaging (e.g. brown corrugated cardboard). The customer bears the risk for the product during transport. Any transport damage as a result of inadequate packaging will be charged to the customer. ANODOX reserves the right to product control the product and charge a test fee if the product is not faulty and the complaint is therefore not accepted.

  1. Warranty

Warranties on products are provided by the products' respective manufacturers. ANODOX provides no additional guarantees beyond the respective manufacturer's specified guarantee conditions.

  1. Liability

If there are defects for which ANODOX is responsible, ANODOX undertakes to, at its own discretion, remedy the defect by repair, redelivery or refund of the purchase price. ANODOX has the right to refer the customer directly to the respective manufacturer or to a service workshop designated by the manufacturer to rectify the fault. Additional rights for the customer may follow from the respective manufacturer's own guarantees aimed at the end customer.

ANODOX is not responsible for the compatibility of products with other products in ANODOX's range or with the customer's existing equipment, unless otherwise expressly stated by ANODOX or stated in product conditions provided by ANODOX.

ANODOX's liability in the event of a fault in the product is limited to what is stated above and the customer cannot make further claims against ANODOX due to faults. ANODOX is under no circumstances liable for indirect or consequential damages, such as loss of production or loss of profit, or other damages resulting from the impossibility or difficulty of using computers or information, or for loss of data.

The total liability that may arise for ANODOX towards the customer (including liability for actions or omissions of ANODOX's employees, representatives or subcontractors as well as liability related to price reduction, redelivery or the like) is limited to the total price paid by the customer for products and/or services during the last twelve (12) month period.

  1. Technical support

For technical support and user support, ANODOX has the right to refer the customer to the respective product manufacturer and, where applicable, to the paid support of third-party companies. Telephone numbers for the respective manufacturers/suppliers are listed on ANODOX's website under the tab customer service/contact/who do I contact. Please note that support may be in English for some manufacturers and that in some cases support is provided only via e-mail and websites.

  1. Special Terms for Software

All software available for download from the ANODOX website are copyrighted works of the respective manufacturers. When purchasing a right of use and/or license to software, the terms and conditions of the respective manufacturer or licensor apply. The terms may accompany or be part of the ordering process or be included in the software. Due to the above, ANODOX accepts no responsibility for the sale of software, including, but not limited to, warranty regarding suitability or intellectual property rights.

Special Provisions for Delivery of Service

  1. Scope and implementation

ANODOX shall perform the agreed service (the " Service ") in a professional manner and with persons qualified for the purpose.

ANODOX may engage a subcontractor for the execution of the Service. If ANODOX hires a subcontractor, ANODOX is responsible for both ANODOX's and the subcontractor's work.

The customer must give ANODOX access to all information and all documentation required for ANODOX to be able to perform and deliver the Service in accordance with the agreement. If the Service is to be performed on the customer's premises, ANODOX must have access to the premises to the extent required to be able to perform the Service.

  1. Compensation, etc

ANODOX is entitled to compensation according to ANODOX's price list valid at any time. If the Parties have agreed on a price other than the price list in effect at the time, ANODOX has the right to adjust the agreed prices once per calendar year in accordance with changes in the Labor Cost Index (AKI) code J (Information and communication company).

ANODOX's remuneration is stated excluding VAT and other possible additional taxes and fees attributable to the Service.

ANODOX is entitled to compensation for expenses according to what has been agreed between the parties.

ANODOX performs the Service during regular working hours according to the price list in force at any given time. ANODOX is entitled to compensation for work outside regular working hours according to the price list in force at any given time.

  1. Payment terms and security

Payment is made against invoice after an examination of the customer's creditworthiness. Payment can also be made through financing via one of ANODOX's financing partners.

The invoice must be paid so that the invoice amount is available in ANODOX's bank account no later than ten (10) days from the invoice date ("Due Date"). In the event of late payment, ANODOX has the right to charge late payment interest according to the Interest Act as well as a statutory reminder fee and collection fee, including collection costs.

ANODOX charges an invoicing fee per invoice if the customer requests a paper invoice. Errors in an invoice from ANODOX must be reported no later than the due date. If a complaint is not made in time, the error cannot be asserted against ANODOX.

If there is reasonable doubt regarding the customer's ability to pay, ANODOX has the right to shorten the credit period (Due Date), demand advance payment or demand other security for the performance of the Service

  1. Order and order confirmation

By ordering the Service, the customer accepts these General Terms and Conditions of Sale. By accepting the terms, the customer undertakes to comply with the terms in their entirety

A binding agreement comes into being upon ANODOX's order confirmation to the customer.

  1. Liability

If there is an error in the Service for which ANODOX is responsible, ANODOX undertakes, at its own discretion, to remedy the error through repair or redelivery, provided that a complaint has been made in accordance with what is stated in the Agreement. If ANODOX chooses not to remedy the error or to carry out a redelivery, the customer is entitled to a reasonable deduction from the compensation for the work performed.

ANODOX is not responsible for errors due to hardware, software or other equipment not provided by ANODOX. If the Service consists of advice, ANODOX's responsibility is limited to such advice based on the information provided by the customer. ANODOX takes no responsibility for the decisions the customer makes based on the advice provided.

The total liability that may arise for ANODOX towards the customer (including liability for actions or omissions of ANODOX's employees, representatives or subcontractors as well as liability related to price deductions, redelivery or the like) is limited to the total price paid by the customer for the Service in the last six ( 6) the monthly period.

ANODOX is under no circumstances liable for (i) indirect or consequential damages, such as loss of production, loss of profit or other similar indirect damages, or (ii) loss of data.

The limitations of liability under this point do not apply in the event of personal injury or if ANODOX or its representative has acted with intent or gross negligence.

The customer is responsible for informing ANODOX in writing of all changes that the customer himself or with the help of others makes in the customer's IT environment if the change may affect the Service or functions that ANODOX delivers. ANODOX is not responsible for errors that arise because such changes have not been notified to ANODOX as above.

  1. Complaint

The customer loses his right to make a compensation claim if the complaint has not been made in writing without delay, but no later than three (3) months after the specific Service was performed.

  1. Intellectual Property Rights

ANODOX retains the ownership rights to all intellectual property rights that are created specifically by ANODOX on behalf of the customer during the performance of the Service. Unless otherwise agreed in writing, the Customer receives a non-exclusive license, limited in time, to all intellectual property rights created by ANODOX on behalf of the Customer.

The customer does not receive any intellectual property rights related to the Service that belong to ANODOX or third parties beyond what is stated above. The customer is also not entitled to change any intellectual property rights belonging to ANODOX or third parties. For these intellectual property rights, the conditions applied by the holder of the relevant intellectual property at any given time apply instead.

The customer's right to use the results of the Service after termination presupposes that the customer has fulfilled his payment obligation and that the service is used under the conditions, specific usage framework and time for the service at the time of purchase.

  1. Infringement of Intellectual Property Rights

If the customer provides intellectual property rights under the Agreement, it is guaranteed that the customer holds the rights or obtains the approvals required for the performance of the Service according to the Agreement.

ANODOX guarantees that the Service performed by ANODOX and the intellectual property rights that ANODOX creates or provides under the agreement (with the exception of third-party services or products from ANODOX's suppliers), as far as ANODOX is aware, do not infringe the additional rights of third parties.

The customer must notify ANODOX in writing without delay regarding claims from third parties regarding infringement of intellectual property rights due to the customer's use of the Service.

In the event of a claim of infringement, for which ANODOX is liable (ie not an infringement due to modification by the customer or regarding third party products or similar infringement), ANODOX shall have the right to take over the dispute and bring proceedings on behalf of the customer and at its own expense either insure the customer continued use of the Service or replace the disputed part of the Service with a similar acceptable service or product. The customer does not have the right to admit responsibility, enter into an agreement, settlement or compromise with a third party regarding such a claim without first obtaining ANODOX's written consent, which shall not be unreasonably withheld or delayed. If ANODOX cannot ensure the customer's right to use a similarly acceptable service or product, each party has the right, as an exclusive penalty in relation to such alleged infringement, to cancel the Agreement with the other party regarding such service or product and ANODOX undertakes that in such case refund the price paid for such service and product, provided that the customer returns the product, less the benefit received by the customer.

ANODOX undertakes to reimburse the customer for the compensation and damages that the customer is ordered to pay through settlement or judgment for infringement, for which ANODOX is responsible, of intellectual property rights through the customer's use of the Service. In addition, the customer is not entitled to other compensation for loss that arises as a result of an intellectual property error in the Service and for which ANODOX is responsible.

  1. Contract term and termination

The agreement is valid from the time it is signed by the parties (including binding acceptance by e-mail from authorized company representatives). Unless otherwise agreed, the Agreement applies indefinitely with a mutual notice period of three months. Termination must be in writing.

Notwithstanding the above, either Party may terminate the Agreement in writing with immediate effect if the Party:

  1. in a material respect overrides or violates the provisions of the Agreement and correction, where such can take place, does not take place within 30 days of written notification thereof, or
  2. is placed in bankruptcy or liquidation, becomes subject to corporate restructuring or is otherwise insolvent.

General provisions

  1. Links to Third Party Websites

Links on ANODOX's website enable visitors to leave ANODOX's website. The linked web pages are not controlled by ANODOX and ANODOX therefore bears no responsibility whatsoever for the content of such web pages or the content of the links on such web pages. ANODOX only provides these links to facilitate the finding of web pages and the provision of a link does not imply endorsement by ANODOX of the web page in question.

  1. ANODOX website and intellectual property rights

The content on ANODOX's website is owned by ANODOX or its licensors. The information is protected by marketing and intellectual property laws, which means that trademarks, company names, product names, images and graphics, designs, layouts, etc. may not be copied or otherwise used without written approval from ANODOX. Printing or other copying of the material is permitted for personal, private, non-commercial use. It is prohibited to copy, save or otherwise reproduce, process, change, transfer, assign, otherwise exploit or exploit the material or parts thereof without the prior written permission of ANODOX.

  1. Customer Accounts

Login details (username and password) to customer accounts on ANODOX's website must be handled so that they do not come to the knowledge of unauthorized persons. By giving their login details to someone else, the customer thereby confirms that that person has the right to place orders in the customer's name and that the customer is liable for payment for such orders in relation to ANODOX. For customer accounts that belong to legal entities, all persons who have access to the login details for the customer account are considered to be authorized to place orders on behalf of the customer. If the customer suspects that an unauthorized person has access to their login details, it is the customer's responsibility to immediately notify ANODOX of this and change their password.

Complete terms and conditions for accounts on ANODOX's website can be found in

  1. Personal data

When ANODOX is responsible for personal data

ANODOX will, in connection with the customer's orders for products and services, process personal data about the customer's contact persons ("company representatives") for the purposes and under the conditions set out in ANODOX's privacy policy . By creating a business account with ANODOX, the customer confirms that the customer has informed relevant company representatives about ANODOX's processing of their personal data and obtained their consent to the processing.

When ANODOX acts as personal data assistant for the customer

In cases where ANODOX acts as a personal data processor for the customer, the parties will enter into a separate personal data processor agreement regarding the processing of personal data that ANODOX does on behalf of the customer.

  1. Applicable Law and Dispute

Swedish law shall be applied to the Agreement, with the exception of choice of law rules and the CISG. Disputes arising from these General Terms and Conditions of Sale shall be finally settled by arbitration administered by the Arbitration Institute of the Stockholm Chamber of Commerce ("SCC"). The seat of the arbitration shall be Stockholm. Rules for Simplified Arbitration shall be applied unless the SCC, taking into account the degree of difficulty of the case, the value of the object of dispute and other circumstances, decides that Arbitration Rules shall be applied. In the latter case, the SCC shall also decide whether the arbitration board shall consist of one or three arbitrators. The seat of the arbitration shall be Stockholm. In addition, ANODOX shall always have the right to apply for a payment order or bring an action regarding non-payment at the general court with the Stockholm District Court as the first instance.

  1. Disclaimer

ANODOX shall not be liable for failure or delay in the performance of ANODOX's obligations under the agreement to the extent that performance is made impossible or substantially more difficult or expensive due to circumstances beyond ANODOX's reasonable control, including but not limited to, war-like events, riots and disturbances, interruptions in public communications, cyber attacks, export and import restrictions, changes in legal regulation or the interpretation thereof, other governmental order, strike, lockout, blockade or other labor disputes, fire, explosion or other casualty, epidemics, pandemics, natural phenomena or for errors or delays in deliveries from the subcontractor due to the above-mentioned circumstances.

For the avoidance of misunderstanding, the disclaimer covers the covid-19 pandemic, other epidemic or pandemic, or any of their subsequent consequences that affect the ability of ANODOX's suppliers or subcontractors to deliver or to deliver at the agreed price or within the agreed time.

  1. Miscellaneous

ANODOX reserves the right to change all information, including but not limited to, prices, technical specifications and product offers without prior notice.

Information and prices are provided subject to typographical and typographical errors, inaccuracies in stated technical specifications, suppliers' price increases and for final sales.

The information provided on ANODOX's website does not constitute any statement of usability, suitability or guarantee other than where this is directly stated in writing to the customer. Current offers are valid while stocks last, unless otherwise stated.

The customer certifies in particular by accepting these General Terms and Conditions of Sale that the products and services are only to be used in professional contexts, such as for example in own business activities, in teaching activities or in public activities

The customer does not have the right to assign the Agreement or rights and obligations attributable to the Agreement without ANODOX's written consent. ANODOX has the right to transfer the Agreement to a third party without the customer's consent in connection with the sale or transfer of ANODOX's operations or part thereof or to its subsidiaries, through merger or fission.

ANODOX reserves the right to change these General Terms and Conditions of Sale at any time.



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