Arctic Paper subsidiaries, Arctic Paper Grycksbo AB and Arctic Paper Munkedal AB, have terminated their agreements with S.E.R. Sverige AB regarding the installation and grid connection of battery energy storage systems, the company announced. Arctic Paper now plans to continue the project with a new partner.

Initially, the companies signed 15-year agreements with S.E.R. Sverige in May to install 24 MW battery energy storage facilities at the Grycksbo and Munkedal paper mills. These facilities were intended to provide system services to Svenska kraftnät, Sweden's power system operator, with an expected contribution to Arctic Paper's annual consolidated EBITDA of SEK 10-30 million within the first two years of operation starting in 2025.

Arctic Paper, a leading European producer of volume and high-quality graphic paper, has been listed on the Warsaw Stock Exchange since 2009 and is part of the mWIG40 index. In 2023, the group reported consolidated sales revenues of PLN 3.55 billion.