simon stenvall

[simon stenvall @attackhuND]

$SMOL #Smoltek

A lot of investors seem to view the rights issue as purely negative.

I think the situation deserves a more balanced discussion.

Yes, dilution is never ideal.

But the rights issue also provides something equally important: time.

Based on the company's stated plans and current cost structure, the capital raise significantly extends Smoltek's runway and could provide roughly 18 months of operational funding at current burn rates.

That matters.

Industrial partnerships are rarely signed on the timeline retail investors want. Large industrial players want to see stability, execution capability and a partner that will still be around to deliver.

A stronger balance sheet can improve negotiating position rather than weaken it.

Another point worth considering:

Just weeks ago the market was willing to value Smoltek around SEK 6 per share.

After adjusting for the dilution from the rights issue, a simple theoretical calculation still implies a value around SEK 3.8 per share before considering market sentiment, future news flow, execution risk or additional value creation.

Meanwhile, the company continues to:

• Industrialize with ITRI in Taiwan
• Advance the Gen-One capacitor platform
• Expand manufacturing capabilities
• Work with Heraeus in hydrogen applications
• Pursue a licensing and royalty-based business model

The technology still has to be commercialized.

Commercial agreements still need to be signed.

Nothing is guaranteed.

But there is a meaningful difference between raising capital to continue industrialization and raising capital simply to stay alive.

[simon stenvall @attackhuND]

$SMOL #Smoltek

When looking at Smoltek, I think many investors focus only on Gen-One.

But the real story may be the roadmap.

Gen-One:

- 745 nF/mm²
- 50 mΩ ESR
- Reliability testing completed
- Industrialization ongoing
- Appears closest to commercialization

Gen-Two:

- 1,704 nF/mm²
- 20 mΩ ESR

Gen-Three:

- 3,097 nF/mm²
- 10 mΩ ESR

If achieved, that's an extraordinary performance roadmap for AI power delivery and advanced packaging.

At the same time, AI infrastructure is increasingly facing power delivery bottlenecks. Smoltek's CNF-MIM technology was designed specifically to address high capacitance density, low losses and placement close to processors. These are exactly the challenges discussed throughout the AI semiconductor ecosystem today.

And then there is the hydrogen side.

Smoltek and Heraeus are collaborating on ultra-low iridium PEM electrolyzer technology. Smoltek has previously communicated iridium reductions of up to 95%, while maintaining performance.

BEAR CASE:

- No commercial agreements
- More delays
- Additional financing required

BASE CASE:

- Gen-One reaches first commercial/industrial agreements
- Engineering and licensing revenue begins
- Heraeus collaboration progresses into the next development stage

BULL CASE:

- Yageo/Taiwan ecosystem commercializes Gen-One
- Upfront payments and royalty model validated
- Heraeus confirms strong hydrogen results
- Gen-Two roadmap starts getting serious industry attention

For me, the next 1–3 months are less about whether the technology works and more about whether commercial validation arrives.

#AI #Semiconductors #AdvancedPackaging #Hydrogen #PEM #Nanotechnology #DeepTech #Yageo #Heraeus #Smoltek

[simon stenvall @attackhuND]

@Craaazy1231 Hell yes!

[simon stenvall @attackhuND]

@kulturdesken 2026 is Smolteks breakthrough year. It's gonna be extremely intresting to follow!

[simon stenvall @attackhuND]

@BottleneckFindr And the bridge loans were made to give them a runway to land their deals that are currently in negotiations. How is that bearish? 🙂

[simon stenvall @attackhuND]

@BlueTech1972 Det sägs i en video, antingen q1 rapport eller någon av redeye videosarna. 🙂

[simon stenvall @attackhuND]

$SMOL #Smoltek

One thing I keep coming back to:

Why would Smoltek invest in scaling production capabilities, including new industrial equipment and 8-inch wafer processing, if they believed commercialization was still years away?

And another question:

Why would management, board members and major shareholders participate in bridge financing and support the company through this phase if they saw no realistic path to near-term agreements?

Of course, nothing is guaranteed.

But actions often speak louder than words.

Over the last few years Smoltek has:

- Continued investing in industrialization
- Expanded production capabilities
- Completed 2000h reliability testing
- Deepened industry dialogues
- Strengthened its Taiwan ecosystem presence
- Advanced its collaboration with Heraeus
- Presented a clear licensing and royalty business model

Meanwhile management has stated:

“New agreements are within reach.”

What makes this case increasingly interesting to me:

• 20+ years of R&D
• Extensive patent portfolio
• Industrial production roadmap
• 8-inch wafer scaling
• ITRI/Taiwan collaboration
• Presence at Yageo AI Summit
• Heraeus hydrogen partnership
• AI power delivery becoming a growing bottleneck

Bear case:
No agreements, more delays, additional financing.

Base case:
Commercial agreements, engineering revenue, upfront payments and continued industrial validation.

Bull case:
The investments, bridge financing and industrial scaling efforts we see today are preparations for licensing, royalties and commercial adoption.

The market still wants proof.

But personally, this no longer looks like a company preparing for more research.

It looks like a company preparing for business.

#AI #Semiconductors #AdvancedPackaging #DeepTech #Nanotechnology #Hydrogen #Yageo #Heraeus #Smoltek

[simon stenvall @attackhuND]

@BlueTech1972 No, recently.

[simon stenvall @attackhuND]

@BlueTech1972 They bought a machine that is ready to go to ITRI once contract is signed. No lie. And no, they won't produce their own supply, never said that. 😉

[simon stenvall @attackhuND]

@__Con_ Smoltek $SMOL, expected to land big deal/deals. Gonna skyrocket in 2026/2027 👊

[simon stenvall @attackhuND]

@Gubloinvestor $SMOL, But more than double 😎

[simon stenvall @attackhuND]

$SMOL #Smoltek

Interesting article highlighting a growing concern in the AI industry:

As AI servers become more powerful, capacitors are increasingly being viewed as a potential bottleneck for future performance and power delivery.

https://t.co/Kdd7QDIt1i

This is exactly why I find Smoltek's Gen 2 roadmap so interesting.

The industry is demanding:

- Higher capacitance density
- Smaller footprints
- Better power integrity
- Components closer to the processor
- Solutions compatible with advanced packaging

Smoltek's CNF-MIM technology is being developed to address these exact challenges.

If Gen 2 delivers on its targets, it could potentially offer:
• Significantly higher capacitance density
• Smaller area requirements
• Improved power delivery close to AI processors
• A solution tailored for next-generation AI infrastructure

The market is still waiting for commercial validation.

But what's becoming increasingly clear is that the problem Smoltek is trying to solve is very real.

AI is creating unprecedented demands on power delivery architecture.

And the need for better capacitor technology is becoming harder to ignore.

#AI #Semiconductors #AdvancedPackaging #PowerDelivery #Datacenter #DeepTech #Nanotechnology #Yageo #Smoltek #AIInfrastructure

[simon stenvall @attackhuND]

@RJAGVR This company has it's biggest milestone in 1-2 years from now, however this year they have a lot aswell. But if you long this company for at least 4-5 years, i am pretty sure u'r investment is at least 6-8x, prob 15-30x. But i could be wrong. Lets see in the future 😊

[simon stenvall @attackhuND]

@hazaloooom @Million_Sancet @SavaSavvich Don't panic. Sit and wait, the journey has only begun.

[simon stenvall @attackhuND]

@goesrandom Oh that's not fair. Hope you find a way mate.

[simon stenvall @attackhuND]

$SMOL #Smoltek

People keep pointing at Smoltek’s history of dilution and saying:
“too many shares.”

And honestly?
That’s a completely fair concern.

This is a high-risk deeptech company that has spent years financing:

- R&D
- patents
- industrial validation
- cleanroom development
- semiconductor scaling
- and hydrogen technology

through the capital markets.

BUT…

I think many are missing what Smoltek is actually trying to become.

This is not a company trying to build trillion-dollar fabs themselves.

Their model is:

- licensing
- royalties
- engineering/services
- industrial partnerships
- fabless commercialization

That changes the entire scaling logic.

If no agreements come:

- more dilution risk exists
- market sentiment can reverse hard
- and the stock could collapse again

That’s reality.

But if:

- Yageo/Taiwan commercialization advances
AND/OR
- Heraeus hydrogen collaboration evolves toward industrial deployment

then the discussion changes completely.

Because then Smoltek potentially moves from:
“research company burning cash”

to:
“IP/platform company generating industrial royalties.”

That is why this case has become so explosive lately.

The risk is obvious.

But the upside, if commercialization actually works, is also very obvious.

#AI #Semiconductors #Hydrogen #DeepTech #Nanotechnology #Yageo #Heraeus #AdvancedPackaging

[simon stenvall @attackhuND]

@Blue_1Trades @Ren_aramb Jesus read some fucking facts or miss the train. It's leaving soon. Have fun.

[simon stenvall @attackhuND]

@RayJohn886 @Ren_aramb They can essentially grow their fibres on anumy substract. Glass and so on, even directly on the components itself.

[simon stenvall @attackhuND]

@Blue_1Trades @Ren_aramb Do some rrsearch on the company and you will find out. Holy fuck.

[Ren @ren_stocks]

I’m long $SMOL -- this is the one of the most asymmetrical set ups I’ve seen in a while. I’ve been trying to buy it for the past month and it run up 300% without me.

Swedish pre-revenue 18 employees. Pre-revenue. ~$400 MCap. nano company.

Here's an idea of this crazy company.

Chips can't get faster without better power delivery, and traditional capacitors are physically too thick to keep up.

Smoltek grows carbon nanofibers directly on silicon to make capacitors thinner than a human hair.

The tech that Qualcomm, Apple, and Intel desperately need for next-gen AI chips. But they can't mass produce these on their own.

98 patents protecting the integration of ultra-thin, high-density CNF-MIM capacitors in advanced semiconductor packaging. These go directly on interposers, reducing inductance and bringing them closer to processors and power rails.

Possible partners:

Yageo 32B MC from Taiwan 🇹🇼 is the world's #2 passive component maker.
They walked away from a deal in 2024 citing budget reasons. But they never walked away from the technology. They are still testing Smoltek's components in their own labs. The CEO just presented at a Yageo-organized AI Summit in Taipei alongside multiple industry heavyweights. NDAs signed with several big players. You don't get invited to that stage if the product is dead.

Insiders just loaded up on expensive bridge debt due end of 2026. Who in their right mind does that unless something is coming. Right?

Then there is the iridium angle:

The same nanofiber platform powers Smoltek Hydrogen. Green hydrogen via PEM electrolysis hits a hard ceiling because of iridium -- only 7-9 tonnes mined globally per year. You can't mine more. Smoltek's carbon nanofibers create a massive 3D surface area on the electrode, cutting iridium loading by 95% at the same performance. Their electrode could cost one-sixth of competing products at scale.

Serious partners already in place: AGC Japan for manufacturing scale-up, Heraeus Precious Metals for pushing iridium loading even lower. Electrolyzer factories are being built across Europe and the US right now.

Smoltek wants to be designed into the next generation in two megatrends none the less.

The semiconductor capacitor story alone gets you to a 1-1.5 billion SEK market cap on a license deal -- that's 5.5-8 SEK per share from here. The hydrogen arm is essentially free on top of that.

This is a binary event a 0 or x100 no in between. So treat with extreme caution.

Pre-revenue. Binary. Spotlight-listed. Long patience required.

This is really out there. Out of all my positions this one is furthest from commercialization.

So I added a small position.Size accordingly. NFA.

You can find it on IBKR as GY9 on the German exchange.

I’m long $SMOL 🇸🇪