Company information
Legal entity
Equus Energy Systems ApS
Bygmestervej 57, DK-2400 Copenhagen
CVR 46626796
Danish VAT No: DK46626796
Contact
Website Terms of Use
By accessing or using this website (the “Site”), you acknowledge that you have read, understood and agree to be bound by these Website Terms of Use (these “Terms”). If you do not agree to these Terms, you must not use the Site. References in these Terms to “Equus Energy Systems ApS”, “we”, “us” and “our” mean Equus Energy Systems ApS, Danish Business Registration No. 46626796.
1. Changes to the Site and these Terms
We may change, suspend or discontinue any product, service, function or content on the Site at any time, without notice and without liability to you. We may update these Terms from time to time. We recommend you to check these Terms periodically for changes. Your continued use of the Site following the posting of any changes constitutes your acceptance of those changes.
2. Intellectual Property
The copyright, trademarks, database rights, design rights, know-how, rights in inventions (whether registered or unregistered), patents and all other intellectual property rights in the material contained on the Site belong to Equus Energy Systems ApS or its licensors. This includes the Site’s general structure, software, text, images, video, sound, and all other information and content on the Site.
You may not, and may not assist or facilitate any third party to, copy, reproduce, transmit, distribute, frame, modify, distort, commercially exploit or create derivative works from any such material, in whole or in part, by any process or on any medium, except as expressly authorised in writing by Equus Energy Systems ApS or as permitted by applicable law. If you become aware of any unauthorised use, distribution or commercial exploitation of Site content, please notify us promptly using the contact details below.
The names, logos and trademarks appearing on the Site are used to identify Equus Energy Systems ApS and are the trademarks of Equus Energy Systems ApS. Nothing on the Site grants any licence or right to use any such name, logo or trademark.
Databases made available on the Site are protected under Danish and EU legislation on the legal protection of databases. Equus Energy Systems ApS prohibits any unauthorised re-use, reproduction or extraction of material from such databases; unauthorised re-use, reproduction or extraction may render the user liable under applicable law.
Equus Energy Systems ApS reserves the right, without prior notice, to remove any content on the Site — including any message, text, image or graphic — that infringes these Terms or applicable law. If you wish to use any content from the Site (text, images or otherwise) beyond what is permitted under these Terms, you must first obtain express written consent from Equus Energy Systems ApS. Requests should be sent using the contact details below.
3. Linking to the Site
You may link to the Site provided that the link is used solely for cross-reference purposes, does not suggest any endorsement or affiliation by Equus Energy Systems ApS that does not exist, and does not present or “frame” the Site or any part of it within another website. Equus Energy Systems ApS reserves the right to withdraw its permission for any link to the Site at any time and without notice.
4. No Offer or Advice
The content of the Site is provided for general, informational purposes only. It does not constitute, and must not be relied upon as, an offer or solicitation to buy or sell any securities, or a recommendation to pursue any particular investment, product or strategy. Any offer or solicitation will be made only through the relevant final offering or contractual documentation, subject to its terms and conditions, including as to investor eligibility. Nothing on the Site constitutes investment, accounting, tax or legal advice; you should seek independent professional advice appropriate to your own circumstances.
5. No Warranties; Accuracy of Information
Equus Energy Systems ApS uses reasonable efforts to ensure that information on the Site is accurate and up to date, but makes no representation or warranty, express or implied, that any information on the Site (including any content accessible via hyperlinks) is accurate, complete or current. The Site and its content are provided on an “as is” basis, without warranties of any kind, including as to availability or freedom from viruses or other harmful components. Equus Energy Systems ApS may change the information on the Site at any time without notice and is under no obligation to update it. Your use of, and any reliance on, the Site and its content is at your own risk.
6. Limitation of Liability
Save as set out below, Equus Energy Systems ApS shall not be liable for any loss or damage of any kind (whether direct, indirect, incidental or consequential) arising out of or in connection with your access to or use of, or inability to access or use, the Site, including any loss or damage caused by any error, omission, interruption, defect, delay in operation, computer virus or other malfunction, regardless of the legal basis of the claim (whether in contract, tort, negligence, strict liability or otherwise). Nothing in these Terms excludes or limits Equus Energy Systems ApS’ liability where Equus Energy Systems ApS, or its employees or management, has caused loss or damage through gross negligence or wilful default, or where liability cannot otherwise be excluded or limited as a matter of Danish law.
7. Links to Third-Party Websites
The Site may contain links to websites operated by third parties. Equus Energy Systems ApS does not control, endorse or accept any responsibility for the content, products, services or privacy and security practices of any linked third-party website, and inclusion of a link does not imply endorsement by Equus Energy Systems ApS of that site or its content. Access to any linked website is at your own risk, and Equus Energy Systems ApS is not responsible for any loss or damage arising from your use of it.
8. International Use
The Site may be accessed from countries other than Denmark. Equus Energy Systems ApS makes no representation that the Site or its content is appropriate, available or lawful in every location. If you access the Site from outside Denmark, you do so on your own initiative and are responsible for compliance with local laws applicable to you.
9. Unsolicited Submissions
The Site is provided for general informational purposes and does not create any business or professional-services relationship between you and Equus Energy Systems ApS. Except where you have a pre-existing, documented confidential relationship with Equus Energy Systems ApS, any ideas, suggestions or other materials you submit to Equus Energy Systems ApS through the Site will not be treated as confidential, and Equus Energy Systems ApS may use, disclose or develop such submissions freely, without compensation or attribution to you. Please do not send us any submission you wish to keep confidential.
10. Governing Law and Jurisdiction
These Terms, and any dispute or claim arising out of or in connection with them or the Site (including non-contractual disputes or claims), shall be governed by and construed in accordance with Danish law, without regard to its conflict-of-laws principles. Any such dispute shall be subject to the exclusive jurisdiction of the courts of the Kingdom of Denmark.
11. Contact
If you have any questions about the Site or these Terms, or wish to request permission to use Site content, please contact us. Please note that e-mail and other electronic communications sent through the Site are not secure, and Equus Energy Systems ApS does not guarantee the confidentiality of such communications.
Equus Energy Systems ApS, Danish Business Registration No. 46626796.
Bygmestervej 57, DK-2400 Copenhagen
contact@equusenergysystems.com
Investment & Forward-Looking Information Disclaimer
Investment Disclaimer
Any investment opportunities referred to on this website, including in Equus’ BESS projects and through its RTB partner model, are provided for information purposes only and do not constitute an offer, invitation or solicitation to acquire securities, project interests or other investment interests.
Any investment opportunity will be subject to applicable laws and regulations and may only be offered to eligible investors in jurisdictions where such offering is permitted and any required regulatory approvals, registrations or exemptions have been obtained.
Investment opportunities may be intended solely for professional, qualified or institutional investors, as specified in the relevant investment documentation.
No investment opportunity is intended for persons in the United States or any other jurisdiction where such offering would be prohibited or require registration, unless expressly permitted under applicable law.
Nothing on this website constitutes investment, financial, legal or tax advice. Prospective investors should obtain their own professional advice and rely solely on the applicable investment documentation when making an investment decision. See also section 4 of our Website Terms of Use.
Forward-Looking Information and Statements
This website may contain forward-looking information and statements relating to Equus Energy Systems ApS (“Equus”), its battery energy storage system (BESS) projects and pipeline, its RTB partner model, the markets in which it operates and its future activities. Forward-looking statements include, among other things, target returns (including target IRR), pipeline capacity, expected asset lifetime, expected revenue from grid services, energy trading and capacity markets, and expected development, construction and commissioning timelines. Words such as “target”, “expect”, “aim”, “plan”, “forecast”, “estimate” and similar expressions are intended to identify such statements. Such statements are based on current expectations, estimates, projections and assumptions and are subject to risks, uncertainties and other factors, many of which are beyond Equus’ control.
Actual results or developments may differ materially from those expressed or implied, including due to changes in energy markets and electricity prices; changes in the demand for, prices of and rules governing frequency reserves (such as FCR, aFRR and mFRR) and other grid services; grid conditions, grid connection and availability; regulatory, prequalification and permitting requirements; revenue and market assumptions; battery performance and degradation; technology, supply chain and project development; financing; competition; and general economic conditions.
Target figures, including target IRR, are targets only and are not forecasts or guarantees of future performance. Past performance is not a reliable indicator of future results.
No representation is made that any forward-looking statement will prove to be accurate, and Equus undertakes no obligation to update or revise such statements, except as required by applicable law.
Privacy notice
Part A: Privacy notice for Equus Energy Systems
1. Who is the data controller?
Equus Energy Systems ApS, Copenhagen, Denmark, is the data controller for the personal data described in this notice.
Questions about this notice or your data: contact@equusenergysystems.com.
2. Whose data do we process?
We process personal data about:
- contact persons at customers, including owners of battery energy storage systems (BESS) to whom we provide trading, optimisation and revenue management services
- contact persons at suppliers, subcontractors and partners
- landowners with whom we enter into or negotiate agreements on project sites
- investors, lenders and their contact persons
- people who contact us, attend our events or receive our news
- consultants and freelancers who carry out work for us
Processing of data about our own employees is described in a separate employee privacy notice.
3. What data, why, and on what legal basis?
| Purpose | Typical data | Legal basis |
|---|---|---|
| Entering into and performing agreements with customers, suppliers and partners | Name, title, employer, work email, phone, correspondence | Article 6(1)(b) (contract) where you are a party yourself; otherwise Article 6(1)(f) (legitimate interest in working with your company) |
| Project development and agreements with landowners | Name, address, cadastral number, contact details, bank details, ownership information | Article 6(1)(b) and (f) |
| Operation, monitoring and settlement of battery systems | Asset data, metering data, invoice and payment details, contact person for operational disruptions | Article 6(1)(b) and (f) |
| Bookkeeping, tax and accounting | Invoice and payment details | Article 6(1)(c) (Danish Bookkeeping Act) |
| Know-your-customer checks and sanctions screening | Name, date of birth, nationality, identification, information on beneficial owners | Article 6(1)(c) and (f); Danish CPR numbers only where the law permits, cf. section 11 of the Danish Data Protection Act |
| Compliance with requirements from grid operators, Energinet and authorities | Contact persons, asset and trading data | Article 6(1)(c) |
| Newsletters and marketing | Name, email, employer | Consent, Article 6(1)(a), and section 10 of the Danish Marketing Practices Act; or Article 6(1)(f) for business contacts |
We do not as a rule process special categories of data (Article 9) or data on criminal offences about customers and partners.
4. Where do we get the data from?
We get the data from you and from public sources such as the Danish Central Business Register (CVR), the Danish land register and Danmarks Arealinformation. Metering data comes from assets and metering equipment that we install or are given access to.
5. Who do we share the data with?
- data processors that provide IT, hosting, CRM, accounting and email services to us, under data processing agreements
- grid operators, Energinet, balance responsible parties and power exchanges, where this is necessary to operate the assets and trade energy
- auditors, lawyers, banks, insurers and investors in connection with financing or due diligence
- public authorities, where we are required to do so
- a buyer or new owner, if Equus or part of the business is transferred
6. Transfers outside the EU/EEA
Some of our IT providers, including Microsoft, which hosts our website and provides our email and Microsoft 365 services, may process personal data outside the EU/EEA, in particular in the USA. Where personal data is transferred to a country outside the EU/EEA, we make sure the transfer has a legal basis under Chapter V of the GDPR: either the provider is certified under the EU-U.S. Data Privacy Framework, which the European Commission has found to ensure an adequate level of protection (Article 45), or the transfer is covered by the European Commission’s Standard Contractual Clauses in our data processing agreement (Article 46). Microsoft Corporation is certified under the EU-U.S. Data Privacy Framework, and its Data Protection Addendum also includes the Standard Contractual Clauses.
You can get more information about the safeguards by writing to contact@equusenergysystems.com.
7. How long do we keep the data?
| Data | Retention period |
|---|---|
| Agreement and customer data | Term of the agreement + 3 years (limitation period) |
| Landowner agreements and project documentation | Term of the agreement + 10 years, where necessary to document rights over the site |
| Bookkeeping records | 5 years from the end of the financial year |
| Know-your-customer and screening data | 5 years after the business relationship ends |
| Newsletter | Until you unsubscribe |
| Enquiries that do not lead to further cooperation | 12 months |
8. Your rights
You have the right to:
- get access to the personal data we hold about you
- have incorrect data corrected
- have data erased when we no longer have grounds to process it
- have our processing restricted
- receive data you have given us in a structured format (data portability)
- object to processing based on our legitimate interests, and always to direct marketing
- withdraw your consent, without affecting the lawfulness of processing before the withdrawal
To use your rights, write to contact@equusenergysystems.com. We reply within one month.
9. Complaints
You can complain to the Danish Data Protection Agency (Datatilsynet), Carl Jacobsens Vej 35, 2500 Valby, Denmark, dt@datatilsynet.dk, www.datatilsynet.dk. We would appreciate the chance to resolve the matter with you first.
10. Changes to this notice
We update this notice when our processing changes. The date at the top shows the latest version.
Part B: Privacy notice for equusenergysystems.com and job applications
1. Who is the data controller?
Equus Energy Systems ApS, Copenhagen, Denmark, is the data controller for the personal data we collect through equusenergysystems.com and through emails to contact@equusenergysystems.com.
Questions about this notice or your data: contact@equusenergysystems.com.
2. When you visit the website
When you visit the website, our hosting provider records technical information such as IP address, browser type and time of the visit. We use it to deliver the website securely and reliably. The legal basis is our legitimate interest, Article 6(1)(f). Logs are deleted after 30 days.
The website is hosted on Microsoft Azure Static Web Apps. The pages are delivered from Microsoft’s global network, and the website’s server functions, which receive the contact form and records of cookie choices, run in Microsoft’s East US 2 region in the USA. Microsoft acts as our data processor. See section 5 on transfers outside the EU/EEA.
Records of your cookie choices. If the website offers optional cookies and you make a choice, we keep a record of it: a random consent ID, your choices, the time of your choice, the version of the cookie notice and the page on which you made the choice. We do not store your IP address or browser details with the record. We keep the record to be able to document that consent was given or refused. The legal basis is Article 6(1)(c), cf. Article 7(1). At present the website does not use optional cookies, so no such records are made.
See our Cookie notice for which cookies are used and how to change your choice.
3. When you contact us
If you email us or use the contact form, we process your name, your contact details and the content of your enquiry so that we can answer you. The legal basis is Article 6(1)(f). If the enquiry does not lead to further cooperation, we delete it after 12 months. If it does, Part A applies.
Messages sent through the contact form pass through the website’s server functions and Microsoft Power Automate and are stored in our Microsoft 365 environment (Outlook and, where used, SharePoint). Microsoft acts as our data processor.
4. When you apply for a job with us
You can apply for a job at Equus by sending your application to contact@equusenergysystems.com. This applies to both advertised positions and unsolicited applications.
What data. We process the data you send us: typically your name, contact details, application, CV, diplomas, references and possibly a photo. We also process notes from interviews.
Please do not send sensitive data. Please do not send us your Danish CPR number or data about your health, religion, trade union membership, ethnic origin or similar, unless it is relevant to the position. If we receive such data unsolicited, we delete it or disregard it.
Purposes and legal basis.
- Assessing your application and carrying out the recruitment: Article 6(1)(b) (steps prior to a possible employment contract) and Article 6(1)(f)
- Obtaining references: only with your prior consent and only from the people you name, Article 6(1)(a)
- Searching publicly available information, such as LinkedIn, to the extent it is relevant to the position: Article 6(1)(f)
Who sees your application. Only the employees involved in the recruitment. Our email and IT provider processes the data as our data processor. We do not share your application with anyone else without your consent.
How long we keep your application.
| Situation | Retention |
|---|---|
| You are not offered the position | Deleted 6 months after the position has been filled, so that we can document the process in case of a complaint under the Danish Equal Treatment Act |
| Unsolicited application | Deleted 6 months after we receive it |
| You consent to us keeping your application for future positions | Kept for up to 12 months from your consent; you can withdraw your consent at any time |
| You are hired | Your application becomes part of your personnel file, and our employee privacy notice applies |
Automated decisions. We make no decisions about applicants based solely on automated processing, including profiling.
5. Transfers outside the EU/EEA
Because the website’s server functions run in Microsoft’s East US 2 region, the data you send through the contact form and records of your cookie choices are transferred to the USA when they are processed. Microsoft Corporation is certified under the EU-U.S. Data Privacy Framework, which the European Commission has found to ensure an adequate level of protection (Article 45 GDPR). The transfer is also covered by the European Commission’s Standard Contractual Clauses in Microsoft’s Data Protection Addendum (Article 46 GDPR).
Job applications and other emails are handled in Microsoft 365. Any transfers outside the EU/EEA in that connection follow Part A, section 6.
6. Your rights and complaints
You have the right to access, rectification, erasure, restriction, data portability and to object to processing based on our legitimate interests. If you have given consent, you can withdraw it by writing to contact@equusenergysystems.com. The withdrawal does not affect processing before that time.
You can complain to the Danish Data Protection Agency (Datatilsynet), Carl Jacobsens Vej 35, 2500 Valby, Denmark, dt@datatilsynet.dk, www.datatilsynet.dk.
7. Changes to this notice
We update this notice when our processing changes. The current version is always available at equusenergysystems.com.
Supplier Code of Conduct
1. Purpose, Scope and Commitment
Equus expects all suppliers to conduct business responsibly, lawfully and ethically. This Code sets out our minimum requirements and is based on the UN Guiding Principles on Business and Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, the OECD Guidelines for Multinational Enterprises and the UN Global Compact.
The Code applies to all suppliers, contractors and service providers of Equus ("Suppliers"). Suppliers shall ensure that their own suppliers and subcontractors meet equivalent standards.
2. Legal compliance and business ethics
- Compliance with laws: Comply with all applicable laws and regulations in the countries where they operate.
- Anti-corruption: Do not offer, give, request or accept bribes, kickbacks or facilitation payments, directly or through third parties.
- Gifts and hospitality: Offer gifts or hospitality to Equus employees only if modest, infrequent and not intended to influence a business decision.
- Conflicts of interest: Disclose to Equus any conflict of interest that may affect the business relationship.
- Fair competition: Comply with competition law; do not engage in price fixing, bid rigging or market sharing.
- Sanctions and trade controls: Comply with applicable sanctions, export control and customs rules.
- Accurate records: Keep accurate books and records; do not engage in fraud or money laundering.
3. Human and labour rights
- Human rights: Respect internationally recognised human rights and avoid causing or contributing to adverse impacts.
- No forced labour: Do not use forced, bonded, prison or trafficked labour. Workers must not pay recruitment fees or surrender identity documents.
- No child labour: Do not employ anyone below the legal minimum working age, and in no case below 15. Workers under 18 must not perform hazardous work.
- Non-discrimination: Do not discriminate on grounds such as gender, race, ethnicity, religion, age, disability, sexual orientation or political opinion. Do not tolerate harassment or abuse.
- Freedom of association: Respect workers' right to join trade unions and bargain collectively.
- Wages and working hours: Pay at least the legal minimum wage and provide legally required benefits. Working hours and overtime must comply with applicable law and be voluntary.
- Employment terms: Provide workers with clear written terms of employment.
4. Health, safety and environment
- Health and safety: Provide a safe and healthy workplace, assess and control risks, and give workers appropriate training and protective equipment.
- Environment: Comply with environmental laws and permits, and work to reduce energy use, greenhouse gas emissions, waste, water use and pollution.
- Hazardous substances: Handle, store and dispose of hazardous materials safely and lawfully.
5. Confidentiality, data protection and follow-up
- Confidentiality and data protection: Protect Equus' confidential information and process personal data in accordance with applicable law, including the GDPR.
- Monitoring: Upon request, Suppliers shall provide information on their compliance with this Code and allow reasonable audits by Equus or a third party.
- Reporting concerns: Suppliers and their employees can report suspected breaches of this Code to Equus in confidence and without fear of retaliation.
- Breaches: Suppliers shall correct any breach without undue delay. Serious or repeated breaches may lead to termination of the business relationship.
Anti-Corruption Policy
1. Purpose, Scope and Commitment
Equus has zero tolerance for bribery and corruption in any form. We comply with all applicable anti-corruption laws, including the Danish Criminal Code, the UK Bribery Act and the US Foreign Corrupt Practices Act where relevant.
This policy applies to Equus founders and all employees, and to agents, consultants, suppliers and other business partners acting on our behalf.
2. Rules
- Bribery: Never offer, promise, give, request or accept anything of value to improperly influence a business decision or the performance of a duty. This applies to public officials and private persons alike.
- Facilitation payments: Small payments to speed up routine official actions are prohibited, except where personal safety is at immediate risk. Any such payment must be reported to the founders at once.
- Gifts and hospitality: Gifts and hospitality may be given or received only if they are modest, infrequent, transparent and not linked to a pending decision. Cash or cash equivalents are never permitted. If in doubt, ask the founders.
- Conflicts of interest: Disclose any personal interest that could affect your judgement on behalf of Equus.
- Donations and sponsorships: Political donations on behalf of Equus are not permitted. Charitable donations and sponsorships require approval by the founders and must not be used to obtain a business advantage.
- Third parties: Use reasonable due diligence when engaging agents, consultants and suppliers. Payments must match services actually provided and be made to the contracting party only.
3. Records, reporting and consequences
- Accurate records: All transactions must be recorded accurately and completely. Off-the-books accounts and false entries are prohibited.
- Reporting: Report suspected breaches to the founders. Reports can be made in confidence, and no one will face retaliation for reporting in good faith.
- Consequences: Breaches may lead to disciplinary action, including dismissal, and for business partners to termination of the relationship. Breaches may also be reported to the authorities.
- Responsibility: The founders are responsible for this policy and review it at least every two years.
Human Rights Policy
1. Purpose, Scope and Commitment
Equus is committed to respecting internationally recognised human rights as set out in the International Bill of Human Rights and the ILO Declaration on Fundamental Principles and Rights at Work. We follow the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises.
This policy applies to Equus founders, all employees and all operations. We expect suppliers and business partners to meet the same standards, as set out in our Supplier Code of Conduct.
2. Key principles
- Equal treatment: We do not tolerate discrimination, harassment or bullying, and we promote diversity and inclusion.
- No forced or child labour: We do not accept forced, bonded or trafficked labour, or child labour, in our operations or supply chain.
- Fair working conditions: We provide fair wages, reasonable working hours and written terms of employment in line with applicable law.
- Freedom of association: We respect employees' right to organise and to bargain collectively.
- Health and safety: We provide a safe and healthy working environment.
- Privacy: We protect the personal data of employees, customers and others in line with the GDPR.
- Communities and environment: We seek to avoid negative impacts on local communities and the environment.
3. Due diligence, grievances and responsibility
- Due diligence: We identify and assess actual and potential human rights risks in our operations and supply chain, take action to prevent and mitigate them, and track the results.
- Remediation: Where we have caused or contributed to adverse impacts, we will provide for or cooperate in remediation.
- Grievances: Employees, suppliers and other stakeholders can raise concerns with the founders, in confidence and without fear of retaliation.
- Responsibility: The founders are responsible for this policy, communicate it to employees and business partners, and review it at least every two years.
Terms of Procurement
1. Application and precedence
1.1 These General Procurement Terms (the "Terms") apply to all purchases of Goods and Services by Equus Energy Systems ApS ("Equus") from a supplier (the "Supplier"), unless otherwise agreed in writing.
1.2 The Supplier's own terms of sale, delivery or payment do not apply, even if they are referred to in an offer, order confirmation, delivery note or invoice, or if Equus does not object to them. Acceptance of Goods or payment does not imply acceptance of the Supplier's terms.
1.3 In case of conflict, the documents apply in this order: (i) a written framework or supply agreement signed by both parties; (ii) the Purchase Order including its specifications; (iii) these Terms; (iv) the Supplier's offer, to the extent accepted by Equus in writing.
1.4 The UN Convention on Contracts for the International Sale of Goods (CISG) does not apply. Danish non-mandatory law applies only to the extent these Terms do not provide otherwise.
2. Definitions
Agreement: The Purchase Order, these Terms and any other documents forming part of the purchase under Clause 1.3.
Deliverables: The Goods and Services, together with all related Documentation.
Documentation: Manuals, data sheets, certificates, declarations of conformity, test reports, drawings, software licences and other documents required to install, operate, maintain and resell the Goods.
Goods: Equipment, materials, components, software and spare parts ordered by Equus.
Purchase Order: Equus's written order, including specifications, delivery date, place of delivery and price.
Services: Work ordered by Equus, including transport, installation, commissioning, testing, training and maintenance.
Site: The place of delivery or performance stated in the Purchase Order, typically an Equus or customer BESS site.
Working Day: Monday to Friday, except Danish public holidays, 24 and 31 December and 5 June.
3. Orders and acceptance
3.1 Only written Purchase Orders issued by Equus are binding. Email and Equus's procurement system count as writing.
3.2 The Supplier shall confirm each Purchase Order in writing within three (3) Working Days. If the Supplier starts performance or does not reject the Purchase Order within that period, the Purchase Order is deemed accepted on these Terms.
3.3 An order confirmation that deviates from the Purchase Order binds Equus only if Equus accepts the deviation in writing.
3.4 Equus may change the scope, specifications, quantities or delivery date by written notice. If a change affects the Supplier's costs or time for delivery, the Supplier shall notify Equus in writing within five (5) Working Days with a documented proposal for adjusting price and time. No adjustment is due without such notice.
3.5 Equus may cancel a Purchase Order, in whole or in part, before delivery. Equus shall then pay for work already performed and documented, non-cancellable costs reasonably incurred, and Goods completed under the Purchase Order, but never more than the agreed price. No compensation is due for lost profit.
4. Prices, invoicing and payment
4.1 Prices are fixed and include packaging, Documentation, customs duties, export clearance, certificates and all other costs needed to deliver in accordance with the Agreement. Prices are exclusive of VAT.
4.2 The Supplier may invoice only after delivery and, where acceptance applies, after acceptance under Clause 7. Milestone payments apply only if stated in the Purchase Order and may be conditional on an on-demand bank guarantee for the advance amount.
4.3 Invoices must state the Purchase Order number, Equus's reference and the Supplier's VAT number, and be sent as PDF to Equus's invoice email address (contact@equusenergysystems.com) only. Invoices that do not comply may be returned and are not due until a compliant invoice is received.
4.4 Payment terms are thirty (30) days net from receipt of a correct invoice. Payment does not imply acceptance of the Deliverables or waiver of any claim.
4.5 Equus may set off any amount owed by the Supplier to Equus, including liquidated damages, against amounts owed to the Supplier.
5. Delivery, transfer of risk and title
5.1 Unless otherwise stated in the Purchase Order, Goods are delivered DDP (Incoterms® 2020) at the Site. The agreed delivery date is essential to Equus.
5.2 The Supplier shall agree the delivery time slot with Equus at least five (5) Working Days in advance. Partial or early deliveries require Equus's written consent.
5.3 Goods must be packed, marked and transported to prevent damage and in accordance with applicable rules, including ADR/IMDG rules for lithium-ion batteries. Each delivery must include a delivery note with the Purchase Order number, serial numbers and the Documentation.
5.4 Delivery is not complete until all Documentation has been received. Signature of a delivery note confirms receipt only, not conformity.
5.5 Risk passes to Equus on delivery under Clause 5.1 or, where the Purchase Order includes installation or commissioning, on acceptance under Clause 7.
5.6 Title passes to Equus on delivery or, if earlier, on payment. The Supplier warrants that the Goods are free from liens, retention of title and other third-party rights.
6. Delay and liquidated damages
6.1 The Supplier shall notify Equus in writing without delay when it becomes aware that a delivery date may not be met, stating the cause and the expected new date. Notice does not release the Supplier from its obligations.
6.2 If the Supplier fails to meet an agreed delivery or completion date, Equus is entitled to liquidated damages of 0.5 % of the price of the delayed Deliverables per commenced Working Day of delay, capped at 15 % of the total price of the Purchase Order.
6.3 Liquidated damages are without prejudice to Equus's right to claim compensation for documented loss exceeding the liquidated damages, including loss Equus incurs towards its customers, grid operators or the transmission system operator.
6.4 If the delay is material, or the cap in Clause 6.2 is reached, Equus may terminate the Purchase Order in whole or in part and buy substitute Deliverables from a third party at the Supplier's cost.
6.5 Equus does not waive its rights by accepting a late delivery without reservation.
7. Inspection and acceptance
7.1 Equus may inspect and test the Deliverables during manufacture, at factory acceptance tests (FAT) and on delivery, on reasonable notice. Inspection does not limit the Supplier's responsibility.
7.2 Where the Purchase Order includes installation or commissioning, the Deliverables are accepted only when site acceptance tests (SAT), and any grid compliance tests required by the grid operator, have been passed and Equus has confirmed acceptance in writing.
7.3 Equus will inspect Goods for visible damage and obvious quantity deviations within a reasonable time after delivery. Section 51 of the Danish Sale of Goods Act (købeloven) does not apply, and Equus's duty to examine is limited to such visible damage and quantity deviations.
7.4 Notice of a defect is in time if given within a reasonable time after Equus discovered the defect.
8. Warranty and defects
8.1 The Supplier warrants that the Deliverables:
- conform to the Purchase Order, specifications, data sheets and Documentation;
- are new, of good quality and free from defects in design, materials and workmanship;
- are fit for use in a grid-connected battery energy storage system as described in the Purchase Order;
- comply with all applicable laws, standards and grid codes, and carry CE marking where required; and
- are performed with the skill and care of a competent professional supplier.
8.2 The warranty period is twenty-four (24) months from acceptance or, where no acceptance applies, from delivery. Performance, capacity and degradation warranties for battery cells and modules stated in the Purchase Order or the Supplier's data sheets apply in addition and for their full term.
8.3 The Supplier shall remedy a defect, at Equus's choice by repair or replacement, without undue delay and at the latest within ten (10) Working Days after notice, or sooner where the defect stops or limits operation of the BESS. The Supplier bears all costs, including transport, dismantling, re-installation, travel and testing.
8.4 If the Supplier fails to remedy in time, or in urgent cases, Equus may remedy the defect itself or through a third party at the Supplier's cost, without affecting the warranty. Equus may also claim a price reduction, compensation or terminate the Purchase Order in accordance with Danish law.
8.5 For repaired or replaced parts, a new warranty period under Clause 8.2 starts on completion of the remedy. The warranty period is extended by any period in which the Deliverables cannot be used due to a defect.
8.6 Serial defects: if the same defect occurs in five (5) % or more of identical items within the warranty period, the Supplier shall, at its cost and at Equus's request, replace or modify all identical items, including those that have not yet failed.
8.7 The Supplier shall make spare parts and technical support for the Goods available on reasonable terms for at least ten (10) years after delivery.
9. Compliance and responsible business conduct
9.1 The Supplier shall comply with all applicable laws, including product safety, environmental, labour, health and safety, anti-bribery, competition and tax laws.
9.2 Batteries. For batteries and battery components, the Supplier shall comply with Regulation (EU) 2023/1542 (the EU Battery Regulation) as it applies from time to time. Without delay and at no extra cost, the Supplier shall provide the information Equus needs to meet its own obligations, including conformity documentation, labelling, carbon footprint information, recycled content data, battery passport data and supply chain due diligence information.
9.3 Chemicals and materials. The Supplier shall comply with REACH, RoHS and the conflict minerals rules where applicable, and provide material declarations on request.
9.4 Sanctions and export control. The Supplier warrants that neither it nor its owners, directors or subcontractors are subject to EU, UN, UK or US sanctions, and that the Deliverables do not contain components originating from sanctioned countries or persons in breach of applicable sanctions. The Supplier shall state the country of origin and any export control classification of the Goods.
9.5 Cybersecurity. Goods with software or network connectivity (including BMS, EMS and PCS controllers) shall be delivered with up-to-date security patches, without hidden remote access, and with a documented process for vulnerability handling and security updates during the warranty period. The Supplier shall notify Equus without undue delay of any known vulnerability or security incident affecting the Goods.
9.6 Code of conduct. The Supplier shall respect internationally recognised human rights, labour standards, environmental protection and anti-corruption principles, consistent with the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises, and comply with Equus's Supplier Code of Conduct as provided from time to time. The Supplier shall flow down equivalent requirements to its own subcontractors.
9.7 Audit. On reasonable notice, Equus or an independent auditor appointed by Equus may audit the Supplier's compliance with this Clause 9. Breach of this Clause 9 is a material breach.
10. Liability, product liability and indemnities
10.1 The Supplier is liable for loss caused by its breach of the Agreement in accordance with the general rules of Danish law, subject to this Clause 10.
10.2 Neither party is liable for the other party's indirect loss, including loss of profit, revenue or data, except (i) loss covered by Clauses 6.3, 10.4 and 10.5, and (ii) loss caused by gross negligence or wilful misconduct.
10.3 The Supplier's total liability under a Purchase Order is limited to 150 % of the price of that Purchase Order, except for liability under Clauses 9, 10.4, 10.5 and 12, and for gross negligence or wilful misconduct, which are uncapped.
10.4 Product liability. The Supplier shall indemnify Equus against product liability claims, including claims for personal injury and damage to property, caused by the Deliverables, to the extent such liability rests with the Supplier under the Danish Product Liability Act or general Danish law. The Supplier shall assist in any product recall at its own cost where the recall is caused by the Deliverables.
10.5 Third-party rights. The Supplier shall indemnify Equus and its customers against claims that the Deliverables infringe third-party intellectual property rights. At Equus's choice, the Supplier shall obtain the right for Equus to continue use, or modify or replace the Deliverables so they no longer infringe without loss of function.
10.6 Equus shall notify the Supplier promptly of any claim covered by Clauses 10.4 or 10.5 and give reasonable assistance. Equus's total liability towards the Supplier is limited to the price of the relevant Purchase Order.
11. Insurance
11.1 The Supplier shall maintain, with reputable insurers, at least:
- General and product liability insurance: DKK 25 million per event;
- Professional indemnity insurance (where the Supplier performs design): DKK 10 million per year;
- Transport/cargo insurance until risk passes: full replacement value of the Goods; and
- Employer's liability/workers' compensation insurance: as required by law.
11.2 On request, the Supplier shall provide insurance certificates. Insurance cover does not limit the Supplier's liability.
11.3 When working on Site, the Supplier shall comply with Equus's and the site owner's health, safety and environmental rules, including rules on high-voltage and battery-fire safety, and is responsible for its personnel and subcontractors.
12. Intellectual property, data and confidentiality
12.1 Each party retains its pre-existing intellectual property. The Supplier grants Equus and its customers a perpetual, irrevocable, royalty-free, transferable licence to use, install, operate, maintain, integrate and resell the Deliverables, including embedded software and Documentation.
12.2 Results, drawings and documents produced specifically for Equus under a Purchase Order belong to Equus on creation.
12.3 Equus may connect the Goods to its own trading and control systems. The Supplier shall provide the interfaces, protocols and access rights reasonably needed for this, including open, documented communication protocols (e.g. Modbus TCP, IEC 61850 or IEC 60870-5-104). Operational data generated by the Goods belongs to Equus or its customer, and the Supplier may use it only to perform the Agreement and its warranty obligations.
12.4 The Supplier shall keep confidential all non-public information received from Equus, including prices, customer and site information, and Equus's trading and control methods, and use it only to perform the Agreement. This obligation continues for five (5) years after the end of the Agreement, and indefinitely for trade secrets.
12.5 The Supplier may not refer to Equus or its customers in marketing without Equus's prior written consent.
12.6 Where the Supplier processes personal data on Equus's behalf, the parties shall enter into a data processing agreement in accordance with the GDPR.
13. Subcontracting, assignment and force majeure
13.1 The Supplier may not subcontract material parts of the Deliverables, or change the manufacturer or manufacturing site of battery cells, modules or PCS, without Equus's prior written consent. The Supplier remains liable for its subcontractors as for itself.
13.2 The Supplier may not assign or transfer the Agreement or any claim under it without Equus's prior written consent. Equus may assign the Agreement, including warranty rights, to a customer, a project company or a financing party.
13.3 Neither party is liable for failure to perform caused by circumstances beyond its control that it could not reasonably have foreseen or avoided, such as war, natural disaster, epidemic or general strike (force majeure). Shortage of materials or components, price increases, delays of subcontractors and strikes limited to the Supplier's own business are not force majeure, unless caused by force majeure themselves.
13.4 The affected party shall notify the other party in writing without delay. If force majeure lasts more than sixty (60) days, either party may terminate the affected Purchase Order without liability, and Equus shall pay only for Deliverables received.
14. Termination
14.1 Equus may terminate a Purchase Order, in whole or in part, with immediate effect by written notice if:
- the Supplier commits a material breach, including breach of Clause 9, and does not remedy it within ten (10) Working Days after written notice, where remedy is possible;
- the Supplier becomes insolvent, enters bankruptcy, reconstruction or similar proceedings, or stops payments; or
- the Supplier comes under the control of a sanctioned person or a direct competitor of Equus.
14.2 On termination due to the Supplier's breach, Equus may claim compensation, including additional costs of buying substitute Deliverables, and may keep and use Deliverables already received against payment of a proportionate price.
14.3 On termination for any reason, the Supplier shall deliver to Equus all Documentation, work in progress paid for by Equus and Equus's materials and information.
14.4 Clauses 8, 10, 12 and 15 and any other provisions intended to survive continue to apply after termination.
15. Governing law and disputes
15.1 The Agreement is governed by Danish law, excluding its choice-of-law rules and the CISG.
15.2 The parties shall first try to settle any dispute through negotiation between senior management.
15.3 If the dispute is not settled within thirty (30) days, it shall be settled by arbitration under the rules of the Danish Institute of Arbitration (Voldgiftsinstituttet), with the seat in Copenhagen and English as the language of the proceedings. Equus may in all cases bring claims before the courts of the Supplier's domicile.
15.4 Equus may change these Terms with effect for Purchase Orders issued after the change has been published or notified to the Supplier.