EQS-Adhoc
Leclanché announces strong growth in 2020 and new funding facilities to support its 2021 positive trajectory
EQS Group-Ad-hoc: Leclanché SA / Key word(s): Financing/Funds Leclanché announces strong growth in 2020 and new funding facilities to support its 2021 positive trajectory |
- 2020 Revenue is expected to be 45% more than 2019 reaching CHF 23 million, despite the slowdown due to the ongoing pandemic
- 2021 revenues are expected to nearly double over 2020 to CHF 38 to CHF 44 million
- CHF 59.6 million of new funding agreement facilitated by SEFAM[1] to support its strong growth trajectory in 2021 and beyond
- SEFAM has agreed to convert CHF 33.8 million of loan into Leclanché equity
- Outlook for 2021 encouraging despite adverse global situation
YVERDON-LES-BAINS, Switzerland, 30th March 2021 - Leclanché SA (SIX: LECN), one of the world's leading energy storage companies, today announced new funding facilities to allow the Company to match its solid order book and product delivery for 2021. Outlook for the coming year is positive, with concrete signs of growing interest from customers in Leclanché's innovative technology, both in the Stationary Storage and the e-Transport businesses.
SEFAM, Leclanché's majority shareholder, has agreed to provide Leclanché with an aggregate financing of CHF 59.6 million in the form of several loan facilities. This additional financing from a long-time supportive shareholder of Leclanché consists of the following instruments:
- Three convertible loans for a total amount of CHF 26.7 million to be disbursed according to an agreed upon monthly schedule;
- A convertible facility of no less than CHF 32.9 million granted by SEFAM and its related parties. Depending on the circumstances, namely the possibility to trade a certain number of their Leclanché shares, such amount might be higher.