YVERDON LES BAINS, Switzerland, 5th July 2017: Leclanché SA (SIX: LECN), one of the world’s leading energy storage solution companies, announced today a funding update.
Golden Partner and its affiliates, collectively Leclanché’s largest shareholder, have subscribed to an additional CHF 3.5 million in shares in the Company. This is in conjunction with the conversion by our key shareholders Bruellan and Trialford of their respective CHF 1 million and CHF 0.5 million convertible notes into equity.
The Company wishes to sincerely thank these major shareholders and Noteholders for their continued support. Leclanché is working with them to raise the required capital to finance its growth plan, following two successful years of expansion.
Funding options include a rights issue, private placement with institutional shareholders and a dual-listing on a North American exchange. As per Leclanché’s announcement on 7th June, exploratory discussions to list in North America, the fastest growing energy storage market in the world, have highlighted that there is significant investor appetite for Leclanché.
While Leclanché continues to work to raise the substantial capital required to deliver its business plan, delivery of these funds could be delayed, risking the Company’s planned results. Leclanché will provide a funding status update to shareholders and the market by mid-July.
In two years, Leclanché has delivered a revenue increase of 250 per cent, and generated an order book of more than 90 MWh in stationary projects.
On 26th June Leclanché announced a worldwide deal with Skoda Electric in which Leclanché will provide Skoda Electric with battery solutions for its electric bus expansion strategy. In addition to this Leclanché is also in advanced negotiations with an automotive systems integrator for a large volume contract in India for which test units are being shipped shortly.
Headquartered in Switzerland, Leclanché SA is a leading provider of high-quality energy storage solutions designed to accelerate our progress towards a clean energy future. Leclanché’s history and heritage is rooted in over 100 years of battery and energy storage innovation and the Company is a trusted provider of energy storage solutions globally. This coupled with the Company’s culture of German engineering and Swiss precision and quality, continues to make Leclanché the partner of choice for both disruptors, established companies and governments who are pioneering positive changes in how energy is produced, distributed and consumed around the world. The energy transition is being driven primarily by changes in the management of our electricity networks and the electrification of transport, and these two end markets form the backbone of our strategy and business model. Leclanché is at the heart of the convergence of the electrification of transport and the changes in the distribution network. Leclanché is the only listed pure play energy storage company in the world, organised along three business units: stationary storage solutions, e-Transport solutions and specialty batteries systems. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
This press release contains certain forward-looking statements relating to Leclanché’s business, which can be identified by terminology such as “strategic”, “proposes”, “to introduce”, “will”, “planned”, “expected”, “commitment”, “expects”, “set”, “preparing”, “plans”, “estimates”, “aims”, “would”, “potential”, “awaiting”, “estimated”, “proposal”, or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché’s production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché’s products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
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