YVERDON-LES-BAINS, Switzerland, 23rd December 2021 – Leclanché SA (SIX: LECN), one of the world’s leading energy storage solutions companies, today provides a significant business update.
The carveout of the eTransport Business and its intended merger with a U.S.-listed Special Purpose Acquisition Company (SPAC):
The Company is at a transformational stage with its advancement in business and the implementation of the strategic reorganization that was announced on 15th September 2020. Following this announcement, and the recent update on 29th September 2021, we are pleased to report that an important milestone has been achieved with the incorporation of a new wholly owned Swiss entity, Leclanché E-Mobility S.A., on 16th December 2021. The Company intends to merge this entity with a U.S.-listed SPAC.
The Board of Directors and the Executive Committee of Leclanché are convinced that a successful completion of this exciting merger would be good for all Leclanché shareholders, all Leclanché employees, and all other stakeholders such as our customers and suppliers. Further details shall be provided at the time of the announcement of a definitive merger, expected by mid-February 2022.
The business operations temporarily affected by tight liquidity and the disruption of the global supply chain:
Continued customer wins and strong growth momentum:
Notwithstanding the ongoing supply chain issues, the Company has recently been selected as a strategic supplier, from several Original Equipment Manufacturers (OEMs), in the fields of specialized mining, agriculture and defense vehicles. The cumulative business from these customers is expected to add more than CHF 150 million of revenue over a period of five years, with engineering services and pilot systems delivery expected from the second half of 2022. These exciting wins further solidify the significant Contracted Revenue Pipeline reported by the Company during the Annual General Meeting (AGM) on 30th June 2021.
Ad hoc announcement pursuant to Art. 53 LR
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.
Media Switzerland / Europe:
T: +41 (0) 79 785 35 81
Media North America:
Henry Feintuch / Ashley Blas
T: +1-646-753-5710 / +1-646-753-5713
T: +49 (0) 711 947 670
Anil Srivastava / Hubert Angleys
T: +41 (0) 24 424 65 00
 SEFAM means: AM INVESTMENT SCA, SICAV-SIF – Illiquid Assets Sub-Fund and AM INVESTMENT SCA, SICAV-SIF – R&D Sub-Fund, together with STRATEGIC EQUITY FUND – Renewable Energy Sub-Fund, STRATEGIC EQUITY FUND – Multi Asset Strategy Sub-Fund, STRATEGIC EQUITY FUND – E Money Strategies Sub-Fund (also called Energy Storage Invest) and, all these funds being in aggregate the main shareholder of Leclanché, hereunder referred to as “SEFAM.”