• Leclanché further strengthens its funding and balance sheet
• Commitment for significant debt reduction of up to CHF 17 million
• Additional growth capital of CHF 5 million agreed

Yverdon-les-Bains, Switzerland, 2 July 2015 – Following the announcement of two of the most important and world leading projects in the micro-grid battery storage system and electro mobility segments, Swiss battery manufacturer Leclanché confirms it has now secured additional financial support for its operating and growth plan.

Endorsing the major break-through projects secured in the first half of 2015 – a Battery Power Plant on the Azorean island of Graciosa and the Battery Power Plant for the world’s largest electric ferry (amounting in combination to some 8,400KWh of battery storage), further key steps were taken yesterday towards ensuring availability of funds to invest in the company’s growth:

• Recharge has given an undertaking, subject to certain conditions, to convert up to CHF 17 million of its loan into equity, thereby significantly strengthening Leclanché’s balance sheet.
• Universal Holdings and Bruellan have agreed to restructure and extend their loans, respectively CHF 2 million and CHF 750’000 which had been due at the end of June 2015, allowing Leclanché to secure additional long term growth capital to execute its growth plan.
• Recharge has agreed to a further increase of CHF 5 million in the company’s growth capital facility, in addition to the CHF 8 million Facility B loan already announced.

Scott Macaw and Robert Robertsson, directors of Recharge A/S, commented: «We are pleased with the progress Leclanché has made in the past six months. Conversion of such a large loan into equity represents our even greater commitment to support Leclanché’s growth. Additionally, Recharge’s increase of Facility B will allow the management team to put more focus on execution of the large projects the company has won. We believe this is an extremely positive development for all stakeholders of Leclanché, including its customers, trading partners, employees and shareholders».

Jim Atack, Chairman of Leclanché, commented: «These announcements further validate Leclanché’s growth strategy. On behalf of the Board, I would like to congratulate the CEO, Anil Srivastava, and his management team for their commitment and capacity to deliver these major projects and to record our appreciation for this strong expression of support from shareholders».

For further information
Claude-Olivier Rochat, Voxia communication -Mobile +41 (0)79 203 52 19  co.rochat@voxia.ch
Rohan Sant, Voxia communication – Mobile +41 (0)79 120 00 28
rohan.sant@voxia.ch

About Leclanché

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

Disclaimer

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.

Contacts Leclanché

Media Switzerland /Europe:

Thierry Meyer

T: +41 (0) 79 785 35 81

E-mail: tme@dynamicsgroup.ch

Media North America:

Henry Feintuch / Ashley Blas

T: +1-914-548-6924 / +1-509-494-4053

E-mail: leclanche@feintuchpr.com  

Media Germany:

Christoph Miller

T: +49 (0) 711 947 670

E-mail: leclanche@sympra.de

Investor Contacts:

Anil Srivastava / Hubert Angleys

T: +41 (0) 24 424 65 00

E-mail: invest.leclanche@leclanche.com