Enersize receives grant pay-out from Finnpartnerships for activities in China
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Enersize has received a 97.000 EURO grant pay-out from Finnpartnerships for activities in building long-term business partnerships in China in order to improve energy efficiency and reduce CO2 emissions in China
The activities were aimed at a joint venture, installation and maintenance contracts and / or local manufacturing and significant industrial emissions reductions.
The pay-out is based on a grant decision by Finnpartnership from 2015 to support Enersize in the aforementioned tasks. The pay-out is the result of Finnpartnerships eligibility review in 2017 of agreed and performed activities. The pay-out reimburses Enersize for occurred costs for actions in accordance with the guide-lines in the original grant decision. The Pay-out was made as a one-time payment in December 2017 and Enersize does not have any further performance obligations beyond follow-up reporting on the project. As the pay-out is based on already occurred costs there are no restrictions for Enersize on the usage of the increased cash-balance caused by the pay-out.
For more information about Enersize:
Christian Merheim, Chairman of the Board
Telefon: +46(0)708-182 853
With Enersize proprietary software for data collection and analysis, Enersize can provide up to 30% energy savings in industrial compressed air systems. 90% of the manufacturing industry uses compressed air that accounts for ~5% of the world's electricity consumption. Among Enersize's existing customers are one of the world's largest manufacturers of flat panel displays, vehicle manufacturers, paper plants and steel plants. The company has its head office in Helsinki as well as one R&D office in Lund, Sweden. Enersize is publicly listed at Nasdaq First North Stockholm (ENERS). www.enersize.com