LightLab Sweden AB and Wallenius Water AB have agreed on enhanced cooperation - New industrial owner in LightLab Sweden AB

Lightlab and Wallenius Water AB have on 29 April signed a Letter-of-Intent regarding enhanced cooperation. The companies have now taken the next step. After negotiations and decisions by the respective Board of Directors, the companies have agreed as follows.

Wallenius Water AB invests, through its sister company Wallstreet AB, SEK 2 million in Lightlab by means of a directed equity issue at a subscription price of SEK 1.20 per share. This gives Wallstreet AB 1,666,666 shares in LightLab Sweden AB, which corresponds to about 4 percent of the total number of shares.

Furthermore, at LightLab’s Annual General Meeting, held on May 7, Mr. Torkel Elgh, CEO of Wallenius Water AB, was elected as new member of the board.

"We look forward to continuing and enhancing the cooperation with Wallenius Water AB, a leading player in chemical free water purification. We see the interest in investing in LightLab as a confirmation that LightLab’s technology, EEE Light®, has a significant commercial potential in the UV market for purification of air and fluids", says Johan Tingsborg, CEO LightLab Sweden AB

For further information regarding this press release please contact:

Jan Rynning, Chairman of the Board
Tel: 46 (0)703 51 00 05

Johan Tingsborg, CEO
Tel: 46 (0)8 442 0550

This is LightLab Sweden AB
LightLab is developing a new, environmentally-friendly lighting technology, EEE Light® Technology LightLab has  4,000 shareholders. The companys shares are listed on NASDAQ OMX First North. The companys certified adviser is Erik Penser Bankaktiebolag.

About Us

LightLab Sweden AB develops, markets and offers a unique technology that is sustainable and cost-effective. The focused applications are UV disinfection of water, air and surfaces. The core technology EEE Light®, consists of material and process technology for cost efficient manufacturing of nanostructures combined with innovative electronics solutions.