Scandinavian Enviro Systems secures bridge financing of MSEK 7,5

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Scandinavian Enviro Systems AB (publ) (”Enviro” or ”the Company”) has, with the help of the biggest shareholder, secured the need for financing for the coming 4 months.

Enviro secures its financing covering the need for working capital until the end of May 2018. This financing solution has been conducted by direct financing from the biggest shareholder of the Company, Pegroco Holding AB.

The total financing amount is SEK 7,5 million and will be in power up to May 31, 2018. The cost for the financing corresponds to a yearly interest of 12%. The main part of the previously communicated bridge financing will be prolonged for the same period and at the same conditions.

“We are one of the bigger shareholders in Enviro and we believe in the leading technology, which the Company has developed for end of life tyres.” says Thomas Brue, CEO of Pegroco Invest AB

“We are very happy that our biggest shareholder shows their trust in our technology by supporting us with this financing.” says Thomas Sörensson, CEO of Enviro.

Enviro is currently also exploring a long-term financing plan and will revert with more detailed information within a short period of time.

For more information, please contact:
Thomas Sörensson, CEO Enviro, tel: +46 (0)735-10 53 43,
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11,
Alf Blomqvist, Acting Chairman Enviro, +46 733 149 700,
Mangold Fondkommission AB is the Certified Adviser of Enviro at Nasdaq First North Stockholm.

Scandinavian Enviro Systems AB
Regnbågsgatan 8C
417 55 Gothenburg  

This information is information that Scandinavian Enviro Systems AB (publ) is required to publish under the EU regulation on market abuse. The information is provided under the auspices of the contact person listed above for publication on February 7th 2018 at 10:25 CET.

Enviro is an environmental company that offers profitable recovery of tyres and processed materials primarily to the rubber industry. The company sells turn-key environmental facilities to industrial investors and also operate their own plant for end-of-service tyres in Åsensbruk, Sweden. Enviro, headquartered in Gothenburg, was founded in 2001, has 20 employees, and is listed on the Nasdaq First North securities exchange with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, as its Certified Advisor.

About Us

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North securities exchange with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, as its Certified Advisor.