Scandinavian Enviro Systems secures bridge financing of SEK 6 million

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 support from shareholders and the board, secured the need for financing during the coming quarter.

Enviro secures its financing covering the need for working capital during the coming quarter. This financing solution has been conducted by a combination of direct loans and a guarantee from the board and several shareholders.

The total financing amount is SEK 6 million and will cover the period up to February 28, 2018. The cost for the financing corresponds to a yearly interest of 12%.

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

For further information, please contact:
Thomas Sörensson, CEO, tel: +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se  
Stig-Arne Blom, Board Chairman, tel: +46 (0)705-25 16 15, stigarne@blom.pp.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se

Scandinavian Enviro Systems AB
Regnbågsgatan 8C
417 55 Gothenburg
info@envirosystems.se
www.envirosystems.se

This information is the information that Scandinavian Enviro Systems AB (publ) is required to make public under the EU’s Market Abuse Regulation. The information was submitted for publication by the above-mentioned contact person on 29th November 2017, time 11.15 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. https://www.envirosystems.se/en/

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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. www.envirosystems.se

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