Opcon’s Australian partner Enerji Ltd secures $25 million bond finance facility
Opcon, the energy and environmental technology Group’s Australian partner and customer Enerji Ltd. (ERJ:ASX), today announced having secured a $ 25 million redeemable zero coupon convertible bond facility, subject to shareholder approval, to finance future installations of Opcon Powerbox units.
For further information, please see Enerji Ltd’s press release:
The announcement follows shortly after Enerji having announced signing a Memorandum of Understanding with Horizon Power to install an Opcon Powerbox at its Carnarvon power station in 2011 and Enerji disclosing being in advanced negotiations with other potential customers.
Enerji has to this date ordered six 3rd Generation Opcon Powerboxes and has singled out the first for Horizon’s Carnarvon power station.
“Both as shareholder and partner Opcon fully supports this deal. We are very happy that Enerji has been able to find this financial backing for their business plan and for its new approach with the increased focus on core business from Enerji’s board of directors. This will give Enerji the financial muscle needed to begin taking advantage of the business opportunities we see on the Australian market”, says Rolf Hasselström, President and CEO of Opcon AB.
A part of Opcon’s focus on Waste to Value, Opcon Powerbox is Opcon’s proprietary product for production of new carbon-free electricity primarily from waste and surplus heat at temperatures as low as 55° C. Among other applications, Opcon Powerbox can be installed in large process plants, power stations, large diesel engines or after adjustments on large vessels and can produce up to 6,000 MWh per year.
For further information, please contact
Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. +46-70-592 54 53
The Opcon Group
Opcon is an energy and environmental technology group that develops, produces and markets systems and products for the eco-friendly, efficient and resource-effective use of energy.
Opcon has operations in Sweden, China, Germany, and the UK. There are around 390 employees. The company’s shares are listed on Nasdaq OMX Stockholm. The Group comprises two business areas:
Renewable Energy focuses on generating electricity from waste heat, bioenergy, systems for handling natural gas, industrial cooling, recycling of heat, drying of biomass, treatment of flue gases, handling systems for biomass, etc., air systems for fuel cells and the measurement and monitoring of processes.
Engine Efficiency focuses on energy-efficient solenoid technology and ignition systems for combustion engines including ethanol, natural gas and biogas engines.