ChromoGenics announces a conditional loan of 47,6 MSEK is converted to a grant
ChromoGenics announces a conditional loan of 47,6 MSEK is converted to a grant
The Swedish Energy Agency changes its decision from November 29, 2012, so that support in the form of an advance with repayment obligation to ChromoGenics AB (Conditional Loan) is now converted to a grant.
On November 29, 2012, ChromoGenics AB was granted support to carry out a project by the Energy Agency. The support was provided in the form of an advance with a repayment obligation (Conditional Loan), which is a loan where the repayment conditions depend on the project's outcome.
The Swedish Energy Agency announces that they have conducted a review of older cases where support has been provided in the form of an advance with a repayment obligation, so-called "Conditional Loans."
The Energy Agency announces in a decision dated 2024-05-29 and communicated to the Company on 2024-05-30 that, since the Company has an approved final report, the support, like that of other recipients with an approved final report, will be changed from an advance with a repayment obligation to a non-repayable grant. The Company's commitments under the previous form of support thereby cease on the date of this decision.
The decision means that the remaining loan debt of SEK 47.6 million will be written off as of 2024-05-29. However, the accrued unpaid interest will remain.
This information constitutes such information that ChromoGenics AB is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted by the above-mentioned contact persons for publication on May 30th, 2024 at 13:00 AM CET.
Contact
Fredrik Fränding, CEO
Anne-Marie Gullman, CFO & Head of Investor Relations
Tel: +46 (0) 18 430 0430
E-mail: info@chromogenics.com
ChromoGenics
About ChromoGenics
ChromoGenics is a proptech company that produces smart dynamic glass, improving indoor environment and well-being while reducing energy consumption, operational costs, and climate impact in real estate. The product, ConverLight® dynamic glass, is based on a unique patented technology from the Ångström Laboratory in Uppsala, where electrochromic coatings are sputtered onto plastic films. The result is a dynamic foil that can be laminated into glass, providing effective sun protection in buildings and reducing environmental impact in production, transportation, and usage. The dynamic foil is easy to transport and can be applied by local partners in the glass industry, avoiding the need for long-distance shipments of bulky glass. All products from ChromoGenics prioritize environmental and health aspects, focusing on eco-friendly materials, reduced energy consumption, increased access to daylight and views, and improved indoor comfort.
ChromoGenics' production facility in Uppsala has been partly financed through conditional loans from the Swedish Energy Agency. ChromoGenics' stock (CHRO) is listed on the Nasdaq First North Growth Market, with Vator Securities serving as the Certified Adviser.