Climeon is granted a loan from SEK and DNB to further develop its business
Climeon AB (publ) is further developing its offering within geothermal heat power and waste heat recovery in order to be able to offer more comprehensive power plant solutions and has been granted a two-year loan agreement of EUR 7.5 million by The Swedish Export Credit Corporation (SEK) and DNB, with a guarantee from the European Investment Fund (EIF).
- Selling more comprehensive solutions is an important part of Climeon's strategy. The loan gives us better conditions for further developing surrounding services and products, in order to offer the customer a more complete solution for renewable electricity production, says Thomas Öström, CEO of Climeon.
- We are proud to be involved in financing Climeon's technology for green electricity production and thus contribute to a clear transition and reduced greenhouse gas emissions, says Ulrika Virgin, Customer Manager at SEK.
- In order for us to be able to reach the Paris Agreement and limit global warming, investments in renewable energy are required. That is why we at DNB are very proud to finance Climeon and be part of their journey that contributes to the green transition, says Astrid Lindesvärd, Customer Manager within Renewables & Infrastructure at DNB in Stockholm.
The loan amounts to EUR 7.5 million and runs over two years. Disbursement of the loan is subject to conditions that Climeon estimates will be met before the end of October 2020.
- SEK wants to be a positive force in the transition. Climeon's business is completely in line with our ambition to enable the export industry's investments towards a climate-neutral society, says Andreas Ericson, Head of Medium-sized Companies at SEK.
SEK, The Swedish Export Credit Corporation, is a state-owned company that finances Swedish export companies, their subcontractors and foreign customers on commercial and sustainable terms.
DNB is one of the leading Nordic players in banking, finance and insurance and a significant player in the financing of renewable energy.
EIF designs, promotes and implements equity and debt financial instruments which specifically target small and medium sized enterprises.
This information is such that Climeon AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons below, at the time set out above.
For more information, please contact:
Thomas Öström, CEO of Climeon, +46 708 94 96 05, thomas.ostrom@climeon.com
Charlotte Becker, Investor Relations Climeon, +46 730 37 07 07, charlotte.becker@climeon.com
About Climeon AB (publ)
Climeon is a Swedish product company within energy technology. The company’s unique technology for geothermal heat power - Heat Power - makes a large untapped energy resource available and provides sustainable electricity around the clock all year round. Heat Power is a cheap and renewable energy source with the potential of replacing much of the energy that comes from coal, nuclear, oil and gas, today. Climeon aims to become a global leader and the world's number one climate solver. The B share is listed on Nasdaq First North Premier. Certified Adviser is FNCA Sweden AB, +46(0)8-528 00 399, info@fnca.se.