The amount of Enersense’s investment in P2X has been specified
Enersense International Plc
Stock Exchange Release 31 January 2022 at 3:15 p.m.
Enersense International Plc (”Enersense”), a provider of zero-emission energy solutions, announced on 8 December 2021 that it had signed an agreement on a EUR 13–18 million equity investment in green hydrogen producer P2X Solutions Oy (”P2X”) and related partnership arrangement. As announced, Enersense will, subject to the completion of the investment, subscribe for new shares in P2X so that its holding in P2X will be around 16.3–22.5%. In addition, Enersense announced on 3 January 2022 that the timetable of the arrangement has been specified insofar as the conditions precedents of the arrangement are estimated to be fulfilled by the end of January 2022 with the completion of the arrangement to take place in February 2022.
As the arrangement has progressed, the amount of Enersense’s investment has been confirmed and is, subject to the completion of the arrangement, EUR 13 million. Based on the investment and after potential options, Enersense’s ownership in P2X would be around 16,3 per cent. The remaining conditions precedent for the arrangement are expected to be fulfilled and the arrangement is expected to be completed during February 2022.
Jussi Holopainen, CEO of Enersense International Plc:
“Hydrogen is playing a significant role in creating a climate-neutral energy system by 2050. Hydrogen can not only replace fossil fuels, but it also allows longer term storage of clean energy. Subject to the completion of the investment, Enersense will obtain an excellent position in the promotion of the hydrogen economy which will enhance our role in the value chain of zero-emission energy solutions.”
The key terms and conditions of the arrangement are described in Enersense’s stock exchange release of 8 December 2021.
More information:
Jussi Holopainen, CEO
Tel. +358 44 517 4543
Email: jussi.holopainen@enersense.com
Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com
Enersense in brief:
Enersense International Plc is a provider of zero-emission energy solutions. The company is strongly involved in supporting the ongoing energy transition and enabling a zero-emission society. The Enersense Group’s turnover in 2020 was around EUR 144 million. The pro forma turnover of the Enersense-Empower Group, which was consolidated in 2020, was around EUR 241 million in 2020. The company has around 2,000 employees, and it operates in Finland and internationally in around 40 countries. Enersense’s share is quoted on the Nasdaq Helsinki (ESENSE). The company provides information for investors at www.enersense.com/investors.