PLAGAZI EXTENDS ITS SERIES-A WITH AN ADDITIONAL SEK 20M INVESTMENT FROM EXPERIENCED ENERGY INFRASTRUCTURE INVESTOR, UTURN2INNOVATION
Uturn2innovation, an investment entity primarily focused on renewable energy projects, has committed to an equity investment in Plagazi AB (publ) (“Plagazi” or the “Company”) of SEK 20 million to be utilized towards Plagazi’s current projects with the main focus being the development of Köping Hydrogen Park. The directed issue is in cooperation with Plagazi’s financial advisor Vator Securities, a part of Plagazi’s expanded Series A round to facilitate the Company’s further growth and development. The funding from Uturn2innovation will help to ensure steady progress towards completion of relevant milestones up until the start of Köping Hydrogen Park’s operational stage in the second half of 2025, but also tie relevant and essential knowledge to the Company’s Board of Directors.
Christian Engsted, founder of Uturn2innovation, has over 20 years of experience in project finance and turn-key development of renewable energy projects, mainly within the wind power sector. He has spent his career working across Africa, Europe, and North America, and will now be able to provide Plagazi with his extensive insight into innovative energy project developments.
Christian’s most significant specialties include developing industrial companies and projects within the renewable and sustainable energy sector. This will enable him to, in addition to providing investment crucial to the further development of Köping Hydrogen Park and Plagazi’s project pipeline, assist with further expertise within these areas, and facilitate further growth of our project development portfolio.
”At Uturn2innovation we believe in investing into technologies and companies having the power and competence to change the global energy agenda. Plagazi is such a company having the leading patented technology to convert waste to hydrogen. I look forward to supporting the board and the company on its exciting journey” - Christian Engsted, CEO Uturn2innovation ApS.
“Having Christian joining the Plagazi journey and contributing his extensive experience as an energy project developer is incredibly significant during these times when Plagazi needs to capitalize on our current momentum with our project portfolio, especially the development of Köping Hydrogen Park. We are happy to welcome Christian Engsted to the company and our board-of-directors, he will surely have extremely valuable insights into how we could further expedite and optimize the go-to market process for Plagazi’s promising technology.” – Torsten Granberg, CEO Plagazi AB (publ)
For further information, please contact:
Torsten Granberg, CEO, Plagazi AB (publ)
Email: torsten.granberg@plagazi.com
Phone: +46 70 676 12 34
About Plagazi AB (publ):
Plagazi AB is a Swedish clean-tech company which is revolutionizing the production of green hydrogen. Plagazi helps society close the circular loop by transforming waste into green hydrogen through plasma gasification, contributing to resolve the significant global issue of non-recyclable waste, renewable energy sources and carbon emissions. With multiple active projects across Europe, the company aims to become the answer to the continents strive to reach its climate goals.
More Information:
Follow Plagazi on LinkedIn:
https://www.linkedin.com/company/plagazigreenhydrogrenfromwaste/
