Reminder of ongoing Rights issue in SaltX - Resources are being added for increased focus on large-scale energy storage
Stockholm, December 3, 2018
Nasdaq First North-listed energy storage company SaltX (SALT: B) is reminding of the ongoing preferential issue with the purpose of providing the company with a maximum of SEK 80 million. The issue is fully guaranteed through subscriptions from the principal shareholders Industrifonden and Skirner AB and through guarantees from a guarantee consortium.
The market for large-scale energy storage is increasing significantly, which SaltX Technology is focusing on. Therefore, there is an increased focus on EnerStore, where the company is conducting a pilot project in Berlin together with Vattenfall.
"The company's focus right now is to complete and implement the pilot project at Vattenfall in Berlin. In parallel with this work, we have prepared for commercial launch and increased production volume, through new collaborations with several strategic partners like Östfold, Nordkalk and Wacker, "said Karl Bohman, CEO of SaltX Technology, and continues: "Together with Ahlstrom-Munksjö, we are since ¾ year working on developing the next generation of energy storage to be competitive for many years to come. The cooperation involves the development of a new medium for energy storage based on the super-material graphene."
Read the information sheet linked to the Rights issue here (Swedish)
Information about current Rights issue
SaltX carries out a Rights issue with preference for shareholders which provides the company with a maximum of SEK 80.6 million before issue costs. The subscription period is ongoing this week until Friday December 7. The issue is for one unit per four old shares and each unit consists of a new share and a warrant of series TO6. The subscription price is SEK 5.50 per unit. Trading of unit rights is ongoing on Nasdaq First North Premier until Wednesday December 5. The issue is fully guaranteed through subscriptions from the principal shareholders Industrifonden and Skirner AB for a total of SEK 27 million and through guarantees from a guarantee consortium for the remainder of the Rights issue.
For further information, please contact:
Harald Bauer, CFO SaltX Technology, +46 (0) 708 10 80 34
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About SaltX Technology
SaltX Technology – http://saltxtechnology.com/– develops and sells patented energy storage technology. Main customers are major global OEM partners and energy companies such as Alfa Laval, Vattenfall, Mobile Climate Control and Rheem. SaltX Technology's share is listed on Nasdaq Stockholm First North Premier. SaltX Technology’s Certified Adviser is FNCA Sweden AB.