Exiting shareholders Golden Partner and its affiliates have subscribed to an additional CHF3.5 million shares in energy storage solutions specialist Leclanché.
At the same time key shareholders Bruellan and Trialford have converted their respective CHF1 million and CHF0.5 million convertible notes into equity.
Leclanché says it is now working with its existing shareholders to raise the required capital to finance its growth plan, following two successful years of expansion. Funding options include a rights issue, private placement with institutional shareholders and a dual-listing on a North American exchange. As per Leclanché’s announcement on 7 June, exploratory discussions to list in North America, the fastest growing energy storage market in the world, have highlighted that there is significant investor appetite for the firm.
While Leclanché continues to work to raise the substantial capital required to deliver its business plan, delivery of these funds could be delayed, risking the company’s planned results. Leclanché will provide a funding status update to shareholders and the market by mid-July.
In two years, Leclanché has delivered a revenue increase of 250 per cent, and generated an order book of more than 90 MWh in stationary projects.
On 26 June Leclanché announced a worldwide deal with Skoda Electric in which the firm will provide Skoda Electric with battery solutions for its electric bus expansion strategy. In addition to this Leclanché is also in advanced negotiations with an automotive systems integrator for a large volume contract in India for which test units are being shipped shortly.
