Leclanché SA

EQS-News: Leclanché's rapidly advancing growth strategy draws substantial additional support from shareholders

EQS Group-News: Leclanché SA / Key word(s): Corporate Action
Leclanché's rapidly advancing growth strategy draws substantial
additional support from shareholders

02.07.2015 / 07:16


Leclanché's rapidly advancing growth strategy draws substantial additional
support from shareholders

  - Leclanché further strengthens its funding and balance sheet

  - Commitment for significant debt reduction of up to CHF 17 million

  - Additional growth capital of CHF 5 million agreed

Yverdon-les-Bains, Switzerland, 2 July 2015 - Following the announcement of
two of the most important and world leading projects in the micro-grid
battery storage system and electro mobility segments, Swiss battery
manufacturer Leclanché confirms it has now secured additional financial
support for its operating and growth plan.

Endorsing the major break-through projects secured in the first half of
2015 - a Battery Power Plant on the Azorean island of Graciosa and the
Battery Power Plant for the world's largest electric ferry (amounting in
combination to some 8,400KWh of battery storage), further key steps were
taken yesterday towards ensuring availability of funds to invest in the
company's growth:

  - Recharge has given an undertaking, subject to certain conditions, to
    convert up to
CHF 17 million of its loan into equity, thereby
    significantly strengthening Leclanché's balance sheet.

  - Universal Holdings and Bruellan have agreed to restructure and extend
    their loans, respectively CHF 2 million and CHF 750'000 which had been
    due at the end of June 2015, allowing Leclanché to secure additional
    long term growth capital to execute its growth plan.

  - Recharge has agreed to a further increase of CHF 5 million in the
    company's growth capital‎ facility, in addition to the CHF 8 million
    Facility B loan already announced.

Scott Macaw and Robert Robertsson, directors of Recharge A/S, commented:
«We are pleased with the progress Leclanché has made in the past six
months. Conversion of such a large loan into equity represents our even
greater commitment to support Leclanché's growth. Additionally, Recharge's
increase of Facility B will allow the management team to put more focus on
execution of the large projects the company has won. We believe this is an
extremely positive development for all stakeholders of Leclanché, including
its customers, trading partners, employees and shareholders».

Jim Atack, Chairman of Leclanché, commented: «These announcements further
validate Leclanché's growth strategy. On behalf of the Board, I would like
to congratulate the CEO, Anil Srivastava, and his management team for their
commitment and capacity to deliver these major projects and to record our
appreciation for this strong expression of support from shareholders».

For further information
Claude-Olivier Rochat, Voxia communication - Mobile +41 (0)79 203 52 19

Rohan Sant, Voxia communication - Mobile +41 (0)79 120 00 28

About Leclanché
Established in 1909 Leclanché has been a reliable partner for battery
storage technologies. Founded in the tradition of Georges Leclanché, the
inventor of the dry cell battery, Leclanché today has a rich portfolio of
Energy Storage Systems that include Specialized Customer-specific Battery
Systems to industry leading lithium-ion solutions.
Through the integration of a spin-off of the German Fraunhofer Institute in
2006 the company evolved from a traditional battery producer into one of
the first developers and manufacturers of lithium-ion cells in Europe.
Leclanché's Storage Solutions are optimized for various applications, in
particular for the integration of renewable energy, diesel fuel reduction,
electricity grid-connected ancillary services, peak power shaving for heavy
industries but also for heavy duty transportation in buses, trams, trains
or maritime vessels.
Leclanché products are characterized by a very high cycle stability (cells
with titanate anode) and long service life. Thanks to our patented
separator technology, which is a core element of lithium ion cells with
titanate anode, Leclanché is able to make cells with very good safety
characteristics in automated production. Leclanché operates a fully
automated plant for the production of large format lithium-ion cells at an
annual maximum capacity of up to 175MWh or up to one million cells.
In addition, Leclanché offers a number of specialized battery systems
through its Portable Business Unit, such as customer-specific energy
storage systems for military and medical applications. Leclanché also
distributes primary and secondary batteries and accessories of other
Leclanché, which is listed on the Swiss stock exchange (SIX:LECN), has a
wide range of storage products for homes, small offices, large industries,
electricity grids, hybridization for mass transport systems like fleet of
buses, trams etc.


02.07.2015 This Corporate News was distributed by EQS Schweiz AG.
www.eqs.com - news archive: http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.


Language:    English
Company:     Leclanché SA
             Av. des Sports 42
             1400 Yverdon-les-Bains
Phone:       +41 (24) 424 65-00
Fax:         +41 (24) 424 65-20
E-mail:   investors@leclanche.com
Internet: www.leclanche.com
ISIN:        CH0110303119, CH0016271550
Valor:       A1CUUB, 812950
Listed:      Foreign Exchange(s) SIX

End of News    EQS Group News-Service
374481 02.07.2015

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