Leclanché secures $8.2 million in financial backing


The lithium-ion battery maker has secured further financial support for its operating and growth plans. Yesterday, shareholders, Universal Holdings and Bruellan each agreed to restructure and extend loans to Leclanché totaling CHF 2 million and CHF 750,000, respectively.

Recharge, also a shareholder has agreed to convert up to CHF 17 million of its loan into equity. In addition to the CHF8 million facility B loan already agreed, the Danish company has further increased the company’s growth capital facility by CHF 5 million.

This is expected to help Leclanché with the execution of its recently announced battery power projects: a 2.8 MW battery energy storage system to Younicos for its MW-scale renewable energy plus storage system’, under development in the Azores; and a battery power plant for the "world’s largest" electric ferry.