08.11.2017 – 18:34

Leclanché SA

EQS-Adhoc: Leclanché SA: EPAL Partners with Leclanché and Deltro and Invests US $12 million in First Utility-scale Canadian Energy Storage Project

EQS Group-Ad-hoc: Leclanché SA / Key word(s): Investment/Financing
Leclanché SA: EPAL Partners with Leclanché and Deltro and Invests US $12 million
in First Utility-scale Canadian Energy Storage Project

08-Nov-2017 / 18:27 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

--------------------------------------------------------------------------------

EPAL Partners with Leclanché and Deltro and Invests US $12 million in First
Utility-scale Canadian Energy Storage Project

-Investment to support India's COP 21 commitment of generating 175GW from
renewable energy by 2022

- Partnership to support e-mobility mission of Government of India

- The 28 MW / 14 MWh battery storage system is one of the largest in North
America

LONDON/ YVERDON LES BAINS, Switzerland, November 8, 2017: EPAL, a joint venture
between Indian state-owned Energy Efficiency Services Limited (EESL) and
UK-based EnergyPro Limited (EP), is partnering with leading battery storage
solutions provider Leclanché, starting with the investment of US $12 million in
a previously announced and nearly completed advanced battery storage project in
Ontario, Canada, known as Basin 1 and 2[1]. The high-quality project, built and
owned by Leclanché and development partner Deltro Energy, is the first utility
scale energy storage facility designed to balance the Ontario power grid, with a
total investment of approximately US $25 million.

The battery storage project will provide services to the Independent Energy
Systems Operator (IESO) that oversees and manages the power grid of the province
of Ontario, and is interconnected to Toronto Hydro, the largest municipal
electricity distribution company in Canada. The Ontario power supply has shifted
heavily towards intermittent power sources over the past three years creating
additional grid management challenges for the IESO. The lithium battery storage
project will improve stability on Canada's largest transmission grid by managing
unbalanced supply-demand situations.

The partnership has strategic importance from India's perspective as its
government has set a target of achieving 175GW of renewable energy by the year
2022, equivalent to 40 per cent of the country's energy supply, up from 12 per
cent now. This was a part of India's commitment during COP21. To achieve this
target, India's energy supply will be dependent on intermittent power sources
and ancillary services will be required to stabilise the grid. Battery storage
will help achieve stabilisation, supply power to charging stations and reduce
the substantial Unscheduled Interchange (UI) charges payable by the country's
utilities and states (around $461.5 million annually).

Speaking on the occasion, Ambassador Mr. Dinesh K. Patnaik, Acting High
Commissioner of India to UK, said, "This partnership marks the beginning of a
significant development in the energy efficiency sector. With the
ever-increasing energy consumption, technologies like battery storage will go
hand in hand with efficiency to balance supply and demand. I am very hopeful
that EPAL, with its excellent track record in driving the UJALA (UK Joins
Affordable LEDs for All) initiative, will bring a revolution in the market with
its advancement into battery storage projects."

Mr Saurabh Kumar, Managing Director, EESL, and Chairman of subsidiary EPAL,
said, "We are delighted to partner with Leclanché. It has been our constant
endeavor to make future-ready technology solutions accessible. With a focus on
long, low-carbon initiatives globally, we have partnered with the world's
leading battery storage solution provider. We are confident that this
partnership will help bring a new era of clean energy solutions for the world."

"Working together with EESL on this project has highlighted some unique
synergies between the companies," saidAnil Srivastava, Leclanché CEO."We are
exploring many additional ways to integrate Leclanché's advanced lithium battery
solutions into stationary storage systems as well as new mobility applications
such as EV charging stations, full-electric buses and urban transportation
systems."

"At EnergyPro we are excited to be working with our JV partner EESL and
Leclanché on this significant utility scale energy storage project. We see it as
a first step to deploying energy storage solutions at a range of scales,
something that will be essential to the energy transition in all economies,"
saidSteven Fawkes, Managing Partner at EnergyPro Limited.

The Indian government recently launched an ambitious investment programme in new
energy, both domestically and overseas, of which the investment in the Leclanché
and Deltro Project forms a part. The domestic plans are driven by the
government's target of increasing the contribution of renewables to the
country's energy supply. As part of this, the government has mandated that by
2030 all vehicles on its roads will be electric - the most aggressive such
target in the world. Battery storage helps stabilise grids, which is a challenge
as they become increasingly dependent on intermittent renewable energy sources.
Storage also reduces the operational costs of grids and defers and reduces
future infrastructure costs.

Integral to its global programme, in May 2017, the Indian government announced
that it would invest £155 million in clean energy initiatives in the UK's public
and private sectors through EPAL. To date, EPAL's UK initiatives include an
affordable LED lighting scheme (UJALA), targeted at social housing associations
in London, and the acquisition of two energy savings companies serving seven
clients in education and leisure.

The global energy storage markets continue to experience very high growth.
According to Navigant Research, in the four years to 2020 utility-scale
generation and micro grids will experience a Combined Annual Growth Rate (CAGR)
of 48 per cent; commercial and industrial battery systems, 58 per cent CAGR; and
eTransport, 37 per cent CAGR.

Panitek Power AG, headquartered in Switzerland, was the investment adviser on
the transaction.

* * * * *

About EPAL

EESL EnergyPro Assets Limited (EPAL) is a joint venture of Energy Efficiency
Services Limited, an Energy Service Company under the Ministry of Power,
Government of India, and EnergyPro Ltd, an advisory company in energy
efficiency.

EESL is promoted by four large public-sector undertakings with a combined net
worth of over $32 billion. EESL is implementing the world's largest non-subsidy
energy efficiency portfolio across areas including lighting, buildings and
agriculture, at a unique scale. In the UK, through its subsidiary EPAL, EESL
aims to promote and implement low-carbon, energy efficiency and renewable energy
solutions in both the public and private sectors.

About Leclanché

Leclanché is one of the world's leading fully vertically integrated energy
storage solution providers. It delivers a wide range of energy storage solutions
for homes, small offices, large industries, electricity grids, as well as
hybridization for mass transport systems such as bus fleets and ferries.
Established in 1909, Leclanché has been a trusted provider of battery energy
storage solutions for over 100 years. Founded in the tradition of Georges
Leclanché, the inventor of the dry cell battery, Leclanché today has a rich
portfolio of Battery Energy Storage Systems (BESS) that include bespoke battery
systems from industry leading lithium-ion solutions.

Leclanché is listed on the Swiss stock exchange, and is the only listed
pure-play energy storage company in the world.

SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9

About Deltro Energy

Deltro Energy Inc. is a member of The Deltro Group of Companies which strives to
empower communities through the provision of reliable electricity. Providing
turnkey solutions that are scalable, practical, deployable and commercially
feasible makes Deltro Energy Inc. a leading energy storage solution developer in
Canada. With momentous global growth in the renewable energy industry, Deltro
quickly expanded from completing subcontract installations through major
Canadian construction contractors to partnering on renewable projects and
entering into its own Power Purchase Agreements. While solidifying its position
here in Canada, Deltro has begun its expansion into the Caribbean as well.

Learn more at Deltro.com or connect with us on Twitter @DeltroGroup.

Disclaimer

This press release contains certain forward-looking statements relating to
Leclanché's business, which can be identified by terminology such as
"strategic", "proposes", "to introduce", "will", "planned", "expected",
"commitment", "expects", "set", "preparing", "plans", "estimates", "aims",
"would", "potential", "awaiting", "estimated", "proposal", or similar
expressions, or by expressed or implied discussions regarding the ramp up of
Leclanché's production capacity, potential applications for existing products,
or regarding potential future revenues from any such products, or potential
future sales or earnings of Leclanché or any of its business units.

You should not place undue reliance on these statements. Such forward-looking
statements reflect the current views of Leclanché regarding future events, and
involve known and unknown risks, uncertainties and other factors that may cause
actual results to be materially different from any future results, performance
or achievements expressed or implied by such statements. There can be no
guarantee that Leclanché's products will achieve any particular revenue levels.
Nor can there be any guarantee that Leclanché, or any of the business units,
will achieve any particular financial results.

* * * * *

Europe/Global:
Désirée Maghoo
T: +44 (0) 7775 522740
E-mail:dmaghoo@questorconsulting.com

Simon Barker
T: +44 (0)7866 314331
E-mail:sbarker@questorconsulting.com

US and Canada:
Rick Anderson
T: +1 (718) 986-1596

Henry Feintuch
T: +1 (212) 808-4901
E-mail:leclanche@feintuchpr.com

Investor Contacts
Anil Srivastava / Hubert Angleys
T: +41 (0) 24 424 65 00
E-Mail:invest.leclanche@leclanche.com

# # #[1]Basin 1 is scheduled to undergo completion testing in December 2017 and
Basin 2 will follow with commercial operations in the first quarter 2018.

--------------------------------------------------------------------------------
End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Leclanché SA

          Av. des Sports 42

          1400 Yverdon-les-Bains

          Switzerland

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:   SIX Swiss Exchange



 

End of Announcement EQS Group News Service

--------------------------------------------------------------------------------

626999  08-Nov-2017 CET/CEST