05.06.2018 – 07:06

Leclanché SA

EQS-Adhoc: Leclanché SA: Leclanché secures funding of CHF 75 million, and an additional CHF 50 million facility to finance acquisitions and joint ventures in the fast-growing e-Transport and stationary grid-based storage markets

EQS Group-Ad-hoc: Leclanché SA / Key word(s): Funds/Investment
Leclanché SA: Leclanché secures funding of CHF 75 million, and an additional CHF
50 million facility to finance acquisitions and joint ventures in the
fast-growing e-Transport and stationary grid-based storage markets

05-Jun-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

--------------------------------------------------------------------------------
Leclanché secures funding of CHF 75 million, and an additional CHF 50 million
facility to finance acquisitions and joint ventures in the fast-growing
e-Transport and stationary grid-based storage markets.

- FEFAM[1]increases its investment by a further CHF20 million to a total of
CHF75 million.

- FEFAM extends a new conditional CHF 50 million facility to finance
acquisitions and joint ventures.

- Leclanché is in the process of acquiring an Energy Management Software Suite
from a company in the USA.

- Leclanché is in advanced stage of agreement to set up a Joint Venture in
India.

- Investment term-sheet with a new strategic investor to further increase the
corporate funding.


YVERDON LES BAINS, Switzerland, 5 June 2018:Leclanché SA (SIX: LECN), one of the
world's leading energy storage solution companies, today announces that it has
secured new additional funding from FEFAM, Leclanché's largest shareholder.

The new funding follows Leclanché's full year 2017 results announcement on 3 May
2018 that the Company is expected to be EBITDA positive by 2020, supported by an
order book of over 50 MWh, contributing CHF 40-50 million of revenue in 2018,
and a milestone of 100MWh of energy storage systems in operation by 2018.

In addition to the CHF 75 million committed corporate funding, FEFAM has agreed
to provide a conditional CHF 50 million funding facility for acquisitions and
joint ventures. The facility shall operate on the basis of a
Right-of-First-Offer ("ROFO") for FEFAM.

Further, as indicated on March 1, Leclanché confirms that the Company has signed
a non-binding term sheet with a potential strategic investor to increase its
overall corporate funding to between CHF100 million and CHF125 million. We
anticipate that negotiations will be completed, and a final agreement will be
executed by Q4 2018.

Anil Srivastava, CEO of Leclanché, said:"This substantial investment fully funds
our business plan through to 2020 when we expect to be EBITDA positive. We thank
FEFAM for their continued strong investment support. This additional funding
will allow us to capitalise on the exciting opportunities we see in the
fast-growing markets of stationary grid-based storage and e-Transport worldwide.

The opportunity for Leclanché is now. We have a strong order book and pipeline,
which reflects our unique opportunity in these unprecedented times for the
electricity and transport industries.

We aim to use the acquisitions and joint-ventures facility to accelerate
Leclanché's technology leadership through margin accretive acquisition(s); and
grow market share in Europe, Asia and North American in both the stationary
grid-based storage and e-Transport businesses.

We are in the process of completing the acquisition of a leading Energy
Management Software solution from a company based in the USA. We are also in the
advanced stage of completing an agreement to set up a joint venture with a
market leader in India. This JV will give Leclanché a strong foothold in one of
the potentially largest Electric Vehicles market in the world. We look forward
to updating the market in the near future.

Leclanché has never been in a better position to meet the needs of both the
disruptors and the incumbents who are changing the way that we produce,
distribute and consume electricity and how we transport people and products, as
we move towards a clean energy future."

 

* * * * *

About Leclanché
Headquartered in Switzerland, Leclanché SA is a leading provider of high quality
energy storage solutions designed to accelerate our progress towards a clean
energy future.

Leclanché's history and heritage is rooted in over 100 years of battery and
energy storage innovation and the Company is a trusted provider of energy
storage solutions globally. This coupled with the Company's culture of German
engineering and Swiss precision and quality, continues to make Leclanché the
partner of choice for both disruptors, established companies and governments who
are pioneering positive changes in how energy is produced, distributed and
consumed around the world.

The energy transition is being driven primarily by changes in the management of
our electricity networks and the electrification of transport, and these two end
markets form the backbone of our strategy and business model. Leclanché is at
the heart of the convergence of the electrification of transport and the changes
in the distribution network. Leclanché is the only listed pure play energy
storage company in the world, organised along three business units: stationary
storage solutions, etransport solutions and specialty batteries systems.
Leclanché is listed on the Swiss Stock Exchange (SIX:LECN).

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

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.

* * * * *

Contacts

Media contacts:

Europe/global:
Desirée Maghoo
T: +44 (0) 7775522740
E-mail:  dmaghoo@questorconsulting.com

Laure Lagrange
T:+44 (0)7768 698 731
E-mail:llagrange@questorconsulting.com

Switzerland:
Thierry Meyer
T: +41 (0)79 785 35 81
E-mail:tme@dynamicsgroup.ch

Thomas Balmer
T: +41 (0) 79 703 87 28
E-mail:tba@dynamicsgroup.ch

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]FEFAM means: AM INVESTMENT SCA, SICAV-SIF - Liquid Assets Sub-Fund,
together with FINEXIS EQUITY FUND - Renewable Energy Sub-Fund, FINEXIS EQUITY
FUND - Multi Asset Strategy Sub-Fund, FINEXIS EQUITY FUND - E Money Strategies
Sub-Fund (also called Energy Storage Invest) and, all these funds being in
aggregate the main shareholder of Leclanché, hereunder referred to as "FEFAM".

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

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

692261  05-Jun-2018 CET/CEST