GES: 6mln capital increase for the new hydrogen battery
The 6mln euros capital increase of GES is now officially opened, an opportunity for current shareholders and third-party investors to support this further step in the growth of the company.
The storage market is showing an exponential growth and GES addresses it with a breakthrough technology: the new hydrogen battery. Based on patents filed in 2021, this innovative solution does not only offer advanced performances, but it is also greener, safer and less expensive than the previous technology and the competing ones. Thanks to this capital increase, combined with the IPCEI contribution approved by the European Commission for 60mln euros, GES will accelerate the investment plan in order to complete the development of the product and prepare the go-to-market phase.
The capital increase, with a pre-money value of € 40mln opened until July 2022, will be related to a 13% share of the registered capital and will be open to existing shareholders during the pre-emption phase, after which the remaining unassigned shares may be subject to investment by third-party investors according to the expressions of interest received and subsequent negotiations.
In case you wish to receive additional information or express your interest in the capital increase, you can contact the company at this link. We remind the shareholders that the reference documents are available on the dedicated shareholders’ area at this link.