Boostheat only has 1.6 million euros in cash left

The situation is getting “hot” for Boostheat. In a brief press release, the Lyon-based manufacturer of individual boilers reports having only 1.6 million euros in cash at the end of June, against 3.5 million euros a year earlier. ” Drawings on the equity financing line set up in May 2021 with Iris Capital have made it possible to raise 1 million euros since the start of the 2022 financial year. However, for the past few weeks, market conditions have severely limited the additional usage capacity “, Laments the company, which ended the 2021 financial year with a net loss of 11.7 million euros, almost three times the amount of operating income. Consequently, Boostheat has embarked on the search for industrial, commercial and financial partners to help continue its development. On the stock market, investors are massively abandoning the title: it has fallen by 74% since 1^er January, at 22 cents.