(Boursier.com) — DRONE VOLT specifies the new dates concerning the share exchange operation with PRAGMA INDUSTRIES following the creation of a joint venture by the two companies with the aim of creating drones capable of fly long distances with H2 fuel cells.
On April 28, 2022, DRONE VOLT announced a timetable for carrying out several capital increases1 as part of the creation of this joint venture. For technical reasons, these operations could not take place in time.
Thus, DRONE VOLT specifies a new calendar whose deadlines are as follows: June 14, 2022, June 27, 2022, July 15, 2022, September 30, 2022, October 28, 2022 and November 30, 2022 and December 31, 2022.
As an extension of this agreement, DRONE VOLT should ultimately hold approximately 10% of the capital of PRAGMA INDUSTRIES and that the latter should launch an IPO process on Euronext Growth in the coming months.
As a reminder, DRONE VOLT and PRAGMA INDUSTRIES will create a joint venture which will aim to offer all manufacturers of fixed or rotary wing drones hydrogen engines which, thanks to the fuel cell, make it possible to transform the hydrogen into electricity. The first calculations indicate that these technologies should make it possible to double the autonomy of drones operating on a single battery.
Next press release: H1 2022 revenue, Wednesday July 13, 2022.
©2022 Boursier.com