ENERTIME
(FR0011915339 – ALENE), French “CleanTech” company serving industrial energy efficiency and the production of renewable energy in geothermal energy (the “
Company
), announces the drawing on October 16, 2023 of a tranche of 350 ODIRNANE, for a total gross amount of 350,000 euros.
This drawing is part of the financing of a maximum amount of €2 million set up with the investment fund YA II PN Ltd (the “
Investor
“) on December 9, 2022 which was the subject of a press release (see press release of December 9, 2022)
If all tranches are drawn, this financing would potentially result in an equity contribution of €2 million corresponding to the reimbursement in shares of all the ODIRNANE to be issued. After this drawing, €1.65 million remains, corresponding to 1,650 ODIRNANE which can be drawn in one or more tranches at the sole initiative of the Company.
Gilles David, CEO of ENERTIME, declares: “
The doubling of the company’s turnover observed in the first half of 2023, accelerates in the second half and requires a strengthening of shareholders’ funds to the tune of €0.35 million in parallel with the recent issue of bonds repayable for an amount of €1.38 million. Enertime thus strengthens its capacity to sign new contracts in the coming months.”
Furthermore, the Company announces that the payment of the next monthly maturity of the OCs at a fixed price (see press release of March 16, 2022) (scheduled for November 2, 2023) will be made in shares, it being specified that the reimbursement amount due under the title of this maturity will be 58,090.38 euros.
The issuance of ODIRNANE announced today and the payment in shares of the OCs maturing on November 2, 2023 at a fixed price could give rise to the creation of 452,817 new shares based on the last closing price. The participation of a shareholder holding 1% of the capital to date could thus amount to 0.95%.
The monitoring tables for ODIRNANE and fixed price OCs are available on the Company’s website.
ABOUT ENERTIME
Created in 2008, ENERTIME designs, develops and implements Organic Rankine Cycle (ORC) machines and high temperature heat pumps for industrial energy efficiency and decentralized production of renewable energy. ORC machines transform heat into electricity. Heat Pumps use low temperature heat to produce heat at high temperatures.
ENERTIME is the only player in the world offering ORC machines and a technology portfolio in the field of thermodynamics for the energy transition. For ORC technology, it is one of the four main global players and the only French company to fully master this high-power machine technology (1 MW and more). The Company is qualified as an “innovative company” by Bpifrance and is recognized as a French “Creative Industry”. ENERTIME is listed on the Euronext Growth market (ISIN: FR0011915339 – Ticker: ALENE). More information at https://www.enertime.com
CONTACTS
ENERTIME
Gilles DAVID-CEO Sophie DUGUE-Administrative manager
Such. 01 75 43 15 40 Tel. 01 80 88 75 10
gilles.david (at) enertime.com sophie.dugue (at) enertime.com
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Full and original press release in PDF format:
https://www.actusnews.com/news/82402-23_10_17_cp-enertime-demande-le-tirage-d_une_tranche_dordinane.pdf
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