Recharge A/S is one of the two investors to convert its entire loan facilities into shares of Leclanché SA. According to a Leclanché statement, Recharge finalised its conversion of the entire CHF 27.2 million convertible loan. The other investor Bruellan converted its CHF 1.2 million mandatory convertible note.
Scott Macaw, director of Recharge, said that his company is very pleased with the fast growth development at Leclanché and its ability to win and deliver large-scale energy storage projects on a turnkey basis: “We are very confident the company is successfully executing its growth plan.”
Jean-Paul Tissières, a partner at Bruellan, also commented on Leclanché’s recent successes and fast growth, adding that they prove “Leclanché’s ability to secure, manufacture and deliver commercial projects worldwide”.
Leclanché CEO Anil Srivastava thanked the two investors for their strong support in the past, which “positioned Leclanché into one of the global leading players in the energy storage fast growing markets”.