The order from Independent Electricity System Operators (IESO) in Ontario, Canada is part of a major USD 45 million (CHF 43 million) project previously announced by Leclanché. The order represents Leclanché’s first major project in North America, where it is positioning itself to become a leader in the fast-growing storage market, writes Leclanché in a press release.
The CHF 27.9-million purchase order represents a 53 per cent increase to Leclanché’s turnover in 2015 and demonstrates the global competitiveness of the Swiss company, says CEO Anil Srivastava.
Leclanché also received a CHF 5.8 million revolver credit insurance policy from Swiss Export Risk Insurance (SERV). This provides additional working capital to the company, which will have a positive impact on its growth cash needs.
In 2017, Leclanché plans to deliver between 150 megawatt hours and 200 megawatt hours of industrial grade energy storage systems. These efforts will put the company “on the path to delivering sustainable profit growth".