Minesto's CEO comments on the ongoing Rights Issue and the commercial agenda
CEO comment:
We are now conducting a Rights Issue to strengthen
The Rights Issue is guaranteed to approximately 83%, which gives us with the opportunity to focus on business development and secure delivery capabilities for both site projects and power plants.
We at
The energy industry and exploration of new natural resources for energy production entail long lead times and the need for significant early market investments.
The fact that we have now realized and continue to demonstrate the technology on a "megawatt scale" allows for buildout of complete production arrays, something that our commercial partners around the world have been looking forward to. In addition, our ability to technically, operationally, and commercially establish new powerplant projects is established. We have better conditions than ever to achieve our clear goal of securing the first major deals and bringing
We will continue to broaden and enrich collaborations with existing and prospective partners. We are already building investment cases for tidal energy arrays together with local actors in numerous locations around the world, with additional opportunities identified. We are in technical and commercial due diligence processes by utility companies, project developers, and new potential industrial partners; and are now getting industry recognition through invitations into the inner circles where the global energy transition is planned and driven. And it is all coming to fruition now.
Therefore, we now have a fantastic opportunity to convert a capital injection into industrial and commercial values for the company. The expectations of us from owners and other stakeholders to achieve a commercial breakthrough are justifiably high, and it is up to us as a company to live up to it.
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CEO of
Interview (in Swedish) with
Click on audio file attached
Link to full version of today's episode of Aktiepodden, interview (in Swedish) with
172. Därför rasar kredithanteraren - igen och igen - Aktiepodden | Podcast on Spotify
Link to article online at aktiespararna.se (article in Swedish):
Innovativ aktör inom framtidens energiproduktion | Aktiespararna
Link to the Prospectus (in Swedish) on minesto.com
Use of Proceeds, Rights Issue 2024
If the Rights Issue is fully subscribed, the Company will receive a maximum of approximately
Secure and verify production data form the commissioned Dragon 12 to enable sales and project investments – approximately 20 percent.
Continue development and execution of project financing and sales, including identification and verification of new potential production site projects – approximately 20 percent.
Ensure customer delivery capability focusing on product customization, service assets and production development, including the development of installation and maintenance processes – approximately 50 percent.
Financing of customer orders and creation of eligibility for large-scale grant funding from EU and other public investors – approximately 10 percent.
The net proceeds from the warrants covered by the Rights Issue are intended to be distributed as described above.
Contact:
For additional information, please contact
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Press release |
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https://mb.cision.com/Public/14621/3950795/b19b836663f66885.mp3 |
Aktiepodden 22 mars - Intervju med Minestos vd |
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