Everfuel raises approximately EUR 25 million through directed share issue
Kromann Reumert has assisted Everfuel with directed issue of 8,279,960 new shares, yielding gross proceeds to the company of approx. EUR 25 million. On 9 March Everfuel announced the launch of a private placement to raise gross proceeds of the NOK equivalent of EUR 20 - 30 million by the issuance of new shares. The subscription price was set by the company's board of directors on the basis of an accelerated bookbuilding process.
The net proceeds from the private placement will be used primarily towards Everfuel's upstream activities, hereunder:
(i) partly funding the company’s equity contribution for investments in Agder Hydrogen Hub in Kristiansand, 20 MW electrolyser, expected FID in summer 2023 (project to be transferred to the joint venture between the company and Hy24 (the “JV”) which Kromann Reumert also assisted with);
(ii) partly funding the Company’s equity contribution for investments in HySynergy Phase II Project, the first 100MW electrolyser, expected FID late 2023 (project to be transferred to the JV);
(iii) pursuing and partially funding further R&D, technical development, potential non-organic growth opportunities, continued scale-up of organisation; and (iv) general corporate purposes.
Kromann Reumert has assisted Everfuel in connection with the accelerated book-building. Nordea Bank Abp, filial i Norge and Sparebank 1 Markets AS were acting as managers for the private placement.
About Everfuel
Everfuel is making green hydrogen for zero emission industry and mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply and fuelling solutions. Everfuel owns and operates green hydrogen infrastructure and partners with industry and vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts.
Green hydrogen is a 100% clean energy carrier made from renewable solar and wind power and key to decarbonising industry and transportation in Europe. Everfuel is an ambitious, rapidly growing company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.
Contact
