on ENERTIME (EPA:ALENE)
ENERTIME consolidates its financing for 2024 and 2025
ENERTIME, a French Cleantech player, announces that it has secured a series of financing to support its projects until 2025. After a successful capital increase bringing €3.7 million in February 2024, the company plans to obtain around €4.75 M€ in 2024 and 1.75 M€ in 2025. These funds will come from the pre-financing of European grants, innovation loans and a tranche of Energy Saving Certificates (EEC), in addition to repayable bonds.
The sources of these contributions include a pre-assembly of €1.9 million on the European Décagone project and ongoing discussions to pre-finance subsidies on other major initiatives of the company. ENERTIME also has €3.6 million in equity and quasi-equity, and cash of €5.0 million at the beginning of May 2024, thus ensuring adequate financial coverage for its future operations.
The company also plans to finalize these financings by July 2024 and will publish its 2023 financial report at the end of May 2024, thus consolidating its financial strategy to accelerate its ongoing projects and ensure the smooth running of new orders.
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