Investments totaling CHF64 million ($65 million) will allow Swiss lithium-ion battery maker Leclancé to triple its manufacturing capacity at its German plant.
The funds— one for CHF 39 million ($40 million) and one for CHF 25 million ($25 million)— will allow the company to triple the volume of cells that it manufactures in Germany to three million cells and to fund the delivery of the company’s order book.
The largest deal with US-based Yorkville Advisors Global, is for an unsecured US dollars convertible loan facility with a maximum ceiling of USD 40 million (apround CHF 39 million).
The first tranche of the loan facility is CHF 2.9 million ($3 million) which has already been expended. Additional drawdowns are expected to be in the amount of CHF 1.4 million ($1.4 million) or an amount determined by both Leclanché and Yorkville Advisors.
The second investment of CHF25 million by FEFAM, its largest shareholder.