Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, announced a funding update.

Golden Partner and its affiliates, collectively Leclanché's largest shareholder, have subscribed to an additional CHF 3.5 million in shares in the Company. This is in conjunction with the conversion by our key shareholders Bruellan and Trialford of their respective CHF 1 million and CHF 0.5 million convertible notes into equity.

The Company wishes to sincerely thank these major shareholders and Noteholders for their continued support. Leclanché is working with them to raise the required capital to finance its growth plan, following two successful years of expansion.

Funding options include a rights issue, private placement with institutional shareholders and a dual-listing on a North American exchange. As per Leclanché's announcement on 7th June, exploratory discussions to list in North America, the fastest growing energy storage market in the world, have highlighted that there is significant investor appetite for Leclanché.

While Leclanché continues to work to raise the substantial capital required to deliver its business plan, delivery of these funds could be delayed, risking the Company's planned results. Leclanché will provide a funding status update to shareholders and the market by mid-July. 

In two years, Leclanché has delivered a revenue increase of 250 per cent, and generated an order book of more than 90 MWh in stationary projects. 

On 26th June Leclanché announced a worldwide deal with Skoda Electric in which Leclanché will provide Skoda Electric with battery solutions for its electric bus expansion strategy. In addition to this Leclanché is also in advanced negotiations with an automotive systems integrator for a large volume contract in India for which test units are being shipped shortly.

Leclanché | www.leclanche.com