Climeon Extends Existing Loans from SEK and DNB

Following the rights issue during the spring of 2022, Climeon AB (publ) continues to structure its financing by extending the existing credit agreement with Svensk Exportkredit (SEK) and DNB, with a guarantee from the European Investment Fund (EIF). The extension is another action aimed at completing and commercializing the next generation HeatPower product.

The original loan of EUR 7.5 million was taken in the autumn of 2020 with a term of two years. The remaining loan amount will amount to EUR 4.5 million as of October 2022, and the extension will run for up to 12 months from the original maturity date, subject to certain conditions. The extension of the loan is also associated with conditions that Climeon believes will be met before October 2022.

“The extension of our credit agreement gives us even better conditions for completing and commercializing our new product generation HeatPower 300, in order to offer our customers an attractive solution to reduce their fuel consumption and produce renewable electricity” says Lena Sundquist, CEO of Climeon

SEK, The Swedish Export Credit Corporation, is a state-owned company that finances Swedish export companies, their subcontractors and foreign customers on commercial and sustainable terms.

DNB is one of the leading Nordic players in banking, finance and insurance and a significant player in the financing of renewable energy.

EIF designs, promotes and implements equity and debt financial instruments which specifically target small and medium sized enterprises.