Since inception in 2015, Greenstat has developed and matured an attractive portfolio of green energy projects. This includes three 20 MW hydrogen projects in Norway which are approaching final investment decision (FID), 49% ownership of a 45 MWp solar plant in Bosnia and Herzegovina with planned commissioning during the third quarter of 2023, and several wind and solar power developments.
We are rapidly scaling our hydrogen position in Norway, with the first pilot project in production and major production facilities nearing FID, as well as selectively maturing projects internationally led by hydrogen projects in India and Sri Lanka. We are now entering an exciting phase with visibility of positive cash flow within year-end 2027 based on current development plans.
Stord Hydrogen
Petnjik solar power plant
Valsneset Wind Farm
To support the execution of these plans, we are raising up to NOK 29.75 million as bridge financing until long-term funding is in place. We are offering up to 3.5 million new shares in Greenstat ASA, at a subscription price of NOK 8.50 per share. This is the same subscription price as in the equity raise earlier this year.
The capital raise, combined with implemented cost reductions and a potential divestment of Greenstation, position Greenstat to follow up investments to maintain ownership positions in core assets, mature the core asset portfolio and prepare for upcoming FIDs, and cover operational expenses including costs related to securing a long-term funding solution and IPO preparation activities. As communicated at the annual general meeting in June, the planned IPO has been postponed due to the current financial market situation.
For more information on the transaction, please see the investor presentation and relevant documentation.
Join us in Making Green Happen!
Condensed investor presentation
Investor presentation
Term sheet
Electronic subscription VPS
Application agreement (subscription form)
Electronic subscription
If you wish to receive information about upcoming issuings of shares, you can register details in our registration form.
