Leclanché secures $21.3 million credit facility | photon.info

Swiss battery producer Leclanché SA has secured a 20 million CHF ($21.3 million) credit facility from Switzerland-based ACE & Company. The Swiss company has agreed to acquire Leclanché’s currently outstanding convertible loans with Danish investment company Recharge A/S, which amount to 10 million CHF. Furthermore, ACE & Company has agreed to provide Leclanché with an additional 10 million CHF. 30, 2017, has an annual interest rate of 8% and is convertible into new Leclanché shares. The company said that the new funds will support its 53 MWh grid ancillary services project for IESO Ontario.