Brief: Hyon Initiates Strategic Review

Knox Energy Solutions AS

05/07/2023 16:01

July 5 (Reuters) - Hyon AS  HYON.OL :
    * ANNOUNCES STRATEGIC REVIEW
    * INITIATED A STRATEGIC REVIEW PROCESS TO EXPLORE STRATEGIC OPTIONS AVAILABLE TO COMPANY.
    * TECHNOLOGY DEVELOPMENT PROCESS IN HYON IS ON SCHEDULE
    * WE OBSERVE A DELAYED DEVELOPMENT AND ADOPTION OF HYDROGEN SOLUTIONS IN GENERAL AND
ESPECIALLY IN
MARITIME MARKET.
    * DELAYS AND CANCELLATIONS IN POTENTIAL CONTRACT AWARDS FOR HYON.
    * TO INVESTIGATE OPPORTUNITIES WITH AIM TO SECURE SHAREHOLDER VALUE AND TO SECURE FUNDING TO
PURSUE COMPANY'S DEVELOPMENT PLANS
    * COMPANY HAS AVAILABLE CASH TO COVER ITS OPERATIONS TO YEAR END 2023.
    * TO EXPLORE STRATEGIC ALTERNATIVES, INCLUDING FINANCING, STRUCTURAL ALTERNATIVES,
GOVERNMENT
SUPPORTED RESEARCH AND DEVELOPMENT PROGRAMS AND OTHER

Source text for Eikon:  ID:nObiS5yWca 
Further company coverage:  HYON.OL 

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