Brief: Advait To Invest About NOK 43 Mln In Teco 2030

Teco 2030 ASA

16/04/2024 08:13

April 16 (Reuters) - Teco 2030 ASA  TECO.OL :
    * RAISES NOK 43 MILLION AND ENTERS INTO A BINDING TERM SHEET
TO
PARTNER WITH ADVAIT INFRATECH LIMITED IN INDIA
    * ADVAIT TO INVEST ABOUT NOK 43 MILLION (USD 4 MILLION)
THROUGH
PRIVATE PLACEMENT OF NEW SHARES IN TECO 2030
    * PARTIES INTEND TO ESTABLISH A JOINT VENTURE IN INDIA
    * ADVAIT AND TECO 2030 WILL HOLD 51% AND 49% IN JV
    * JV TO HOLD EXCLUSIVE RIGHTS TO DEVELOP, MANUFACTURE,
COMMERCIALIZE TECO 2030 FUEL CELL TECHNOLOGY FOR INDIA

Source text for Eikon:  ID:nObiDCBNZa 
Further company coverage:  TECO.OL 

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