SFC Energy AG plans capital increase of approx. EUR 25 million to fund further growth and increase strategic flexibility

– SFC Energy AG (“SFC”) is a leading provider of stationary and portable hybrid power generating / energy solutions based on the direct methanol fuel cell (“DMFC”) technology.

– To date SFC has sold over 40,000 fuel cells in its four core vertical markets and has successfully established a global methanol distribution network.

– The global market for fuel cells is expected to grow with a CAGR of 20% between 2017 and 2024e^[1] and provides ample attractive growth opportunities for SFC.

– SFC intends to increase its share capital and achieve gross proceeds from the issue of approx. EUR 25 million, which it would use to accelerate organic growth in its current core vertical markets, roll out newly developed hydrogen fuel cell solutions, and finance potential strategic inorganic growth opportunities.

– As part of the capital increase transaction, three of SFC’s largest shareholders HPE PRO Institutional Fund B.V. (HPE), Havensight Capital Ltd. (Havensight) and Conduit Ventures IIA LP (Conduit Ventures), which together hold approx. 41.7% in the SFC’s share capital, have agreed that they will waive their subscription rights and have subjected themselves, at customary conditions, to a lock-up of 180 days, consisting of (i) a so-called hard lock-up agreement for a period of 90 days, which shall not be waived by the Joint Global Coordinators; and (ii) a so-called soft lock-up agreement for a further period of 90 days which may be waived by the Joint Global Coordinators.

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