With a team led by the Frankfurt-based Partner Dr. Günther M. Bredow, Heuking Kühn Lüer Wojtek advised the listed Leclanché S.A. from Switzerland with respect to the entry of the Danish investor Recharge ApS and a corresponding corporate financing in a total value of CHF 21 million.
Leclanché is a manufacturer of industrial energy storage systems for grid applications. The company is specialized for the production of patented titan-lithium-ion battery cells. The company’s battery energy storage systems (BESS) deliver a range of applications for inter alia industrial plants (peak shaving), solar and wind parks and grid operators, but also for home storage. Leclanché furthermore develops mobile energy storage systems for the use e.g. in the transport sector (hybrid buses, trams and ferries) and for industrial machinery. The company employs about 120 employees and is listed on the SIX Swiss Exchange. The company is headquartered in Yverdon-les-Bains (Switzerland) and operates its production in Willstätt (Baden-Württemberg).
The Copenhagen (Denmark) based investor Recharge provides Leclanché working capital and growth capital in several tranches. The majority thereof is provided as loan and includes the right of conversion into Leclanché shares. Recharge furthermore acquired an existing convertible loan from the US investor Oakridge Global Energy Solutions, Inc. and has already converted such loan in part into approx. 10 per cent Leclanché shares.
Heuking Kühn Lüer Wojtek provided Leclanché advice on the structuring, negotiation and implemen-tation of the transaction as to corporate, financing and tax matters under German law.
Heuking Kühn Lüer Wojtek
Dr. Günther M. Bredow (Project Leader, Corporate/M&A),
Christian Staps (Credit Law),
Klaus Weinand-Härer (Tax), all Frankfurt