Green Hydrogen Systems Secures Short-Term Credit to Ensure Operations
Key Ideas
  • Green Hydrogen Systems completes a share capital reduction to prepare for raising new capital.
  • The company collaborates with major shareholders and lenders to address its capital requirements.
  • APM Holding and Danish pension fund ATP provide a short-term credit of DKK 80m to support operations until March 2023.
  • The credit agreement, expiring in June 2025, aims to bolster the company's financial stability.
Green Hydrogen Systems recently concluded a share capital reduction as a strategic move to facilitate the forthcoming capital fundraising initiative. Following this development, the company engaged with its prominent shareholders and existing lenders to navigate its financial needs effectively. In a bid to ensure the continuous operation of Green Hydrogen Systems up to at least March of the upcoming year, key stakeholders, including APM Holding and Danish statutory pension fund ATP, have extended a short-term credit facility amounting to DKK 80 million. This financial support, which equates to approximately EUR 1 million, stands as a collaborative effort between major shareholders and selected lenders of the company. The credit agreement, set to expire in June 2025, is pivotal in sustaining the operational continuity of Green Hydrogen Systems and fortifying its financial position amidst current market conditions. The company's proactive approach in securing this credit underscored a positive outlook towards its future prospects and operational resilience.
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