Bawat Water Technologies

This week, Bawat released its Q1 2023 results, which showed an order intake of SEK 9.3m. The company repeated its full-year 2023 guidance of an order intake in the range of SEK 40-60m.

Today, Bawat released its Q1 2023 result update, which showed an order intake of SEK 9.3m and revenue of SEK 4.2m. 

Late Wednesday, Bawat published its final audited 2022 annual report. In February, Bawat already announced its Q4 report with full-year numbers, implying that financials have been announced to the market. Read the full report here.

On 2 May 2023 , HC Andersen Capital and Inderes hosted a virtual live event focusing on small and midsized GreenTech companies in the Nordics. Despite the lower interest rates, rising CO2 prices, and a lot of political support, the green transition investment theme has overall been one of the sectors with the lowest returns based on share price performance this year.

Today, shortly before the market closed, Bawat announced its final approval from Nefco of a loan agreement and hence the decision to carry out directed share issues. Referring to Bawat’s financing plan communicated on 17 April 2023, the Nefco-financing has received final approval regarding the financing of SEK 25m divided into two tranches. Consequently, Bawat carries out two directed share issues with total proceeds of SEK 18.8m (before transaction costs) at a subscription price of SEK 1.60 per share.

Today, Bawat announced that the company has received subscription commitments for directed share issues of SEK 18.8m to match the first tranche of Nefco-financing and signed final term sheets with Nefco.

Friday after the market closed, Bawat updated on its working capital situation and financing plan. The company estimates that it has sufficient working capital until the end of July 2023, and the financing plan regarding financing from NEFCO and the new share issue is still ongoing. Further information is expected to be announced in the near term.

Bawat and Damen Green Solutions increases their collaboration by establishing a joint venture merging Damens InvaSave program with Bawat technology. The new Joint venture will focus on the construction and marketing of mobile, containerized systems. This agreement comes on top of BAWAT already having an collaboration with Damen to market the ship solutions.