Svenska Aerogel Holding AB (publ) (the “Company”) today announces that Almi has approved a growth loan of SEK 2.5 million, with the possibility of securing additional financing of up to SEK 7.5 million over the next 14 months.
The loan has a five-year term, with no principal repayments required during the first 12 months.
“Together with the proceeds from the exercise of the TO9 series warrants, this financing will initially strengthen our cash position by an additional SEK 6 million in the fourth quarter. This will put us in a stronger position to continue developing our business alongside our ongoing commercialization activities with customers,” says Tor Einar Norbakk, CEO of Svenska Aerogel.