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04 Aug 2017, Investors

SFC Energy AG: EUR 5 million capital measure lowers financing cost and strengthens liquidity

The Management Board of SFC Energy AG with approval of its Supervisory Board, has agreed on a financing concept with Harbert European Growth Capital Fund II (“Harbert”) comprising the issuance of a secured fixed rate bond (Schuldverschreibung) with a nominal amount of EUR 4,997,500.00, the provision of collateral and the issuance of an option bond.

Brunnthal/Munich, August 4, 2017 – The Management Board of SFC Energy AG (ISIN: DE0007568578), a leading provider of hybrid power solutions to the stationary and mobile power generation markets, with approval of its Supervisory Board, has agreed on a financing concept with Harbert European Growth Capital Fund II (“Harbert”) comprising the issuance of a secured fixed rate bond (Schuldverschreibung) with a nominal amount of EUR 4,997,500.00, the provision of collateral and the issuance of an option bond. The Company receives gross proceeds in the amount of EUR 5.0 million. The cash inflow from the capital measure is intended to be used for the repayment of loans, to further strengthen the liquidity base and the international roll out of the business.

The secured fixed rate bond has a nominal amount of EUR 4,997,500.00 and shall amortize on a straight line basis with a final maturity date of December 31, 2018. The option bond was issued to Harbert on the basis of the resolution of the ordinary general meeting of the Company of June 14, 2016, by way of private placement under exclusion of the shareholders’ subscription rights.

The option bond has a nominal amount of EUR 2,500.00, a term until 2022, and shall bear interest on their principal amount at the rate of 4.0% per annum. The issue price was set at 100% of the nominal value. The option bond has attached to it option rights granting the right to acquire 204.700 no-par-value bearer shares of the Company each with a notional amount of EUR 1.00 in the share capital at an option price of EUR 3.6639.

Dr. Peter Podesser, CEO of SFC Energy AG, explains the strategic importance of the agreement with Harbert: "Harbert is a strong partner with a convincing long-term strategy, we are delighted to have them onboard. With this capital measure and the repayment of a higher interest loan we are reducing our finance costs, while at the same time improving our liquidity. This will help us primarily to further drive the development of our industry and defense business, especially in the U.S. and Canada."

"SFC Energy is the first investment from our new fund and is a great example of a European technology business with global growth ambitions. We see significant growth potential in sustainable energies, and in the defense and security sector", says David Bateman, Senior Managing Director of Harbert European Growth Capital Fund. "We have been following SFC Energy and their business model for quite some time, and are delighted to be chosen as a value-added partner with the expertise to provide long term capital that was as innovative as the business."

About SFC Energy Group

SFC Energy AG (www.sfc.com) is a leading provider of hydrogen and direct methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 50,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich, Germany, operates production facilities in the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857 ISIN: DE0007568578).

About Harbert European Growth Capital („HEGC“)

HEGC is sponsored by Harbert Management Corporation (“HMC”), and provides flexible, long term and permanent debt capital for technology and life sciences companies across Europe. HEGC has the ability to support businesses with follow-on reserves and a global network of commercial and investor relationships.

About Harbert Management Corporation („HMC“)

HMC, an alternative asset management firm with approximately USD 5.1 billion in Regulatory Assets Under Management as of July 31, 2017, is a privately-owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices and high net worth individuals across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, European and U.S. growth capital, mezzanine debt, independent power and public securities. Additional information about HMC can be found at www.harbert.net.

IR Contact

Susan Hoffmeister
Tel. +49 89 125 09 03-33
Email: [email protected]
Web: sfc.com

Harbert European Growth Capital

44 Davies Street
London
W1K 5JA
United Kingdom
Tel. +44 207 408 4120
Email: [email protected]