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Hexicon, through its subsidiary Hexicon Holding (Hexicon), has entered into a development financing agreement of up to EUR 45 million with Glennmont Partners (Glennmont).
The loan, totaling up to EUR 45 million, is divided into the following uses: up to EUR 35 million to fund the development of Hexicon’s project pipeline; and up to EUR 10 million for general corporate purposes and fully repaying the outstanding convertible loans. Up to a maximum of EUR 35 million is available to fund the development of the projects TwinHub in the UK, MunmuBaram; a project in South Korea under a JV with Shell, AvenHexicon; a pipeline in Italy under a JV with Avapa Energy and Freja Offshore; and a pipeline in Sweden under a JV with Mainstream Renewable Power, including Mareld Green Energy AB.
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