During the second quarter, Cell Impact continued to make progress on customer projects, strengthen customer relationships and prepare the company's operations for the upcoming volume production. In parallel, Cell Impact was impacted by long lead times and delayed investment decisions, which continued to dominate the hydrogen market.
During the first half of the year, Cell Impact worked on a major transaction involving the sale of a large number of machines. The transaction was in the final stage of negotiations but was temporarily put on hold due to developments in the customer's project.
"The delay was one important reason for the financing measures we implemented during the quarter. We decided to conduct a rights issue of approximately SEK 53.6 million, before issue costs and repayment of bridge loans," said Daniel Vallin, CEO of Cell Impact.
Cell Impact's ambition remains unchanged: to create the necessary conditions to secure and deliver the major orders the company believes lie ahead, and to continue strengthening the position as a leading supplier of cost-efficient flow plates and related production solutions.
"By building up our expertise, processes and capacity, we have created a platform that is ready to handle increased volumes as customers take the next step in their projects. We are continuing to move forward, step by step, focusing on customer relationships, cost control and business activities that generate sales, cash flow and long-term value," Daniel Vallin concluded.
Financial summary:
This information is inside information that Cell Impact AB is obliged to make public pursuant to the EU Market Abuse Regulation.