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Saga Pure ASA: To invest NOK 75 million in Heimdall Power
Saga Pure has entered into agreement to invest NOK 75 million in Heimdall Power. Saga Pure will also hold a position on the Board of Directors.
Heimdall Power makes the power grid smarter by installing neurons; intelligent sensors on high-voltage lines, and providing insight for improved operations, better utilisation and reduced need for investments. The key highlights for the company include:
"The investment from Saga Pure and their participation in the Board of Directors, as well as the continued support form existing shareholders, will enable us to realize the high ambitions of our company. The market potential is global, and the Green Shift is dependent on an optimized, digitized and robust grid," says Brage W. Johansen , Chief Executive Officer of Heimdall Power.
Heimdall Power will use capital from the private placement to implement the Heimdall Power growth strategy towards 2025 as the company expects significant growth and expansion.
The completion of the transaction is subject to all necessary corporate resolutions being validly made by Heimdall Power, including approval of an extraordinary general meeting to be held on or about end of March 2021 .
Bjørn Simonsen, CEO, Saga Pure , +47 971 79 821
Espen Lundaas, CFO, Saga Pure , +47 924 31 417
Brage W. Johansen , CEO, Heimdall Power, +47 91 18 11 29
About Saga Pure ASA | www.saga-pure.com
Saga Pure is an investment company focusing on opportunities within renewable energy, hydrogen, circular economy and CO -reductions.
Heimdall Power digitizes the grid by installing power neurons on high-voltage lines and providing insight for improved operations.
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https://news.cision.com/saga-pure-asa/r/saga-pure-asa--to-invest-nok-75-million-in-heimdall-power,c3312082