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Leclanché SA / Key word(s): Agreement/Partnership
Leclanché SA Signs Key Partnership Agreement with Pinnacle International Capital to Secure Expansion Funding
27-Jun-2024 / 06:55 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR


Leclanché Signs Key Partnership Agreement with Pinnacle International Capital to Secure Expansion Funding

. Pinnacle International Capital will fund the capacity expansion and the OPEX of Leclanché under the
business plan for the next five years through the joint venture for an anticipated amount of CHF 360 million
subject to due diligence and final engineering review
. The partnership will see the creation of a 50-50 joint venture, with two 2 GWh facilities being built
both in Europe and the Middle East
. Pinnacle International Capital may acquire up to 70% of Leclanché through a contribution in kind and an
option arrangement with Leclanché's majority shareholder, SEF-LUX
. The agreement is subject to the successful completion of a standard due diligence by Pinnacle and an
exemption from the Swiss Takeover Board Strategic Joint Venture to enhance global production capacities
Yverdon-les-Bains, Switzerland, June 27, 2024 - Leclanché SA (SIX: LECN), a global leader in energy storage solutions,
has entered into a binding agreement with Pinnacle International Capital, a global private equity firm based in London,
United Kingdom. This agreement establishes the creation of a joint venture and a significant participation in the
company, subject to the completion of a standard due diligence.
Under the terms of the agreement, Pinnacle and Leclanché will establish a joint venture company funded by Pinnacle for
an amount of up to CHF 360 million and Leclanché will take a 50% stake in the joint venture company through a
contribution in kind, giving Pinnacle approximately 40% stake in Leclanché. The CHF 360 million will be subject to the
outcome of the engineering review and the due diligence during which the final exact amount will be determined.
Pinnacle will outline the financial deployment structure during the engineering review. Pinnacle will be granted a
further option to acquire 30% additional stake in Leclanché through an agreement with SEF Lux^[1] in the amount of up
to CHF 240 million, the exact amount and percentage will be determined during the course of the due diligence. The
partnership will be establishing two 2 GWh facilities: one in Europe at the company's existing facilities in Germany
and one in the Middle East, designed to cater to regional battery markets.
Once implemented, this transaction will fully fund Leclanché's business plan and expand its operations. With the
growing demand for Leclanché storage solutions, this partnership will provide a solid basis for the business to
accelerate its growth.

Mr. Pierre Blanc, CEO of Leclanché, stated: "This partnership with Pinnacle is a pivotal step for Leclanché, providing
the necessary resources and strategic positioning to expand our footprint in Europe and the Middle East. The new
facilities will significantly increase our production capabilities and allow us to better serve our customers. We look
forward to building the business with Pinnacle alongside our existing shareholders. It has been very important for us
to bring on board a new partner that helps the company reach its full potential and allows us the production scale
required for profitability."
Mr. Saud Al Aiban, Founder and Managing Director of Pinnacle International Capital stated: " We are delighted to
announce the signing of this partnership with Leclanché SA. We firmly believe in Leclanché's exceptional potential to
lead the green energy transition. This collaboration underscores Pinnacle's commitment to advancing renewable energy
solutions and driving environmental progress. We look forward to starting our due diligence process and working towards
finalising this partnership and contribute significantly to the global green energy transformation".
The joint venture factories operations will be managed by Leclanché's management team under a management agreement.
This strategic collaboration will enhance Leclanché's manufacturing capacity and address the growing demands of both
European and Middle Eastern markets.
Leclanche expects implementation of this partnership agreement to take six to nine months and will keep shareholders
informed about important steps in the process.
For more information, please contact info@leclanche.com or visit www.leclanche.com
***
About Leclanché

Leclanché is a world leading provider of low-carbon footprint energy storage solutions based on lithium-ion cell
technology. Established in 1909 in Yverdon-les-Bains, Switzerland, Leclanché's history and heritage is rooted in
battery and energy storage innovation. The company's Swiss culture for precision and quality, together with its
production facilities in Germany, make Leclanché the partner of choice for companies seeking the very best in battery
performance and who are pioneering positive changes in how energy is produced, distributed and consumed around the
world. Leclanché is organised into three business units: energy storage solutions, e-Mobility solutions and specialty
battery systems. The company currently employs over 350 people with representative offices in eight countries around
the world. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN). SIX Swiss Exchange: ticker symbol LECN | ISIN
CH 011 030 311 9

About Pinnacle International Capital

Pinnacle International Capital is a global private equity firm specialising in real estate developments and buyout
investments. Pinnacle works across the globe in developed and emerging markets and in a variety of sectors including
energy, technology, and real estate. Pinnacle is committed to achieving long-term sustainable growth in its
investments, with a well-established team possessing vast investment expertise and a proven track record of identifying
and capitalising on investment opportunities. Pinnacle focuses on investments that drive innovation and growth in
sectors essential to the green energy transition, fostering a sustainable future.

Disclaimer

This press release contains certain forward-looking statements relating to Leclanché's business, which can be
identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment",
"expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal",
or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production
capacity, potential applications for existing products, or regarding potential future revenues from any such products,
or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on
these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and
involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially
different from any future results, performance or achievements expressed or implied by such statements. There can be no
guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that
Leclanché, or any of the business units, will achieve any particular financial results.


Contacts

Media Switzerland /Europe:              Media Germany: 
Thierry Meyer                           Christoph Miller 
T: +41 (0) 79 785 35 81                 T: +49 (0) 711 947 670 
E-mail: tme@dynamicsgroup.ch            E-mail: leclanche@sympra.de 

Investor Contacts:
Pasquale Foglia / Pierre Blanc
T: +41 (0) 24 424 65 00
E-Mail: invest.leclanche@leclanche.com


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^[1] SEF-LUX refers to: Strategic Equity Fund; Strategic Equity Fund SCA SICAV RAIF - Renewable Energy (RE), AM Investment S.C.A. SICAV-RAIF and AM Investment S.C.A. SICAV - RAIF - Global Growth collectively and in aggregate the main shareholder of Leclanché SA and referred to as "SEF-Lux"

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End of Inside Information

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Language:     English 
Company:      Leclanché SA 

Av. des Sports 42
1400 Yverdon-les-Bains
Switzerland

Phone:        +41 (24) 424 65-00 
Fax:          +41 (24) 424 65-20 
E-mail:       investors@leclanche.com 
Internet:     www.leclanche.com 
ISIN:         CH0110303119, CH0016271550 
Valor:        A1CUUB, 812950 
Listed:       SIX Swiss Exchange 
EQS News ID:  1934173 

End of Announcement EQS News Service
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1934173 27-Jun-2024 CET/CEST

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END) Dow Jones Newswires

June 27, 2024 00:55 ET (04:55 GMT)