Enapter secures EUR 25m in financing for 2023

German electrolyser manufacturer Enapter AG (FRA:H2O) has secured financing of EUR 25 million (USD 26.72m) from a private debt fund of Switzerland-based Patrimonium Asset Management AG, which is enough to meet the group's financing needs for 2023.

The fresh capital is provided by Patrimonium Middle Market Debt Fund in the form of a bearer bond with a term of two years, Enapter said on Friday.

The Berlin-based manufacturer noted that it expects to book a loss before interest, tax, depreciation and amortisation in the range of EUR 10 million to EUR 11 million in 2023 as a result of the costs of financing.

More details about the terms of the financing were not disclosed.

As announced in January, Enapter raised its revenues for the 2022 financial year by 75% to around EUR 14.7 million, according to preliminary calculations. For 2023, the company expects its revenues to double to around EUR 30 million.

The company is now building a factory in the federal state of North Rhine-Westphalia where it plans to eventually produce 10,000 Anion Exchange Membrane (AEM) electrolysers a month.

(EUR 1 = USD 1.069)

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