Enersense specifies the timetable for the implementation of the P2X investment and partnership arrangement

In its release of 8 December 2021, Enersense International Plc (”Enersense”), a provider of zero-emission energy solutions, announced it had signed an agreement on a EUR 13–18 million equity investment in green hydrogen producer P2X Solutions Oy (”P2X”) and related partnership arrangement. The completion of the investment and partnership arrangement was conditional on P2X receiving a significant grant from the Ministry of Economic Affairs and Employment of Finland for the building of the Harjavalta production plant as well as certain other customary preconditions. Enersense announced on 20 December 2021 that the Ministry of Economic Affairs and Employment of Finland had granted approximately EUR 26 million investment aid to P2X.

In its releases of 8 and 20 December 2021, Enersense estimated that the arrangement would be completed by the end of January 2022. As the arrangement has progressed, the timetable has been specified insofar as the other customary preconditions are estimated to be fulfilled by the end of January 2022 with the completion of the arrangement to take place in February 2022. 

The key terms and conditions of the arrangement are described in Enersense’s stock exchange release of 8 December 2021.