Fuel Cell Solution Provider Heliocentris and Japanese trading company expand strategic cooperation
author Added by FuelCellsWorks, February 18, 2016
  • Japanese trading company increases revolving credit facility from USD 5 million to EUR 10 million to support further growth following successful cooperation
  • Intensification of joint sales activities on American continent and procurement services on Japanese market agreed

Berlin -- Heliocentris Energy Solutions AG, which is listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A1MMHE3), has expanded the strategic partnership with its Japanese trading partner. Following the successful cooperation, which started 2015, the current credit facility of USD 5 million is being increased to EUR 10 million with immediate effect. The Japanese partner will take on the procurement of key components such as batteries, diesel generators and solar modules for a larger number of customer projects and will continue to invoice Heliocentris for this with longer payment terms. In effect, this creates a permanent revolving credit facility with a now increased cap of EUR 10 million. Furthermore, the Japanese trading partner will intensify its marketing of Heliocentris energy management system and fuel cell solutions especially in North America. The cooperation on supplier management and technology monitoring in Japan and Korea will also be expanded.

Ayad Abul-Ella, CEO of Heliocentris Energy Solutions AG, commented: "The pre-financing of our customer projects is still a vital key to ensuring our sales growth in the coming year. We are delighted that our partner in Japan has increased its revolving credit facility to EUR 10 million and thereby enables us to finance a larger number of forthcoming customer projects at attractive terms."