ABGSC acted as financial advisor to ZEG Power in connection with the NOK 130m private placement

On 20 March 2020, ZEG Power announced the successful completion of a private placement of ~35.5 million new Series A shares at a subscription price of NOK 3.66, raising gross proceeds of NOK 130m. Existing investors IFE Invest and Stratel are joined by AP Ventures, SPARX Mirai, Nysnø, Nordea Investment Management, Danske Capital, CCB, and CO2 Management.
The proceeds will be used to upscale and commercialise ZEG Power’s zero-emission hydrogen production technology and build the first ZEG-H2 hydrogen production plant at CCB Kollsnes Energy Park. Production of clean hydrogen will start as early as 2022.