Opcon gets USD40m for renewable energy expansion

Wed Apr 6 2011, 09:44 AM

Opcon has secured a SEK250m (USD39.4m) equity line of credit from GEM Investment Advisors and GEM Global Yield Fund. The credit, available over a period of three years, will replace the Swedish firm’s planned issue of a USD40m convertible loan. Opcon develops equipment for areas such as waste heat recovery, waste management, biomass pellet production and engine efficiency. The credit line will be used to help accelerate the expansion of the firm’s renewable energy business area.

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