Institutional lender extends additional credit / New website launched
Zug/Switzerland - May 27, 2019 – An institutional lender that provided $14 million financing in fall 2018 to battery producer iQ International AG (ISIN CH0451424300 / WKN A2PAA5 / Symbol IQL), has indicated confidence in the Company by extending an additional $1.5 million USD financing for working capital. During this same period, an existing iQ International AG shareholder has invested an additional $500,000 in equity, resulting in total recent investments to the Company of $2 million (Debt and Equity).
Beyond that, the Company has just launched a new website (www.iqint.com). It provides information for clients, shareholders and the interested public. The website highlights our technology innovations, the environmental benefits of our products and the global expansion strategy of our Advanced Battery Factories. We believe that this expansion strategy will establish a solid foundation for the Company’s growth for years into the future.”, says Kevin T. Loman, CEO of iQ International AG.
About iQ International AG
iQ International AG is listed on the Berlin Stock Exchange Open Market segment and is a Sustainable Technologies Company that manufactures and distributes highly efficient lead acid batteries mainly for the global automotive and storage markets. Its award-winning innovative technology is used to create superior long-lasting OEM approved Starting-Lighting-Ignition (SLI) batteries. Batteries with iQ International AG technologies are designed to generate better performance in today’s highly electrified vehicles, particularly vehicles with Start-Stop applications. The circular 360o MixingTM technology is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and became a first prize winner of the GreenTec Awards in 2017. For more information, visit www.iqint.com.