Leclanché Signs Framework Agreement with Pinnacle International Capital to Secure Expansion Funding

Leclanché SA, a Swiss energy storage solutions provider, has signed a framework agreement with Pinnacle International Capital to secure expansion funding. The agreement, subject to the completion of due diligence, outlines a joint venture structure to fund a 2GWh battery plant in Germany and a 2GWh operation in the Middle East.

The CHF 360 million investment will be finalized following an engineering review. Under the agreement, Pinnacle will finance the joint venture, with Leclanché contributing in kind, earning Pinnacle a 40% stake in Leclanché.

Pinnacle is granted an option to acquire an additional 30% stake through an agreement with SEF Lux, amounting up to CHF 240 million, contingent on due diligence outcomes. This partnership aims to fund Leclanché's business expansion fully, catering to rising demand for its storage solutions.

Lex Bentner, Chairman of Leclanché, stated that the agreement solidifies the partnership, providing necessary resources to expand in Europe and the Middle East, significantly enhancing production capabilities.