PRESS RELEASE
from AlzChem Group AG (isin : DE000A0AHT46)
EQS-Adhoc: Alzchem Group AG: Alzchem Group AG receives EUR 34.4 million in EU funding
EQS-Ad-hoc: Alzchem Group AG / Key word(s): Expansion
Alzchem Group AG: Alzchem Group AG receives EUR 34.4 million in EU funding
15-March-2024 / 17:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Trostberg, 15 March 2024 - Following a Europe-wide selection process, Alzchem Group AG has been awarded an investment grant of EUR 34.4 million by the EU Commission as part of the ASAP ("Act in Support of Ammunition Production") funding instrument.
Alzchem Group AG wants to use the funds over an investment period of two and a half years to increase the production capacity of nitroguanidine and to modernize and expand the existing facilities for the production of guanidine nitrate. Guanidine nitrate is a precursor of nitroguanidine, which is used in crop protection, as a propellant for airbags and, increasingly, in defense technology.
Funding for the project was approved in principle and published today by the EU Commission, in consultation with the member states; the final allocation will be made upon conclusion of a corresponding grant agreement, expected to be signed in May 2024.
Alzchem Group AG wants to use the funds over an investment period of two and a half years to increase the production capacity of nitroguanidine and to modernize and expand the existing facilities for the production of guanidine nitrate. Guanidine nitrate is a precursor of nitroguanidine, which is used in crop protection, as a propellant for airbags and, increasingly, in defense technology.
Funding for the project was approved in principle and published today by the EU Commission, in consultation with the member states; the final allocation will be made upon conclusion of a corresponding grant agreement, expected to be signed in May 2024.
End of Inside Information
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| Language: | English |
| Company: | Alzchem Group AG |
| Dr.-Albert-Frank-Str. 32 | |
| 83308 Trostberg | |
| Germany | |
| Phone: | +498621862888 |
| Fax: | +49862186502888 |
| E-mail: | ir@alzchem.com |
| Internet: | www.alzchem.com |
| ISIN: | DE000A2YNT30 |
| WKN: | A2YNT3 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Stuttgart |
| EQS News ID: | 1860225 |
| End of Announcement | EQS News Service |
1860225 15-March-2024 CET/CEST