Morphic has entered into an agreement with Alecta and Swed Robur Fonder, regarding a new share issue worth MSEK 130 with the intention of strengthening Morphic’s capital base and increase institutional ownership of the company. This is in addition to the on-going new issuance which an Extraordinary General Meeting will decide upon on February 1.

Morphic has also entered into an agreement with Östersjöstiftelsen (The Foundation for Baltic and East European Studies) entailing that the Foundation guarantees, without additional fees, a MSEK 33 subscription in the impending preferential rights share issue totaling MSEK 112.5 as well as subscribing to the entire new issue totaling three million B shares at a issuance rate of SEK 11. The agreement is contingent on the Meeting authorizing the new issue.

The new issue to Alecta and Swed Robur Fonder entails 10 million class B shares at a rate of SEK 13. The new share issue will be implemented following authorization by the Annual General Meeting. All in all, the three new issuances mean that, at full subscription, Morphic will issue approximately 24.2 million shares and will receive MSEK 275, before issuance expenses.

”We are witnessing an accelerated global interest in renewable energy and environmentally friendly energy systems, not least in our own patented fuel cell plate technology. In order to reach our goal to be an acknowledged player in this expanding market, we need to demonstrate a strong capital base. Aside from major expansion in wind power, Morphic is in the final stages of negotiation for volume orders for fuel cell plates that may require establishing production lines in both China and the US in the future. The agreements entail further investment and lengthy negotiations. In order to be considered a credible player in negotiations of this caliber, it is, in our experience, necessary to demonstrate a solid ownership structure. The proposed new share issue also indicates acceleration in the commercialization of the complete energy system by merging with other leading fuel cell companies. We would therefore like to welcome Östersjöstiftelsen (The Foundation for Baltic and East European Studies), Swed Robur Fonder and Alecta as long-term shareholders in Morphic”, says Peter Enå, Director of the Board at Morphic Technologies AB.

As commented by Alecta’s Head of Equities, Peter van Berlekom:”We consider ourselves to be long-term shareholders in this exciting company.”