EuroSite Power Signs Multiple Finance Partners
Announces Intent to Transfer Listing to OTCQX
Thursday December 17th 2015
WALTHAM, Mass. – December 17, 2015 – EuroSite Power™ Inc., (OTCQB: EUSP) an On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centres in the United Kingdom (UK) and Europe is pleased to announce it has reached an agreement in principle with two European project financing partners, Macquarie Energy Leasing and Societe Generale Equipment Finance. The arrangements will enable EuroSite Power to target larger and more frequent installations of its On-Site Utility projects.
“These financing arrangements ensure that going forward, capital will be constrained only by project ROI, not by availability of funds,” said Paul Hamblyn, Managing Director of EuroSite Power. “Any project that meets our required return hurdles, regardless of size and scope, may be pursued.”
Speaking about the deals, Chief Executive Officer Dr. Elias Samaras noted, “The two new financing term sheets in conjunction with the previously announced terms for purchasing natural gas with Corona Energy mark major milestones on the path toward profitability. We now have in place a strong foundation for future growth. The decision of the two largest financing groups in Europe to fully support our operations demonstrates the confidence of our partners in our company.”
In addition to the financing arrangements, the Company is in the process of applying to list on OTCQX U.S. Designed for investor-focused companies which meet high financial standards and are current in their disclosures, the OTCQX exchange allows institutional and retail investors to easily buy securities through the broker of their choice, facilitating increased share liquidity.
“EuroSite Power has been making excellent progress in executing on our business model and growth plans,” said Dr. Samaras. “The transfer of EuroSite Power’s listing to OTCQX will be a validation of our efforts and sends a strong signal to the investment community that we are committed to building a stable and liquid offering for shareholders.”