Sweden – Gotland Tech Development, a subsidiary of Rederi AB Gotland (Gotlandsbolaget), has agreed to invest in Plagazi through a directed share issuance.
The company’s development, market entry, and creation of hydrogen facilities all depend on Gotlandsbolaget’s financing. Together with Vator Securities, the company’s capital raising strategy, which also involves a directed share issue to a select group of new investors and existing shareholders, includes the directed share issuance to Gotlandsbolaget as a strategic anchor investor.
Through its commitment, Gotlandsbolaget has been granted the chance to invest at a share price that will, after additional issuances, which are a component of the company’s capital raising strategy, are completed, correspond to ownership of roughly 10% of the total number of shares and votes in Plagazi.
The oldest passenger shipping firm in Sweden is Gotlandsbolaget, which also owns and runs ferries, roll-on/roll-offs, product tankers, and lodging facilities. Sweden’s first effort to build a sizable hydrogen-powered ship for both passengers and freight, Gotland Horizon, seeks to be a zero-emission class of ship.
Gotlandsbolaget will join Plagazi’s Board of Directors and actively participate in the company’s growth. Strong business synergies between the companies are made possible by Plagazi’s proprietary method and generation of renewable and circular hydrogen at a competitive price.