EQS-News: DWK Deutsche Wasserkraft successfully completes capital increase - further strategic growth planned

DWK Deutsche Wasserkraft successfully completes capital increase - further strategic growth planned

- All 300,000 new shares have been fully placed with institutional shareholders
- Issuance proceeds will be used for further growth of DWK
- Expansion of CO2-saving small hydropower plants in Europe planned

Hamburg, 5 September 2024 - DWK Deutsche Wasserkraft AG (‘DWK’, ISIN: DE000A2AAB74) has successfully completed its capital increase in exchange for cash contributions, making partial use of the existing Authorised Capital 2024 and excluding shareholders' subscription rights (see Corporate News of 30 August 2024). A total of 300,000 new shares were placed in full with institutional investors by way of a private placement at a price of EUR 1.10 per share. This increases the company's share capital to EUR 2,208,464. The capital increase will generate gross issue proceeds of around EUR 330,000 for DWK, which will be used for further strategic growth. DWK plans to acquire and operate small hydro run-of-river power plants in Europe. DWK is utilising the potential of the future market of hydropower and thus making an important contribution to climate neutrality in Europe.

The capital increase will be entered in the commercial register in the course of September. The new shares are expected to be listed on the Hamburg Stock Exchange in the coming weeks.

Jan Erik Schulien, Co-CEO of DWK Deutsche Wasserkraft AG: “We are very pleased that several major shareholders have fully subscribed to our shares as part of the capital increase. The shareholders are thus supporting our continued growth and have shown that they have confidence in our business model. We are the first listed pure hydropower IPP in Germany and want to continue to drive forward the exciting growth market of hydropower in Europe.”

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