Greenbridge Announces Investment in EpinovaTechMay 14Greenbridge Sàrl (Greenbridge), is pleased to announce an agreement to acquire over 50% of the share capital of EpinovaTech AB (EpinovaTech) through a direct investment in the company and the acquisition of shares from existing shareholders. The completion of the transaction is subject to regulatory approvals and is expected to be finalized during Q2 2024.EpinovaTech was founded in 2019 and is headquartered in Lund, Sweden. A producer of epiwafers, the company has patented a technology called NovaGaN®, which allows the widespread adoption of Gallium Nitride (GaN) into industries such as automotive, 5G and renewable energy, where there is need for high efficiency and power-handling capabilities. The NovaGaN® technology enables faster and smaller electronics with reduced energy consumption, while also offering compatibility with existing chip factories, thus providing economies of scale, industrial scalability, and short time-to-market.This investment underscores Greenbridge's commitment to fostering innovation and growth of companies that are disrupting their industries and have the potential to become the market leader. Greenbridge will take an active ownership role and work closely with the board and management team of EpinovaTech to refine and develop the long-term strategy.“I firmly believe EpinovaTech holds the potential to completely revolutionise the EV industry and the larger electronic and renewable energy industries. Greenbridge will work relentlessly to ensure that happens.” - Ola Rollén, Greenbridge founder and Chairman.“I am very pleased with this investment and for the interest from Greenbridge in the company's pioneering NovaGaN® technology. I am convinced that this is the beginning of something big.” - Martin Olsson, EpinovaTech AB founder and Inventor. “EpinovaTech has set out to revolutionise the semiconductor industry at its core. We see a perfect match with Greenbridge - a visionary investor with an industrial heart - that shares our belief that strong partnerships are key for success. We are very much looking forward to a close relationship with Greenbridge as an active and long-term owner. “- Victoria Woyland, CEO of EpinovaTech AB
BLG Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
