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Reinforcement of the support and confidence of Entech’s historical banks and addition of 2 new banks to the banking pool
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€15 million syndicated loan in the form of a revolving credit facility
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€20 million in bank guarantees
Quimper : Entech (FR0014004362 – ALESE), the technology company specialized in smart renewable energy storage and management, has successfully finalized a €15 million syndicated loan and a €20 million signature commitments package (domestic bank guarantees).
The combination of the syndicated loan and the package of domestic bank guarantees, both of which are renewable, provides Entech flexibility and agility: the first one enables to secure the natural growth in working capital requirements that increases with the level of activity, while the other provides the necessary guarantees required by clients as part of the implementation of their projects.
This financing operation is a strong signal of the renewed confidence of the company’s long-standing banking partners: Crédit Agricole du Finistère, CIC Ouest, ARKEA and Caisse d’Epargne Bretagne Pays de Loire. The addition of two new banks to the banking pool, LCL and BNP Paribas, testifies to their strong belief in Entech’s ambitious prospects.
Christopher Franquet, Chairman and CEO of Entech – “This transaction will enable Entech to take a new structural step forward in its development plan by providing the company with the financial resources for growth on increasingly ambitious projects.”
This syndication was arranged with 2 co-arrangers who are also lenders: Crédit Agricole du Finistère (loan agent) and CIC Ouest, with the support of ARKEA, Caisse d’Epargne Bretagne Pays de Loire, BNP Paribas and LCL as lenders.
About Entech
Faced with the technological challenges posed by the strong growth of new energies within the energy mix, Entech enables the massive integration of renewable energies and access to energy thanks to storage and electrical conversion solutions controlled by intelligent software systems.
Builder of the new energies, Entech develops, builds and operates production plants and storage systems – batteries or hydrogen – on-grid or off-grid. Founded in Quimper in 2016, Entech has already completed more than 300 projects worldwide and today employs 150 people.
Selected in 2021 by “La French Tech” in its Green20 programme and recognised by numerous awards for its capacity to innovate in supporting the energy transition, Entech is committed to acting on a daily basis as a responsible company, not only from an environmental point of view but also from a social and societal one.