LION E-Mobility successfully completes a €2.536 mln funding round from a group of strategic partners

02.09.2019

Baar (CH), 02.09.2019– LION E-Mobility AG, the quoted Swiss holding company with several strategic Investments in Electric Storage and Lithium Battery Technology is pleased to announce the completion of a €2.536 mln funding round from a group of existing as well as new strategic investors lead by Mr. Ian Mukherjee who is further adding to his position following his meaningful purchases of LION E-Mobility shares in the 2017 and April 2019 private placements.

The company raised €2,536,500 at €3, a 12.75% premium to the last closing price. Following the placement of 845,500 shares, the total number of shares outstanding increases to 9,239,992.

The proceeds of this financing round will be used to further accelerate the development and production of the LIGHT BATTERY as well as to take advantage of the growth opportunity at LION E-Mobility’s TÜV SÜD Battery Testing JV.

The company expects to have a number of touch and test LIGHT BATTERY modules available during q4 2019 and will provide an update shortly.

Tobias Mayer, CEO of LION E-Mobility says: ’We are pleased to have the ongoing support of a significant number of existing shareholders, first and foremost Mr. Ian Mukherjee’s to deliver the LIGHT BATTERY and take advantage of the growth opportunities testing large scale batteries provides for our JV with TÜV SÜD. Proceeds from this funding round will furthermore allow LION E-Mobility to transition from an Engineering to a Product Company.’

LION E-Mobility has recently entered a new chapter in its life as a listed company, is majority owned by outside shareholders and represented on the Board of Directors by Mr. Mukherjee and Mr. Alessio Basteri. Mr. Basteri was elected as the Chairman of the Board at the most recent AGM the end of June 2019.

The BoD is working closely with LION E-Mobility’s founders Tobias Mayer and Michael Geppert, responsible for technology.

 About Ian Mukherjee

Ian Mukherjee was the founder and Chief Investment Officer of Amiya Capital, a fund that invested principally in Emerging Markets with $1.8bn under management and offices in Europe and Asia.

Mr. Mukherjee did close Amiya Capital in 2018 to fully focus on his Family Office as well as serve on boards of several for and non-for profit companies and trusts.

Prior to founding Amiya in 2005, Ian was a Partner and Managing director of Goldman Sachs where he spent 14 years including 6 based out in Asia.

About LION E-Mobility:

LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the E-Mobility sector, in particular in electrical energy storage and lithium-ion battery system technologies.

The company owns 100% of the German company LION Smart GmbH, a developer of battery packs and battery management systems. LION Smart GmbH also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG.