Australian energy fund makes $4M strategic investment


Further to yesterday’s announcement regarding the strategic investment in Greatcell Solar (ASX: GSL) of $4 million at 22 cents per share, the Company is pleased to confirm that the name of the investor is New Moonie Petroleum Pty Limited.

The investment comes at an important time for the Company, with the funds to be used to accelerate the development of Greatcell’s prototype facility at CSIRO at Clayton, Victoria and to facilitate procurement of long lead-time capital equipment required for that facility.

As noted previously, the Company expects to issue the 18.2 million shares in early December which will be voluntarily escrowed for a period of one year.