Broadening the offering
Deinove (PA:ALDEI) has secured additional financial resources that will allow it to continue the development of its technology in the field of green chemistry and biofuels. The majority of the funds raised will be used to finance developments in Deinochem (green chemistry), which we now expect will contribute an increased proportion of future revenues.
Successful capital-raising
At the end of 2015 Deinove successfully raised €10.7m (gross) via the issue of new equity. The capital-raising resulted in the issue of 2.37m new shares (at a price of €4.5), taking the total number of shares outstanding to 8.55m. Together with funds raised from the issue of shares as part of its equity drawdown arrangement, Deinove should have sufficient financial resources to continue the development of its major business lines in to 2018.
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