Leclanché obtains €5m bailout loan

Swiss lithium-ion battery producer Leclanché has announced that its German subsidiary, Leclanché GmbH, has obtained a €5 million (USD$6.5 million) bridging loan from the Bruellan Corporate Governance Action Fund, to cover its short-term funding needs. The loan expires in March 2013 and is secured with assets of Leclanché GmbH.

Both parties have agreed that following a capital increase to raise further funds for Leclanché SA, Bruellan has the right to convert the loan into shares of Leclanché.

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