Baseload Capital Sweden AB (publ) today releases the results for the period 1 January – 31 March 2022

2022-05-27 6:17:07

During the first quarter, we have initiated a written procedure with regards to our green bond to ensure the opportunity to redeem our bond at par and started planning for a series B round in the company to finance the upcoming growth phase.

  • The result for the first quarter was SEK -30.5 million. Revaluation of projects and loans to subsidiaries accounted for SEK -17.4 million, of which SEK -5.9 million consisted of exchange rate differences as a result of a stronger Swedish krona.
  • In Iceland, the focus during Q1 has continued to be on optimizing and bringing existing power plants to full capacity. On the business development side, our local development company has planned for drilling on the Efri Reikir project, which is expected to take place during the first half of 2022. During the previous quarter, we made a write-down of the shares in Varmaorka as the roll-out of new power plants is slower than planned.

Read the full press release on CISION