Blackstone Resources secures CHF 30 million
Blackstone Resources AG has signed a three-year equity commitment with Luxembourg-based GEM Global Yield. The company will use the funds to commercialize their printed electric car batteries and the battery metals.
Blackstone Resources AG will receive equity capital of 30 million francs from Luxembourg- based GEM Global Yield LLC SCS . As the Zug-based battery manufacturer, owner of metal refineries and raw materials trader , announced that it has signed a three-year equity commitment with GEM.
This funding will accelerate Blackstone's development of a commercially printed battery for mass production, according to the media release. In addition, the holding company wants to acquire important systems and equipment and expand investments in battery metals.
"Blackstone represents the technology of the next generation of printed 3D batteries with solid-state electrolyte and their mass production," said CEO Ulrich Ernst. "This capital increase puts us on the way to realizing our vision of a leading battery producer in order to produce batteries with higher density." Their more environmentally friendly production should succeed at costs below the current market price.
As part of this agreement, Blackstone will issue 2.5 million bonds (warrants) with an exercise price of CHF 3.00. A capital increase will be carried out in due course.
Blackstone Resources invests in and claims to develop primarily mining projects with strong future potential that focus on battery metals. The company has taken strategic stakes in mining companies that ethically seek, develop and mine these battery metals in politically safe countries. In addition, it started trading in raw materials.