Blackstone increases capital of Blackstone Technology
Blackstone says that it will increase the paid-in share capital of its German subsidiary Blackstone Technology GmbH paid by Blackstone Resources AG of EUR 800'000 to now a total share capital of EUR 1'000'000.
Following the Blackstone Battery days back in February 2021 there have been some success in the development of the company's German subsidiary Blackstone Technology GmbH and its progress in the industrialisation and financing of the 3D-printed battery cell. Its parent company Blackstone Resources AG has now taken this success into account by increasing its share capital and open more possibilities. According to Blackstone this will create the prerequisite for raising further external debt capital for the company's growth plans. A part of this is the previously reported on tenfold increase in production planned for in 2022. The company also brings up the letter of intent (LOI) it signed with Triathlon Batteries GmbH, a German manufacturer of battery systems for industrial trucks, just a while back. "The rapid developments over the last year were only possible thanks to an extremely motivated team of experienced engineers, competent external research facilities and the move into its modern production facility in Döbeln, Saxony. Its shareholder provide now the further equity capital needed to implement its ambitious plans," the company writes in a short update. The company ends by stating that the acquisition of engineers for production management, 3D-printing, paste production, laboratory management, IT, maintenance, product development and small series production automation, as well as AI systems, has been completed for 2021. The company will start its initial production in September 2021.