Government loan converted into grant and generate positive income of SEK 30 million in 2Q

Source: www.gulfoilandgas.com 5/31/2024, Location: Europe

In 2009, PowerCell was granted a conditional loan of SEK 30 million by the Governmental Swedish Energy Agency. The Swedish Energy Agency has now decided to convert the loan into a grant. The decision means that PowerCell's interest-bearing loan is reduced by SEK 30 million and the grant is reported as other income in the second quarter. The contribution will be reported as an item affecting comparability.

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