Nilar International AB (publ) files for bankruptcy
INSIDER INFORMATION: The Board of Directors of Nilar International AB (publ) ("Nilar" or the "Company") has today decided to file for bankruptcy. The bankruptcy application will be submitted today, November 30, 2023, to the Attunda district court.
In line with what the Board of Directors communicated on November 29, 2023, the Board's decision is based on the Company's strained and urgent liquidity needs in both the short and long term, where a solution has not been able to materialize.
For more information, please contact:
Gunnar Wieslander, chairman of the board Nilar International AB (publ)
[email protected]
+4670-755 15 70
This information is information that Nilar International AB (publ) is obliged to make public pursuant to the (EU) 596/2014 Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at the time stated by the Company's news distributor Cision at publication of this press release.
About Nilar:
Swedish-based Nilar International AB develops and manufactures batteries that are part of stationary energy storage systems. With better energy storage, society can support the increasingly stressed electricity grid by bridging imbalances between energy production and demand, especially important as the share of renewable energy sources increases. Nilar's battery technology is based on nickel metal hydride (NiMH) electrochemistry with a water-based electrolyte, which provides higher safety while allowing the components to be recycled and reused. Nilar has its headquarters in Gävle and since 2012 all batteries have been developed and produced in the production facility in Gävle, which is powered by 100% renewable energy.
The Nilar share is listed on the Nasdaq First North Premier Growth Market under the ticker NILAR. FNCA Sweden is Certified Adviser. For more information see www.nilar.com.
