“The Hong Kong based financial investor Guangyu International has invested 200 MUSD in new equity in Elkem Solar. This has significantly strengthened our capital base and will enable us to further develop the company. We have together with Bluestar worked long and hard to establish this agreement and we are very pleased with the result,” says CEO of Elkem Solar Inge Grubben-Strømnes.
Guangyu invested the 200 MUSD through a share issuance in Elkem Solar’s holding company. Elkem Solar is now owned 50% by Elkem and 50% by Guangyu International.
“The new ownership structure in Elkem Solar will not result in changes for our employees, strategy or management. Elkem Solar will continue to buy services from Elkem,” says Grubben-Strømnes.
Guangyu International is an investment company based in Hong Kong. The company is financed through the Chinese investment bank Guosen Securities.