Scandinavian Enviro Systems CEO Fredrik Emilson and the company’s CFO, Fredrik Aaben, have subscribed for 3,980,769 shares worth SEK 3.3 million, under the subscription commitments they entered into in connection with Enviro’s recently completed rights issue, strengthening the company’s cash position by approximately SEK 240 million
“Fredrik Aaben and I made extensive subscription and guarantee commitments, which reflect our strong confidence in the company, its technology, and its ability to both solve a major environmental issue and create significant economic value. Other members of the management team have also subscribed to a considerable number of shares,” says Fredrik Emilson, CEO of Enviro.
Before the rights issue, both Emilson and Aaben had entered into subscription commitments. Now that the issue has been completed, both have subscribed for shares under these commitments. Emilson subscribed to a total of 2,956,672 shares, while Aaben, who did not own any shares before, subscribed to 1,024,096 shares. In total, the issue brought in approximately SEK 240 million before issuance costs. Among the participants in the issue were, notably, Handelsbanken Fonder and Michelin.
This secures Enviro’s operations for the next 18 months, carrying the company through the completion of the plant, its operational start, and onward to the handover to Infinteria, which could take place in mid-2026 when the plant is expected to receive its Provisional Acceptance Certificate (PAC). The Uddevalla facility will have the capacity to recycle 34,500 tons of end-of-life tyres per year, and its entire future output of pyrolysis oil and recovered carbon black (rCB) is already sold out.
