Vela Technologies (GB:VELA) has released an update.
Vela Technologies has entered into a convertible loan note agreement with Igraine plc, offering up to £500,000 in loans to support Igraine’s investments in breakthrough technologies and life sciences. This strategic move enhances Vela’s stake in Igraine, currently at 27.66%, with an interest rate of 12% per annum on drawn amounts. The agreement also ties into Igraine’s exclusive investment rights with GEM Energia, focusing on battery energy storage projects in the UK.
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