AlzChem Group AG

Regulatory Filings • Mar 15, 2024

News Details

Ad-hoc | 15 March 2024 17:56

Alzchem Group AG: Alzchem Group AG receives EUR 34.4 million in EU funding

Alzchem Group AG / Key word(s): Expansion

Alzchem Group AG: Alzchem Group AG receives EUR 34.4 million in EU funding

15-March-2024 / 17:56 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Trostberg, 15 March 2024 – Following a Europe-wide selection process, Alzchem Group AG has been awarded an investment grant of EUR 34.4 million by the EU Commission as part of the ASAP (“Act in Support of Ammunition Production”) funding instrument.

Alzchem Group AG wants to use the funds over an investment period of two and a half years to increase the production capacity of nitroguanidine and to modernize and expand the existing facilities for the production of guanidine nitrate. Guanidine nitrate is a precursor of nitroguanidine, which is used in crop protection, as a propellant for airbags and, increasingly, in defense technology.

Funding for the project was approved in principle and published today by the EU Commission, in consultation with the member states; the final allocation will be made upon conclusion of a corresponding grant agreement, expected to be signed in May 2024.

End of Inside Information

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Language:	English
Company:	Alzchem Group AG
	Dr.-Albert-Frank-Str. 32
	83308 Trostberg
	Germany
Phone:	+498621862888
Fax:	+49862186502888
E-mail:	ir@alzchem.com
Internet:	www.alzchem.com
ISIN:	DE000A2YNT30
WKN:	A2YNT3
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Stuttgart
EQS News ID:	1860225

End of Announcement	EQS News Service