Legal attitude: Art. 17 par. 1 MAR - confidential information.
The Management Board of FLUID S.A. with its registered office in Sędziszów - "Issuer" or "Company", informs that on 30 January 2019 it agreed initial terms of cooperation with RDA Atlantic Incorporated (hereinafter: "RDA") regarding the construction of one or more Energy Recovery Facility in Canada.
Under the terms of the agreement, a holding structure based on the Issuer's equity (or a 100% subsidiary of the Issuer) is to be built in Canada under the law. The Issuer's share in the Canadian structures will be 29%.
It was agreed that the parties would immediately start negotiating the content of corporate agreements regulating the holding of a holding in Canada, and these works will be completed by February 28, 2019. At the same time, the parties will prepare the budget assumptions and the plan of the holding.
In March 2019, the Issuer will start work on the documentation necessary to build and conduct energy and biocarbon production for the installation to be built in Canada. This documentation will be prepared by May 15, 2019.
RDA, due to the actions taken earlier on the Canadian market, called on the Issuer to decide on the possibility of cooperation and pointed to the need to quickly implement measures to allow the construction of installations in Canada using public support.
According to the information obtained by the Issuer from the RDA, confirmed by the documents presented, the construction of the installation in Canada was positively received by the institutions functioning on the basis of public funds, indicating the inclusion of FLUID technology in the development of the use of biomass in Canada. The structure of wood use in Canada is changing, mainly due to the growing predominance of electronic media in the market share (a decrease in the use of paper in the production of newspapers, books and paper for printers), therefore new attractive biomass management methods are sought for.
An important factor for the development of Fluid S.A. in Canada, there is a growing interest in domestic heat engineering, which is looking for renewable energy sources that can replace hard coal, with a low investment outlay hereby creating a market for biochar produced in Canadian installations (among others in reference to the ESPI report of 28 January 2019 r. 2/2019).
Due to the possible size of revenues for the Company in the event of meeting the objective set out in this agreement, the Issuer considers the information below to be confidential.
Legal basis: art. 17 sec. 1 of the MAR Regulation.
Source: company website, investor relations, current and periodic reports.