2loop Tech in direct IPO offering on New Connect, raises 4.3 million pln

2loop Tech, a company from the technology and research industry that specializes in waste-free recycling of photovoltaic panels, intends to conduct a pre-IPO and debut on the NewConnect market in 2022.

The company intends to respond to the rapidly growing problem of disposal of used photovoltaic panels and their negative impact on the environment. 2loop Tech is developing, in cooperation with the AGH University of Science and Technology, a technology that allows the recovery of nearly 99% of raw materials from photovoltaic panels. It also intends to create a technological line processing used photovoltaic installations. For this purpose, the company signed a letter of intent to cooperate with ESOLEO – a company from the Cyfrowy Polsat Group.

“We are facing the global challenge of managing used photovoltaic panels. Our methods of processing used panels, developed together with 2loop Tech, will not only be 100% ecological, but also economically effective”- says Prof. Marek Cała, dean of the Faculty of Mining and Geoengineering at AGH in Krakow.

Subscriptions for 2loop Tech shares started September 15th and will last until September 29th. The public fundraiser will be carried out via the company’s website.

“We try to spend all funds very economically, so we do not use the help of a brokerage house to promote our public offering, so we do not have to allocate funds from the issue to a commission for the broker” – says Dr. Grzegorz Kujawski, chairman of the Supervisory Board of 2loop Tech.

The company intends to obtain approximately PLN 4.3 million, mainly for extending the scope of research.

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