Vela Technologies (GB:VELA) has released an update.
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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.
For further insights into GB:VELA stock, check out TipRanks’ Stock Analysis page.
