NAVYA has drawn the first €15 million tranche of financing agreed with the European Investment Bank
– Continuation of the recruitment plan to strengthen its Research & Development teams
– Implementation of an investment strategy focused on product development and operational performance
Villeurbanne, France, March 6, 2019 – 5:45pm CET – NAVYA (FR0013018041- NAVYA), a leading company in the autonomous vehicle market and in smart and shared mobility solutions, announces today the drawing of tranche A of its €30 million financing agreement with the European Investment Bank.
On August 9, 2018, NAVYA signed a €30 million financing agreement with the European Investment Bank. The financing is made of two tranches (A and B) of €15 million each, with a 5-year maturity from the time of each drawing. In line with the terms of the agreement, on drawing Tranche A, NAVYA has issued warrants representing 1.5% of its shares issued and to be issued.
These additional financial resources will enable NAVYA to continue its investment strategy intended to:
- – Strengthen its R&D teams
- – Improve client support and market analysis
- – Extend its product range, with the start of road tests for the AUTONOM® CAB robo-cab and the development of autonomous tractor solutions for the transportation of goods in industrial sites and airports, as part of the subsidiary it has created with Charlatte Manutention.
Next financial press release:
March 27, 2019: Full-year 2018 results
NAVYA is a leading French name in the autonomous vehicle market and in smart shared mobility solutions. With more than 250 employees in France (Paris and Lyon) and in the United States (Michigan), NAVYA develops, manufactures and commercializes autonomous, driverless, and electric vehicles that combine robotic, digital and driving technologies at the highest level. Since 2015, NAVYA has been the first to market and put into service autonomous mobility solutions. NAVYA has a range of two autonomous vehicles: the AUTONOM® SHUTTLE, main development axis, launched in September 2015, of which more than 115 had been sold as of 31 December 2018, notably in the United States, France, Germany, Switzerland, Japan and Australia, and the AUTONOM® CAB, unveiled in November 2017 and whose first road tests will start shortly. Created in 2014 with the support of Robolution Capital, investment fund managed by 360 Capital Partners, his reference shareholder, NAVYA’s shareholders also include the Gravitation fund and Paris Region Venture Fund (Région Île-de-France) managed by Cap Decisif Management as well as Valeo and Keolis groups.
NAVYA is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- NAVYA).
For more information visit: www.navya.tech/en
This document may contain certain statements reflecting estimates, forecasts and expectations that constitute forward-looking information. By their nature, these statements are subject to a number of assumptions and entail known and unknown risks and uncertainties as they relate to events and depend on circumstances that will occur in the future. The known risks are those discussed or identified in Chapter 4, “Risk Factors” of Navya’s registration document which is available on the company’s website (http://navya.tech). The actual results and developments could differ materially from those expressed or implied by these statements and there can be no assurance that these statements will prove to be accurate. The past performance of Navya and its subsidiaries cannot be relied on as a guide to future performance. These forward-looking statements should be used with caution and circumspection and in no event can Navya or its management be held responsible for any investment or other decision based upon such statements. These forward-looking statements only reflect Navya’s view as of the date hereof and the company expressly disclaims any obligation or undertaking to release any update thereto. The information in this document does not constitute an offer to sell or an invitation to buy shares in Navya or an invitation or inducement to engage in any other investment activities.