Company: Clean motion
Ticker: CLEMO
List: Spotlight Stock Market
Market cap: 65,4 million SEK
Share price: 1.028 SEK at time of publication
Market Size: $24,5 billion by 2023
Industry: Electric last mile delivery
Website: https://cleanmotion.se/

ESGFIRE comment:

Clean motion today (9/11 2023)  announced that they have signed a project deal with EU Horizon Europe,the FULL release can be viewed HERE

The GIANTS project ( which stands for Green Intelligent Affordable Nano Transport Solutions) consists of 23 partners has the goal of developing and implementing innovative and cost efficient solutions for electric vehicles.

The budget for the project is 15,1 million EUR, out of which 12 million is a direct grant contribution from the European Union. Clean Motion will be awarded 1,3 million EUR of the total budget as a grant contribution over the project period of 42 months with start in January 2024.

The project will allow Clean Motion to develop and adapt its existing EVIG vehicle into a new 4 wheel vehicle Category L7.

Chairman of the Board in Clean Motion Göran Folkesson commented on the news:

"In practice, this means that we have secured most of the funding required to implement our product development plan for the next three years, while a number of our subcontractors are in the consortium, which also accelerates the development of key components for our products,"

ESGFIRE views this news a real quality stamp and a big milestone for Clean Motion. Being awarded EU grants from Horizon is not a small achievement and the grants will pay for virtually all product development for the coming three years. ESGFIRE is now eagerly awaiting the type approval which should prove to be another very valuable milestone for Clean motion.

About ESGFIRE

ESGFIRE is an investment company and research firm that focuses on ESG companies with either an environmentally friendly service or product. ESGFIRE has a performance record of over 1000 % returns since 2018.

Contact details
Website: www.esgfire.com
Group CEO: Filip Erhardt
Email: Filip@esgfire.com
Telephone:+46701609605

Legal Disclaimer

This post is based upon reliable sources, namely regulated press releases from the company, as referred to above. Nevertheless, this post may contain interpretations, estimates, or opinions of the authors, or other non-factual information. If that is the case, this is continuously stated above. Furthermore, any projections, forecasts, or similar are explicitly stated as such.

The author holds shares and/or other securities of these companies and the relevant
companies may or may not have paid the author for content posted on this website. This
may impact the content on the website. Because of the above, ESGFIRE urges the visitors to always analyze all the posts critically in an objective manner, e.g., concerning the reliability of the relevant source and of what constitutes the authors' personal interpretations. The visitor is hereby reminded that the post does, as set forth in the Post, contain interpretations, estimates, or opinions of the authors. This post was written by Filip Erhardt, at ESGFIRE, published at December 11th , 2023.

Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for educational purposes only and are not to be interpreted as tips, financial advice or recommendations of any kind to either buy or sell any stocks.