Project funding: interim results and news

On December 16, at the final webinar, we announced important news and the project funding results by the end of stage 17.

Dmitriy Duyunov reported a change in the amount of project funding and its implementation timeframe.

• The amount needed for the project implementation has been increased from $ 60,000,000 to $ 70,000,000. This is done in the best interest of all investors in order to build up a financial buffer and avoid the risks of underfunding and failure to implement the project at the finish line. The money that remains after the construction is completed will go into the working capital of "Sovelmash" and will be needed to reach the maximum capacity of the enterprise. The company's assets will be privatized. They will be used to issue shares, the owners of which will become the project's investors.
• Due to the increase in the funding volume and taking into account the rate of fund raising, the project implementation deadline has been extended by one year. "Sovelmash" will strive to complete the D&E construction within the previously announced deadline, i.e. in the 3rd quarter of 2023. But compliance with this plan depends on the funding rate.

The "Slavyanka" technology's creator noted, "Everyone sees the momentum that has been achieved in the last few months. We've closed the thermal envelope, we've finished a lot of the reinforced concrete work. We are currently welding the heating pipeline. All our resources have been utilized to this end. Therefore, attracting additional investment from private investors will be the breath of fresh air that the project needs."

Besides, at the final webinar, head of advertising and public relations at SOLARGROUP Pavel Filippov reported on the project funding statistics for all years' performance.

• Attracted investment in the project - more than $ 52,000,000.
• More than 70,000 investment packages sold.
• 24,800,000,000 shares credited to the investors.
• There are more than 400,000 registered participants in the back office.
• About 50,000 people invested in the project.
• The project is promoted by 15,000 SOLARGROUP partners, who have already earned a profit from the partner program.

Stage 17 has become a breakthrough for the D&E construction and development of "Sovelmash", bringing many new achievements. It remains to complete the final stages, implement the project, launch the D&E, and reap the dividends from its activities. Everything about this is in our hands!