Synertec Secures New Funding to Boost Renewable Technology Growth

Synertec Corporation Limited (ASX: SOP) has enhanced its capital structure through a significant funding arrangement, securing a debt facility of up to AU$15 million from Altor Capital and raising AU$7 million through a share placement at AU$0.08 per share. This financial infusion, totaling up to AU$22 million, is strategically aimed at expanding the deployment of Synertec's Powerhouse technology—a solar and battery system promising 100% renewable base load power.

The funds are expected to advance the company’s rollout of Powerhouse units under a Build Own Operate Maintain model, ensuring Synertec's progression towards profitability. This capital boost will also help Synertec to minimize shareholder dilution and funding costs, supporting its objective to become a high-growth, low-carbon technology leader on the ASX.

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