Equity issue: release by Truffle Capital of the second tranche of EUR 1 million

Equity issue: release by Truffle Capital of the second tranche of EUR 1 million

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Marseille, 13 February 2017 – GEOCORAIL, an innovative company specialized in the prevention of coastal erosion and the protection of marine structures, announced the payment by Truffle Capital of the second tranche of EUR 1 million of the EUR 2 million equity issue decided in October 2015.

This release of the second million euros recognizes GEOCORAIL’s smooth development. It has been marked, in recent months, by the Board of Directors’ inauguration of its Research and Development Centre at the port of Fos (Bouches-du-Rhône), a testing facility operational since the autumn of 2016 for testing multiple operating parameters at the same time.

The strengthening of its financial resources means that GEOCORAIL will be able to significantly speed up the technical and market developments currently underway. In particular, this sound financial footing will enhance its credibility as an industrial partner of major maritime engineering players as it implements its electrochemical process in addition to existing technologies.

About GEOCORAIL / www.geocorail.com
GEOCORAIL develops and commercializes innovative solutions to mitigate shore erosion and protect maritime coastal works and offshore structures. These solutions are based on an electrochemical process respectful of the environment that allows the in situ creation of a natural stone from minerals present at the site. The Geocorail® exhibits a high mechanical resistance and presents an aspect which allows it to blend into its surroundings. It also offers the advantage of sequestrating some of the carbon that is present in the oceans. The Geocorail® formation mechanism can also be used to trap and recover certain pollutants present in the marine environment, such as heavy metals. GEOCORAIL continues the development and optimization of its process for direct applications and is looking to partner with major players in maritime engineering for applications complementing existing engineering practices. GEOCORAIL was founded and advised by Truffle Capital in 2012 and is supported, since its creation, by the Holding Incubatrice “Commodities and Materials”.

For more information, please contact:
GEOCORAIL SAS
Philippe Andréani
Managing Director
Tél : +33(0)6 13 18 32 55
philippe.andreani@geocorail.com

COMALTO (Media Relations)
Jean-François Carminati
Tél : +33(0)6 63 87 57 60
jfcarminati@comalto.com
Nicole Roffé
nroffe@comalto.com

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