Eco Innovation Group, Inc. an innovative company aggregating investments in new technologies that promote environmental and social well-being and the advancement of green energy solutions, is pleased to announce that the Company has been granted a line of credit of up to $10 million to be used toward retiring outstanding toxic convertible financing notes, investing in commercializing prototypes related to existing projects, and discovering new core innovation opportunities for its technology development pipeline.
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“This has been a historically difficult period for growth stocks, with most seeing enormous declines as the baby gets thrown out with the bathwater,” remarked Julia Otey-Raudes, CEO of ECO Innovation Group. “However, we have a number of projects we are shepherding to market, and this line of credit will ensure that we have enough capital to achieve our objectives and move forward with no major foreseeable disruptions.”
The Company has acquired access to up to $10 million in new capital at better terms than its current financing arrangements, allowing management greater optionality and flexibility in meeting its current goals without subjecting its shareholders to greater dilution risk.
In addition, the new funding round will allow the Company to push its current projects toward commercialization, including its revolutionary new patented Advanced GET system, a next-generation glycerin-based supercritical plant extraction technology system, which has just entered Phase Two of its prototype build process.
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In addition, new access to capital will allow the Company to take advantage of new opportunities for pipeline investments as it seeks to broaden its exposure to potentially game-changing new innovations. This is especially important during a period where many inventors and companies are facing difficulties accessing new capital leading to potentially distressed pricing opportunities.
Otey-Raudes added, “While it looks like a difficult context right now due to tightening macro factors, companies able to access capital and continue with opportunistic strategic activity have the potential to capitalize on new deals at much better terms than we have seen over recent terms. We are focused on the long term and accomplishing our vision to deliver strong value to our shareholders. This funding deal offers us the optionality and security we need to achieve that goal.”
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