Hagal AS Announces Unilateral Termination of Acquisition Agreement with Entheos, Reaffirms Commitment to Hardware Technology Path

Oslo, Norway — Hagal AS, a leading provider in renewable energy solutions, announces the unilateral termination of its proposed acquisition by Entheos. This decision, driven by Entheos’s failure to meet the commitments outlined in the initial purchase agreement, comes as Hagal AS re-evaluates its core business strategy to continue its focus on innovative hardware technology.

Despite the initial intent to merge and leverage both companies’ strengths to establish a global leader in the energy sector, the inability of Entheos to fulfill essential obligations compelled Hagal AS to reassess and ultimately end the partnership. Attempts to negotiate new terms were unsuccessful, prompting Hagal to act decisively to protect its business and strategic interests.

As part of the termination, Entheos will retain a stake in Hagal AS, a gesture that acknowledges Entheos’s early contributions and investments.

With this significant realignment, Hagal AS reaffirms its dedication to its core business of developing state-of-the-art single-cell hardware technologies in the renewable energy space. This focused approach is aimed at enhancing product offerings and driving innovation in energy systems.

Hagal AS extends its deepest thanks to its employees, customers, and stakeholders for their continued support during this transition. We are excited about our future as we reinforce our commitment to lead with pioneering hardware solutions in sustainable energy.

For further information, inquiries, or interviews, please contact:
Christian Ringvold
Email: marketing(at)hagal.com

About Hagal AS
Hagal AS is at the forefront of the renewable energy industry, based in Norway. The company specializes in the development of cutting-edge hardware technology solutions, designed to minimize environmental impact and meet the growing global demand for sustainable energy.

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Copyright © 2020-2024 Hagal AS.
All Rights Reserved.