Here's a press release about what Powabyke and Metroelectric are up to:
Shares & Markets - Telegraph
Shares & Markets - Telegraph
Nick Child, Director of Powabyke, comments; "The injection of this additional growth capital into the group will enable Powabyke to meet the growing demand for its existing range, and to enable us to forge ahead with plans for new models of electric bikes and our planned expansion into new markets. In the coming weeks we are expecting to be able to conclude a major export distribution deal for our new X Bike in Scandinavia and the appointment of at least two major UK high street retailers to stock the Powabyke range. These are very exciting times for us."
Greg Collier, chairman of Metroelectric Plc comments on developments at Powabyke;
"We are absolutely delighted by the excellent performance of Powabyke since its acquisition in December. Powabyke is already beginning to realise its obvious, huge, potential as it builds on its existing strong following of enthusiastic customers. We see this further funding as an opportunity to fast-track the launch of new products and to support international expansion, and we look forward to being able to deliver to our shareholders,demonstrable evidence of the results of this investment within the near future".
Greg Collier, chairman of Metroelectric Plc comments on developments at Powabyke;
"We are absolutely delighted by the excellent performance of Powabyke since its acquisition in December. Powabyke is already beginning to realise its obvious, huge, potential as it builds on its existing strong following of enthusiastic customers. We see this further funding as an opportunity to fast-track the launch of new products and to support international expansion, and we look forward to being able to deliver to our shareholders,demonstrable evidence of the results of this investment within the near future".
