A-Route "Accelerating New Businesses in Bio and Renewable Energy through Capital Expansion"

[Asia Economy Reporter Hyunseok Yoo] A-Root, a company specializing in industrial printers, announced on the 4th that it plans to secure new growth engines such as bio business and renewable energy business based on the capital expanded through the conversion of convertible bonds (CB).

A-Root recently disclosed that conversion rights worth 58 billion KRW were exercised for the 7th and 9th to 16th series of CBs. Through this stock conversion, a total capital expansion of 58 billion KRW was achieved.

An A-Root official said, "The company is reviewing additional investments to find new growth engines following 'Virocure' and 'Woojin Gijeon'," adding, "We are conducting multifaceted discussions to secure mid- to long-term growth engines such as renewable energy business."

He continued, "We plan to accelerate the bio business currently underway and the power solution business through Woojin Gijeon," and added, "Along with this, we will secure additional growth engines such as renewable energy to maximize the company's future value."

For the bio business, A-Root made a strategic investment in May in Virocure, a company specializing in anticancer viruses. Following the first investment, a contract was signed to make additional investments according to the clinical progress stage, making it possible to acquire shares to become the largest shareholder in the future.

In June, A-Root incorporated Woojin Gijeon, a company specializing in industrial power equipment distribution and solutions, as an affiliate, and plans to secure management rights through additional investments. Through Woojin Gijeon, A-Root is promoting entry into the renewable energy business by introducing hydrogen fuel cells from Toshiba Energy & Systems & Solutions.

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