iQ Power Licensing AG announced the completion of a major multimillion USD financing deal. All prerequisites for financing have been met. This includes, in particular, the acquisition of the majority stake in a Western European battery manufacturer. The USD 14 million financing follows the amalgamation of iQ Power Licensing with the US partner Engenavis Inc. of Delaware/USA. The current funding is a bridge loan until the completion of a much larger funding of a large double-digit or even triple-digit million USD funding. The interim financing agreement also allows financing of the R&D work for and construction of several innovative battery manufacturing technologies (to be announced later), as well as installation of production capacity for the new anti-idle system KinetiCharger of N4 Power at iQ Power's US amalgamation partner Engenavis.