ACSL Secures 1 Billion Yen Commitment Line to Fund NEDO Drone Project

MT Newswires Live18:14

ACSL (TYO:6232) has agreed to enter into a 1 billion yen commitment line agreement with Shizuoka Bank to secure working capital for a government-backed drone development project, according to a Tokyo bourse filing on Thursday.

The funding will support the company's participation in a New Energy and Industrial Technology Development Organization (NEDO) project, for which ACSL is eligible to receive up to 2.9 billion yen in subsidies by 2027.

The 1 billion yen credit line, scheduled to be signed on March 31 and with a 12-month term, will cover project expenses until subsidy payments are received, thereby strengthening the company's financial foundation.

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