Change of tenant.
Colabitoil signs new lease with RaceCap AB, replacing the lease with Block Trade Technology Ltd.
NORRSUNDET, SWEDEN (2 August, 2018) – Colabitoil’s real-estate subsidiary, Colabitoil Fastigheter AB, has signed a new lease with RACE-CAP AB. As of today, RACE-CAP AB is replacing Block Trade Technology Ltd as the tenant, with equal terms and conditions.
RACE-CAP is an American multinational technology company headquartered in New York and Zürich that designs, develops, and sells hardware and software solutions for the blockchain and high-performance computer industries.
“Sweden is a key country for business development for RACE-CAP internationally and Norrsundet is our first hub to build modern and efficient data center facilities. RACE-CAP has already begun initial stage planning to build several hubs throughout Sweden in the near future”, says Nick Toscano Operations Director for RACE-CAP.
Colabitoil decided to cancel the lease with its tenant Block Trade Technology Ltd, as the company failed to fulfill its commitments in accordance with the agreement announced on February 15, 2018. Change of tenant has a minor impact on year earnings for Colabitoil.
COLABITOIL SWEDEN AB is a Swedish public company listed on AktieTorget. The company was founded in 2013 with the vision of manufacturing and market renewable fuels. From Norrsundet, Mid Swedens logistics hub, the company supplies companies and consumers with fossil-free fuels. The supply of goods and services enables customers to reduce their carbon footprint by combining high quality renewable fuel products with good service. The company is leading the development of renewable diesel HVO in Sweden. The company has three subsidiaries; real estate, production and tank facilities For more information, visit www.colabitoil.com