Catenai (AIM:CTAI), the AIM-quoted provider of digital media and technology services, said it has entered an extension agreement with Klarian, under which Klarian will repay £699,160 due under the convertible loan note and related fees by 1 July, with an additional fee of 3% per month (or part thereof) accruing until repayment.
The loan stemmed from a £450,000 unsecured convertible loan note Catenai provided to Klarian on 25 April 2024.
Klarian has also informed Catenai it has begun a collaborative pilot project with an existing MOU partner that supplies technology solutions to companies in the energy and natural resources sectors to demonstrate its physics-based virtual sensor technology for offshore pipeline assets and to integrate virtual sensors estimating pressure, temperature and flow into a broader data ecosystem.
As previously announced, Klarian's commercial sales pipeline now exceeds £5 million and it is progressing discussions with investors.
