Kibo Energy PLC - Africa and UK-focused energy company - Completes its agreement with South Africa-based Industrial Green Energy Solutions Pty Ltd to jointly develop a portfolio of waste-to-energy projects in SA. Says it will now fast track the implementation of the first project.
The waste-to-energy projects will convert plastic waste provided by leading waste disposal operators into syngas. The syngas will then be stored on site and fed into gas engines to generate electrical power.
"We are very pleased with the completion of the agreement with IGES, and the amendment provides us with the opportunity to streamline and fast track the further implementation and development of the first project," Kibo CEO Louis Coetzee said.
Current Johannesburg stock price: ZAR0.09
Year-to-date change: up 29%
Current London stock price: 0.22 pence
Year-to-date change: up 13%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kibo Energy (KIBO)