Kibo Energy PLC - Africa- and UK-focused energy company - Receives funding for acquisition of a 54.5% interest in the 25 megawatt electric Billingham waste gasification and power plant developed by Eqteq PLC - a Cork, Ireland-based gasification solutions company. Says amount offered exceeds funding needed for transaction of GBP3 million.
"The potential funders and the company will now proceed with customary due diligence and approval procedures. The company anticipates formal funding agreements to be completed contemporaneously with the completion of the transaction," company says.
Current Johannesburg stock price: ZAR0.07; down 13%
Year-to-date change: flat
Current London stock price: 0.22p
Year-to-date change: 16%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Eqtec (EQT)
Kibo Energy (KIBO)