RE: “Actively pursues funding opportunities”1 Feb 2023 07:43
Convert its African electricity-generating asset fuel supply from coal to biofuel technology, subject to proven technical and commercial feasibility (RNS dated 25 August 2022).
· Identify and secure South African and United Kingdom Waste to Energy ("WtE") and flexible/reserve-power projects (RNSs dated 18 May 2021 and 19 April 2021, respectively).
· Enter the Long Duration Energy Storage ('LDES') market, comprising Battery Energy Storage Systems ('BESS') integrated with utility-scale and microgrid renewable energy solutions (RNS dated 17 May 2022).
· Realise shareholder value with the continuation of its spinout strategy, whereby the Company's WtE and biofuel projects to be potentially held in a new AIM-listed vehicle. Ultimate Sustainable Energy LTD ('USE'), is being prepared for listing on AIM via an initial public offering ('IPO'). (See RNS dated 29 September 2022). In this regard, as part of planning and preparation of the IPO referred to above, the Company has identified a Nomad and Broker and is in advanced negotiations towards agreeing engagement and mandate letters with a view of completing the IPO during