7 Feb 2020 08:38
InfraStrata plc
("InfraStrata" or the "Company")
Extension of Consultation Period for conversion of draft to full marine license
InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic infrastructure projects and physical asset life-cycle management has, in consultation with the Department of Agriculture, Environment and Rural Affairs (DAERA), extended the on-going public consultation period in relation to the marine licence due to the amount of public interest shown in the Islandmagee Gas Storage Project (the "Project").
The public consultation period will now run through until the 23rd March 2020. Further, Islandmagee Energy Limited will host an additional information day at the Gobbins Centre in Islandmagee on 20 February 2020 between 4pm and 7pm.
It is not expected that this extension will delay the ongoing process that we have kicked off to convert the draft marine licence into a full marine licence. DAERA will continue to process responses to the consultation process whilst simultaneously dealing with any additional information received during this extended period.
John Wood, CEO of InfraStrata, said: "We are delighted with the positive response that we have received during the consultation process. In order to accommodate further requests to attend and learn more about the Project, we have decided to extend the process. We remain confident that the marine license will be issued following due process. The extensive scientific work undertaken on the project clearly indicates that the project will comply with the regulatory framework that is currently in place."
For further information, please visit www.infrastrataplc.com or contact:
InfraStrata plc John Wood, Chief Executive
| c/o Newgate Communications +44 (0)20 3735 8825
|
Allenby Capital Limited (AIM Nominated Adviser & Joint Broker) Jeremy Porter / Liz Kirchner
| +44 (0)20 3328 5656 |
Arden Partners plc (Joint Broker) Paul Shackleton / Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking)
| +44 (0)20 7614 5900 |
Newgate Communications (PR) Elisabeth Cowell/ Ian Silvera/Jamie Williams
| +44 (0)20 3757 6880 |
Notes to editors:
InfraStrata is a London Stock Exchange-quoted group focused on strategic infrastructure projects.
The rapid development of the 100% owned Islandmagee Gas Storage Project is a core workstream for InfraStrata. It is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Ireland economy as a whole when complete. Given that the Committee on Climate Change has advised that the UK will still need a significant quantity of natural gas by 2050 - about 70% of today's consumption - the market opportunity for this project is compelling.
The Company also owns and operates the assets of Harland & Wolff in Belfast, where it will undertake the fabrication work for the Islandmagee project, as well as establish secondary revenue streams through the provision of services to the energy, maritime and defence sectors should such opportunities arise in future.
Mindful of the fact that safe, secure and flexible sources of energy are needed for a sustainable future, InfraStrata is focused on providing investors with exposure to a growing portfolio of UK, European and international energy infrastructure projects. With this in mind, the Company's highly experienced team is focused on acquiring, developing and commercialising innovative infrastructure projects around the world.
The Front-End Engineering & Design (FEED) and Insitu Downhole Testing programme for the Islandmagee Gas Storage Project is co-financed by the European Union's Connecting Europe Facility.
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