23 Dec 2019 07:35
Regency Mines PLC
("Regency" or the "Company")
Energy Storage: Strategic Partnership MOU
23 December 2019
Regency Mines Plc (LON: RGM) the battery metals and energy storage company announces the execution of a memorandum of understanding ("MOU") with ion Ventures Ltd ("IV"), an investor in and developer of energy storage and flexibility assets. Regency is strategically focused around battery metals, including its flagship Mambare nickel-cobalt project and its UK distributed energy storage and production business.
Under the MOU the parties have agreed to partner on Regency's existing pipeline of projects, with a view to identifying and prioritising the most commercially attractive projects, securing funding and then moving quickly to first cash flow. IV will support the Company, initially on a consultancy basis and will be issued shares in Regency as consideration. It is expected IV will become a long-term strategic partner to the company, supporting the development of UK energy storage business, and enabling Regency to progress rapidly to first project cash flow.
Hassen Bali, Co-founder of ion Ventures, commented: "There is a clear requirement for energy storage to be integrated into the UK's energy system, particularly as we move toward net-zero emissions by 2050. High quality assets will always be sought after and the partnership between Regency and ion is exciting in its potential to address this requirement."
Scott Kaintz, Regency CEO, commented: "The Executive team at Regency are delighted to introduce ion Ventures as a strategic partner to the business. ion has a deep project pipeline of energy storage and distributed energy projects in the UK, has comprehensive experience commercialising assets in the sector, and provides Regency line of sight on first project cash flows."
About ion Ventures
Leveraging over 50 years of collective experience within the team, alongside the extensive capabilities of our partners and supply chain, ion Ventures delivers expertise tailored to each engagement and opportunity. At the forefront of the rapidly evolving way energy systems are designed, implemented and operated, where appropriate use of technology and commercial structures are critical, ion Ventures is ideally placed to partner and deliver solutions to address the complex challenges arising from the energy transition. ion
Development
ion Ventures has significant experience in designing and implementing flexible generation and operational solutions from a system down to a project level, extending to regulatory and policy input:
o Development, construction and operation of >600MW of distributed generation, utilising legacy peaking plant, solar PV and energy storage
o Hybrid generation for off-grid, islanded and micro-grid conditions
o Demand Side Response implementations delivering flexibility services both in front and behind the meter
o Network optimisation software and management solutions
Advisory and Consulting
ion Ventures provides bespoke services covering the following:
o Engagements with distribution and transmission utilities, focussed on integrating energy storage, flexible generation and network optimisation into power networks
o Supporting asset and project development throughout or at any stage of the lifecycle
o Technology selection and sourcing
o Commercial support for key stages of project development and asset operation
o Linking appropriate finance to projects and asset portfolios
o Regulatory and policy advice
More information can be found at www.ion.ventures
For further information, please contact:
Scott Kaintz 020 7747 9960 Director Regency Mines Plc
Roland Cornish/ Rosalind Hill Abrahams 020 7628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 020 7374 2212 Broker First Equity Limited
This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.