Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSabien Tech. Regulatory News (SNT)

Share Price Information for Sabien Tech. (SNT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 12.50
Bid: 12.00
Ask: 13.00
Change: 0.00 (0.00%)
Spread: 1.00 (8.333%)
Open: 12.50
High: 12.50
Low: 12.50
Prev. Close: 12.50
SNT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Licence agreement with Proton Technologies

11 Nov 2021 07:00

RNS Number : 0160S
Sabien Technology Group PLC
11 November 2021
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

11 November 2021

 

Sabien Technology Group plc

("Sabien" or the "Company")

 

Licence agreement with Proton Technologies Canada Inc.

The Board of Sabien Technology Group plc (AIM:SNT), a Company focused on building a portfolio of solutions in the heating, cooling, and transportation sectors, announces today that it has signed heads of terms ("HOT") with Proton Technologies Canada Inc., ("Proton") in relation to a hydrogen processing licence within UK territories.. The key elements of the HOT are:

· A license for Sabien to produce 20 tonnes of hydrogen per day, expandible by future agreement to higher volumes, generated using Proton's technology, to process:

o Suitable oil fields located Onshore United Kingdom (Great Britain and Northern Ireland) and offshore within UK Territorial Waters ("the Territory"), and/or

o Oil output by City Oil Field ("COF") facilities in the Territory.

 

· Proton to provide all necessary technical assistance to validate suitable sites and to provide advice on establishing and operating the installation

 

· Consideration of £100,000 in cash; and

 

· 280,000 warrants to be issued with exercise price of 60 pence per ordinary share of 3 pence each ("Ordinary Shares") with an expiry date of 19 February 2023. These quantum of warrants was agreed as if the £100,000 cash consideration was paid in shares on a 1:1 basis at a share price of 35.7p

 

In addition, the HOT include the option for Proton to install a 24 tonnes/day recycling plant on its site in Saskatchewan using the COF process licenced to Sabien to convert plastic waste to synthetic oil.

 

The HOT are subject to:

· Completion of a mutually acceptable Intellectual Property Licence agreement;

· Regulatory approval for the installation and operation of a COF facility at Proton's Saskatchewan site;

· Payment of the Consideration; and

· Completion of a mutually acceptable commercial agreement between Proton and Sabien regarding the COF installation.

 

In the course of its due diligence in support of this licence agreement, the Board of Sabien commissioned a report from JS Global Advisory into the likely benefits from Proton's Clear H2 Process. This report concluded that this process "has the potential to be a significant step forward for the Onshore UK Energy Transition Process" and also validated that there are suitable sites within the territory of the licence agreement.

 

Commenting on the Proton licence deal, Richard Parris, Executive Chairman, said:

"Sabien is delivering on its strategy of building a portfolio of operations which, in combination, provide critical elements of the transition to a Green Economy. Following Sabien's initial investment in Proton announced 14 October 2021, the Board is pleased to have secured a significant licence deal with Proton. Proton's technology is likely to prove important in the development of hydrogen as a major sustainable energy source. Alongside other investments and partnerships with operators in areas such as HVAC efficiency, waste plastic recycling into fuel oil, and high-speed electric motors, I believe that Sabien is emerging as a champion for the Green Economy. We look forward to working with Proton and to building further on our successful portfolio approach."

Further Information:

Sabien Technology Group plc

Richard Parris, Executive Chairman

 

+44 20 7993 3700

 

Allenby Capital Limited (Nominated Adviser)

John Depasquale / Nick Harriss

 

+44 203 328 5656

Peterhouse Capital Limited (Broker)

Duncan Vasey / Lucy Williams

+44 207 469 0930

 

The person who arranged for the release of this announcement on behalf of the Company was Richard Parris, Executive Chairman.

A copy of this announcement will be available from the Company's website at www.sabien-tech.com

Further information on Proton Technologies Canada Inc., can be viewed at Lowest cost Hydrogen with Zero Emissions. (proton.energy)

A copy of the JS Global Advisory report is available on the Company's website at  https://sabien.com/wp-content/uploads/2021/11/Clear-Hydrogen-in-UK-.pdf

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGREANFEFLSFFFA
Date   Source Headline
28th Mar 20242:30 pmRNSDirector/PDMR Shareholding
8th Mar 20247:00 amRNSHolding(s) in Company
6th Mar 20247:00 amRNSHolding(s) in Company
5th Mar 202411:52 amRNSHolding(s) in Company
29th Feb 20245:00 pmRNSTotal Voting Rights
21st Feb 202411:27 amRNSResult of Broker Option, Issue of Equity and TVR
20th Feb 20243:45 pmRNSDirector/PDMR Shareholding
19th Feb 20247:45 amRNSPlacement and Broker Option
19th Feb 20247:30 amRNSHalf-year Report for the 6 months to 31 Dec 2023
7th Feb 20247:00 amRNSNew system installed at Hampton Court Palace
9th Jan 20247:00 amRNSTrading Update
29th Nov 20231:00 pmRNSResult of AGM
29th Nov 20237:30 amRNSAGM Statement
21st Nov 20231:30 pmRNSHolding(s) in Company
3rd Nov 20234:50 pmRNSHolding(s) in Company
2nd Nov 20231:34 pmRNSHolding(s) in Company
2nd Nov 20237:00 amRNSFinal Results & Annual Report & Accounts for 2023
1st Nov 20237:15 amRNSUpdate on 2023 Audited Accounts
4th Oct 20237:00 amRNSM2G Rollout in US
26th Sep 20237:00 amRNSProton Technologies
22nd Sep 20236:00 pmRNSHolding(s) in Company
6th Jul 20237:00 amRNSTrading Update
8th Jun 20237:00 amRNSM2G Business Update
16th May 20237:00 amRNSFurther update on b.grn and related matters
17th Apr 20237:00 amRNSUpdate on b.grn
13th Apr 20239:15 amRNSHolding(s) in Company
6th Apr 20237:00 amRNSDirector/PCA Shareholding
5th Apr 20235:00 pmRNSDirector/PDMR Shareholding
31st Mar 20237:00 amRNSInterim Results for the 6 months to 31 Dec 2022
28th Mar 20237:00 amRNSMaterial M2G Order & Business Update
27th Mar 20237:00 amRNSM2G supports Empiric on net zero goals
10th Mar 202311:33 amRNSHolding(s) in Company
10th Mar 202311:30 amRNSHolding(s) in Company
10th Mar 20237:00 amRNSMaterial M2G order and M2G trading update
28th Feb 20232:45 pmRNSHolding(s) in Company
6th Feb 20234:30 pmRNSHolding(s) in Company
2nd Feb 20234:51 pmRNSHolding(s) in Company
22nd Nov 202212:00 pmRNSResult of AGM
22nd Nov 20227:30 amRNSInvestor Update & Annual General Meeting Statement
18th Nov 20221:46 pmRNSHolding(s) in Company
10th Nov 20227:00 amRNSInvestor Update Presentation
2nd Nov 20227:00 amRNSSupply of UK's First Regenerative Green Oil System
24th Oct 20227:00 amRNSOrder Update – New Channel Partner & Customer
17th Oct 20222:47 pmRNSHoling(s) in Company
17th Oct 20221:54 pmRNSHolding(s) in Company
17th Oct 20227:00 amRNSInternational Environmental Trae Summit Upate
17th Oct 20227:00 amRNSHoling(s) in Company
17th Oct 20227:00 amRNSInternational Environmental Trade Summit Update
17th Oct 20227:00 amRNSHolding(s) in Company
14th Oct 20227:00 amRNSFinal Results for the Year to 30 June 2022

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.