Kibo Energy PLC Operational Update: Q2 2023 (6478E)
03 Julio 2023 - 1:00AM
UK Regulatory
TIDMKIBO
RNS Number : 6478E
Kibo Energy PLC
03 July 2023
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 03 July 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Operational Update: Q2 2023
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy
focused development company, is pleased to provide an operational
update as it enters the second half of 2023. This follows its
update as provided in a Company RNS dated 6 April 2023.
Portfolio
The Kibo Group strategy, as previously announced in a Company
RNS dated 19 April 2021, is focused on developing, owning and
operating sustainable energy solutions that can immediately and
progressively address the acute energy challenges in sub-Saharan
Africa, the United Kingdom and Ireland.
The table below indicates the status of Kibo's project portfolio
at present. Timelines beyond Q3 2023 remain as advised on 6 April
2023 and the Company will advise should these change in light of
the below. This does not include opportunities that are currently
the subject of advanced due diligence and commercial
consideration.
Kibo Group Project Portfolio
----------------------------------------------------------------------------------------------------------------------
Entity Kibo Strategic Projects Development Current Status
Equity Domain Status
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
MAST Energy 57.86% Reserve Pyebridge Operational CM T-1 contract
Developments Power (9 MW) and generating scheduled to begin
(UK) revenue on 1 October 2023
(see MED Results
for the year ended
31 December 2022
as per the MED RNS
dated 28 April 2023)
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
Bordesley Advanced In construction
(5 MW) project development and commissioned
by Q4 2023 (see
MED Results for
the year ended 31
December 2022 as
per the MED RNS
dated 28 April 2023)
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
Rochdale (4.4 Advanced Planning consent
MW) project development granted in Q2 2023
(see MED Results
for the year ended
31 December 2022
as per the MED RNS
dated 28 April 2023)
--------------------- --------------------- ---------------------------------
Hindlip Lane Concept stage EPC and O&M contracts
(7.5 MW) under review, further
updates to follow
(see MED Results
for the year ended
31 December 2022
as per the MED RNS
dated 28 April 2023)
--------------------- --------------------- ---------------------------------
Stather Road Concept stage EPC and O&M contracts
(2.5 MW) under review, further
updates to follow
(see MED Results
for the year ended
31 December 2022
as per the MED RNS
dated 28 April 2023)
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
Sustineri 65% Waste CHP project Phase 1 (2.7 Advanced - Laboratory
(SA) to Energy to supply MW + study project tests received
base-load on synthetic development and confirm
electricity oil production) stage - oil quality
generation financial standards
in South Africa close ready of offtaker
with 4 revenue - Supplier's
streams: sustainability
electricity, standards
gate fees assessments
and potentially are currently
from heat underway
and steam - Integration
output as study is
well as the being undertaken
production to align
of synthetic test results
oil with feedstock
characteristics
in preparation
for financial
close -
Integrated
Environmental
Authorisation
(EA) has
been granted
-------------- -------- ----------- --------------------- --------------------- ------------- ------------------
Phase 2 (targeted Pre-concept Milestones
20 MW) stage TBD once
Phase 1
has been
executed
-------------- -------- ----------- --------------------- --------------------- ------------- ------------------
National 51% Long Simultaneous Status remains unchanged
Broadband Duration 12.3 MW in concept and from last update.
Solutions Energy development commercial
(SA) Storage development
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
36.32 MW target Under assessment
for development
-------------- -------- ----------- --------------------- --------------------- ------------- ------------------
Mbeya Power 100% Biofuel 300 MW short-term Original TANESCO due diligence
Project conversion project. on Kibo as part
('MPP') to renewable of the MOU programme
(TZ) energy biofuel Fully permitted currently underway.
with Bankable
Feasibility
Study completed
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
UK Portfolio 100% Waste Southport Funding constraints, Status remains unchanged
to Energy (10 MW, 2 notably as from last update.
MW long-duration the results
energy storage of delays
and caused by
5.5m m(3) shareholders
bio-methane) not being
able to cast
their votes,
resulted
in no, other
than in-house
project planning,
work being
performed
-------------- -------- ----------- --------------------- --------------------- ---------------------------------
All funding activities, including the Company's proposed
AIM-listed vehicle Ultimate Sustainable Energy ('USE'), were placed
on hold due to delays as a result of EGM difficulties where
shareholders were unable to cast their votes, which was partially
resolved at the most recent EGM (see RNS dated 16 March 2023).
Louis Coetzee, CEO of Kibo Energy, says: "We are pleased with
the overall progress during the last quarter, and we look forward
to updating the market during the course of Q3 on a number of
exciting initiatives currently underway on both operational as well
as corporate level".
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
**ENDS**
For further information please visit www.kibo.energy or
contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive
Officer
James Biddle +44 207 628 3396 Beaumont Cornish Nominated Adviser
Roland Cornish Limited
------------------------------ ----------------------- ----------------------
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
------------------------------ ----------------------- ----------------------
Damon Heath +44 207 186 9952 Shard Capital Partners Joint Broker
LLP
------------------------------ ----------------------- ----------------------
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media
van Rijmenant Relations Consultant
------------------------------ ----------------------- ----------------------
Johannesburg
3 July 2023
Corporate and Designated Adviser
River Group
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END
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