8th Mar 2022 20:26
i(x) Net Zero PLC - St Helier, Jersey-registered investment firm focused on energy transition and sustainability - Says it has agreed to invest an additional USD1.5 million in cash in Enphys Management Co LLC, which is i(x) Net Zero's partnership with the Latin America Investment Group. Says investment is in line with commitment to accelerate the growth of its partner companies through the disbursement of capital. Following the initial payment, i(x) Net Zero's holding in EMC will increase by 3.5% to 14.5%.
Chief Executive Officer Steve Oyer says: "We are excited to collaborate with the EMC and LAIG teams and believe there are many opportunities to foster the next chapter of their strong track record of success in Latin America. EMC has tremendous potential to become the regional champion of energy transition and serve the increasing demand for renewable energy from a growing population in a sustainable manner. Overall, we believe this transaction will be accretive to i(x) Net Zero's net asset value."
Current stock price: 75.00 pence, down 1.3% from February's 76p IPO price
By Arvind Bhunjun; [email protected]
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