3rd Nov 2023 10:35
(Alliance News) - i(x) Net Zero PLC on Friday said its subsidiary entered into a restated two-year term loan facility.
The investor in energy transition said its subsidiary i(x) Investments LLC entered into the facility with European Depositary Bank SA, increasing its loan facility by USD4.3 million to USD11.8 million from USD7.5 million, up 57%.
i(x) Net Zero Chief Executive Officer Par Lindstrom said: "The increased loan facility will allow management to maintain its focus on scaling the business, following the recent addition of Citron Energy to the portfolio. We are actively looking at a number of opportunities in the green energy sector both in and outside of the existing portfolio. We are focused on businesses where we believe we can deploy our hands-on strategic management, resources and infrastructure, helping to build and develop these investments into successful contributors towards a net zero future."
i(x) Net Zero shares were flat at 16.00 pence each on Friday morning in London.
By Tom Budszus, Alliance News reporter
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