THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT
IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS
STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS
AMENDED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC
DOMAIN.
Igraine
plc
AQSE:
KING
("Igraine" or "the
Company")
Maiden Exercise of
Investment Rights Over GEM Energia Limited ("GEM
Energia")
Igraine plc (AQSE: KING), an investing company
focused on the development of battery energy storage and life
sciences sectors, is pleased to update its shareholders regarding
its exercise of investment rights with GEM
Energia.
As announced on 21 October
2024 and further to the announcement of 2 December 2024, Igraine secured the exclusive
investment rights over GEM Energia Limited and its Special Purpose
Vehicles, including a right of first refusal on all current and
future battery storage projects with GEM's
portfolio.
Strategic Partnership Signed with BES3 Holdings
Ltd ("BES3"), a wholly owned subsidiary of Green Energy Management
Ltd which is 100% owned by GEM
Energia.
Igraine has activated its initial funding facility
with Vela Technologies plc and has now formalised a binding
agreement with BES3, exercising its exclusive investment rights
under the collaboration with GEM Energia. This represents a pivotal
step in Igraine's strategic expansion into the energy
infrastructure sector, leveraging the increasing demand for
renewable energy solutions and grid stabilisation
technologies.
Both parties have
collaborated extensively to align on shared targets and ambitions
for 2025 and beyond. This includes the identification of the first
strategic site for development.
The first strategic development site is in the
Northwest of England, held in
BES3. The site, chosen after thorough strategic evaluation, is set
to advance to the Ready-to-Build ("RTB") stage. Leading the project
will be Andy Brown, a senior member
of GEM Energia's team with over 30 years of experience in complex
project delivery. His proven expertise ensures the project's robust
execution and alignment with Igraine's overarching growth
strategy.
Further details about the
site will be shared once a grid connection option has been secured.
GEM Energia already holds an agreement with the landowner, granting
them authority over the site. A considerable amount of pre-planning
work has already been undertaken, significantly de-risking the
project, making this site as the ideal starting point for the
partnership.
The GEM Energia team is
now actively engaged in discussions with a Distribution Network
Operator and National Grid to secure a grid connection option. Upon
securing this, the project will proceed through the planning
process to achieve RTB status.
We look forward to
providing shareholders with further updates as we progress with
this first partnership site between Igraine and GEM
Energia.
David Levis, Chief
Executive Officer, commented -
"This collaboration between Igraine and GEM
Energia marks an exciting milestone in the shared vision for
sustainable energy solutions. The selection of our first site
together in the North West of England is just the beginning of what we
believe will be a highly productive and rewarding
journey."
The Directors of the
Company, who have issued this RIS announcement after due and
careful enquiry, accept responsibility for its
content.
Enquiries
Company:
David Levis (Chief Executive
Officer)
David@igraineplc.com
Simon Grant-Rennick (Non-Executive
Chairman)
Simon@igraineplc.com
Steve Winfield (Non-Executive
Director)
Steve@igraineplc.com
Investor relations
: info@igraineplc.com
Aquis Growth Market
Corporate Adviser:
Peterhouse Capital
Limited
Tel: +44 (0) 207 469
0930