–News Direct–
European Green Transition (LON: EGT) CEO Aiden Lavelle and CFO Jack Kelly joined Proactive's Stephen Gunnion as the company started trading on the London Stock Exchange after raising over 6.45 million, surpassing its initial target.
The funds are seen as a strong market endorsement of EGT's business model aimed at developing a green economy asset portfolio across Europe. This portfolio includes projects from metals refining and recycling to potential solar and wind assets, with a focus on acquiring distressed assets to complement their 100% owned projects. A key asset is the Olserum rare earth deposit in Sweden.
Lavelle, a chartered geologist with 16 years of industry experience, particularly in Sweden, highlighted the significance of rare earth elements in the green transition, noting their crucial role in high-efficiency motors, electric vehicle motors, and wind turbines. The market for these elements is expected to double over the next decade. The Olserum asset, with an initial focus on a historic resource of 7.8 million tonnes at 8.6% rare earth dioxide, is part of this strategic positioning.
Kelly outlined the company's M&A model focused on acquiring distressed and undervalued green economy assets in Europe, de-risking them, and then selling them with a structure that includes upfront cash and future royalty interests. The company has identified post-IPO M&A opportunities across critical minerals, wind, and solar projects, along with rehabilitation and processing projects.
EGT is currently exploring a range of these opportunities, including a mine and processing facility currently in administration and a potential rehabilitation project in Western Europe.
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Proactive UK
Proactive UK
+44 20 7989 0813
UKEditorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/european-green-transition-debuts-on-london-stock-exchange-with-strong-investor-support-553134374
European Green Transition PLC
COMTEX_450685420/2655/2024-04-11T07:02:20
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