Voltage optimisation equipment firm Active Energy has acquired Bioenerho-Leader for an initial consideration of 40,000,000 new ordinary shares, priced at 7.5p each.
Bioenerho was established in October to provide biomass energy resources to industrial power facilities in Poland to reduce carbon emissions and assist the power facilities in complying with certain regulatory requirements governing the use of fossil fuels.
Chairman Gavin Little said: "We are very excited by this latest acquisition which is in line with our strategic plan and complements the activities of the Redline Engineering business and the repositioning of the company in the eco/energy management sector.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"I expect the acquisition will form a strong platform for the company in this fast-growing energy market. There are a number of Biomass Electricity Generation facilities in neighbouring countries, notably Poland, which are anticipated to come in to operation in the next twelve months which we would hope to generate orders from."
The company said it also hopes to secure additional contracts once orders are received from the initial supply contract.
The initial consideration for Bioenerho will be satisfied by the issue of the Consideration Shares. The Consideration Shares have been issued at a price of 7.5 pence per share.
The share price rose 20.83% to 3.62p by 09:21.
NR
-
The worst London boroughs to sell a second home as investors face £16k capital gains tax billProperty investors selling up in London are benefiting from a decade’s worth of house price rises, but for many it’s resulting in higher capital gains tax bills
-
UK to have highest inflation among advanced economies this year and next, says IMFThe International Monetary Fund (IMF) says it expects inflation to remain high in the UK, while lowering economic growth forecasts for 2026.
