Gneiss Energy is delighted to have acted as adviser to our client Renergen (REN:JSX / REN:ASX) who have announced today that the state-owned Central Energy Fund has entered into a term sheet to invest R1bn into Tetra4 Proprietary Limited (“Tetra4”).
Tetra4 is 100% owner of the Virginia Gas Project (“the Project”) and the proceeds of the investment will be used by Renergen to progress the development of Phase 2 of the Project. This major investment will see Central Energy Fund take a 10% stake in Tetra4.
Sefano Marani, CEO of Renergen, said, “The future is bright for Renergen and shareholders should be very excited by what we are building. Virginia will play a critical role in the future supply of clean energy as well as in-demand helium.”
For more info, click on the press release.
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