REG - 80 Mile PLC - Strategic MOUs & 100% Ownership of Hydrogen Valley

80 MileAnnouncement

Tue 07:00

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RNS Number : 0198F  80 Mile PLC  28 October 2025

28 October 2025

80 Mile PLC Secures 3 Strategic MOUs with Fortune 500 Energy Group, Ludoil,
and JEnergy and moves to 100% of Ferrandina Biofuels Plant

80 Mile PLC ('80M' or the 'Company'), the AIM, FSE, and OTC listed exploration
and development company, is proud to announce a series of major commercial
developments at its Ferrandina biofuels facility in southern Italy,
("Ferrandina") underscoring the strong and growing demand for sustainable
aviation fuel ("SAF"), hydrotreated vegetable oil ("HVO"), and biodiesel
across Europe.

80M Assumes 100% Ownership of Hydrogen Valley:

The Company and Hydrogen Valley ("HV") have agreed to revised terms ("Revised
Terms") to the acquisition agreement announced 19(th) December 2024
(https://80mile.com/regulatory-news/75603
(https://80mile.com/regulatory-news/75603) ) governing the Ferrandina
ownership structure. Under the new arrangement, 80 Mile will increase its
interest in HV to 100%. Further details to the Revised Terms are noted below.

New MOUs:

Strategic MOU with Fortune 500 Energy Company:

In a landmark step, the Company's 100%-owned Greenswitch Srl ("Greenswitch")
has signed a Memorandum of Understanding ("MOU") with one of the World's
largest integrated energy companies (the "Group"), a publicly listed business
ranked in the top 10% of the Fortune 500. This entity is a globally
recognised, vertically integrated, leader in refining, petrochemicals and
logistics.

Under the terms of the MOU, the Group will supply up to 80,000 tonnes per
annum ("tpa") of renewable feedstocks to the Ferrandina plant beginning 1
November 2025. These will include Palm Oil Methyl Ester ("POME"), both crude
and refined, as well as Repurposed Used Cooking Oil ("RUCO"), delivered to the
port of Taranto, approximately 70 kilometres ("km") from the facility.

This guaranteed supply strengthens Ferrandina's commercial model, ensuring
reliable input for the production of biodiesel and SAF while positioning
Greenswitch as a cornerstone in Europe's transition to low-carbon energy.

Tolling MOU with Ludoil Energia - 50% of Plant Capacity Secured:

Greenswitch has signed an MOU with Ludoil Energia S.r.l. ("Ludoil"), based in
Civitavecchia, Italy.

·      The agreement sets the framework for a biodiesel tolling
arrangement, under which Ludoil will provide feedstock and HV will generate
revenue solely from processing.

·      No upfront feedstock purchases are required, eliminating working
capital risk.

·      The tolling structure is estimated to generate approximately €8
million net profit per year for HV. The other 50% of the capacity is estimated
to be double that for total of €24 million net (assuming full production)

·      The MOU provides for:

o  Plant restart planned for December 2025 with full production in January
2026

o  Annual quantities: 80,000 tpa of biodiesel in the short term, and 40,000
tpa of SAF longer term

With 80,000 tpa already secured under this tolling framework, Ludoil alone
covers 50% of the Ferrandina plant's permitted 150,000 tpa capacity, giving
the Company clear revenue visibility and validating the site's strategic
importance.

MOU with JEnergy S.p.A

Hydrogen Valley has also signed an MOU with JEnergy S.p.A ("JEnergy"),
headquartered in Rome, Italy.

·      Short-term framework for the supply of biodiesel and bioliquids

·      Longer-term discussions on SAF and HVO supply

·      Supply schedule:

o  Start of biodiesel supply: January 2026

o  SAF/HVO supply: 2027 onwards

·      Annual agreed quantities: 10,000 tpa of biodiesel, additional
bioliquids, and longer-term cooperation on SAF and HVO

Previously Announced MOUs:

NACATA Commodities

80M signed an MOU with NACATA Commodities as announced on 30 July 2025
("NACATA"), a leading renewable energy distributor, covering:

·      Up to 120,000 tpa of feedstock supply

·      Offtake of resulting products: 40,000 tpa of esterified bioliquid
and 80,000 tpa of biodiesel

·      Initial term: 5 years

Tecnoparco Valbasento

Greenswitch has also signed an MOU with Tecnoparco Valbasento ("Tecnoparco")
for the procurement of up to 40,000 tpa of biofuel from Greenswitch, for use
in its cogeneration units.

The agreement would shorten Tecnoparco's supply chain, reduce shipping costs,
and improve sustainability credentials by moving away from palm oil imports.
The initial 40,000 tpa could increase if Tecnoparco's affiliate industrial
operators are included.

 Counterparty              Agreement Type            Annual Quantities                                                             Products Covered
 Fortune 500 Energy Group  Feedstock Supply MOU      80,000 tpa feedstocks                                                         POME (crude/refined), RUCO
 Ludoil Energia            Tolling MOU               80,000tpa biodiesel (short-term), 40,000tpa SAF (long term)                   Biodiesel, SAF
 JEnergy S.p.A             Supply MOU                10,000 tpa biodiesel + bioliquids; SAF/HVO longer term                        Biodiesel, Bioliquids, SAF, HVO
 NACATA Commodities        Supply & Offtake MOU      120,000 tpa feedstock; 40,000 tpa esterified bioliquid; 80,000 tpa biodiesel  Bioliquids, Biodiesel
 Tecnoparco Valbasento     Product Offtake MOU       40,000 tpa biofuel (initial)                                                  Biofuel

 

Table 1: Offtake & Tolling Agreements

 

80 Mile 100% ownership of Hydrogen Valley Revised Terms

In consideration, for the move to 100% 80M has paid Greendome €100,000 and
will issue 220,000,000 new ordinary shares in the Company ("New Ordinary
Shares) to Greendome Holdings Inc ("Greendome") and assume additional deferred
payments to the original vendor.. If the value of these New Ordinary Shares
triple before June 30th, 2026, then no further payments will be due to
Greendome and the transaction under this Agreement shall be considered
completed. These shares are locked in until June 2026. Otherwise the following
will be payable;

1.     an amount equal to €750,000.00 (seven hundred, fifty thousand),
in cash by wire transfer of immediately available funds on Greendome Bank
Account to be made not later than the 30 June 2027;

2.     an amount equal to €750,000.00 (seven hundred, fifty thousand) to
be satisfied by the allotment of a number of New Ordinary Shares in 80M equal
to the 30 day VWAP

3.     an amount equal to €1,500,000.00 (one million, five hundred
thousand), to be satisfied 50% in cash by wire transfer of immediately
available funds into Greendome's bank account to be made no later than the 31
March 2028 and 50% by the allotment of the corresponding number of 80M Shares
(the "Third Shares").

As part of the transaction, an additional 10 million New Ordinary Shares will
be issued to Hydrogen Valley. In conjunction with the acquisition, Mr Mark
Frascongna, current Managing Director of HV, will join 80 Mile as Chief
Executive Officer of Italian operations in a non-board role. HV will become
the 100% owned subsidiary of 80M.

Hydrogen Valley Limited is incorporated in England & Wales and owns 100%
of Greenswitch S.r.l. Hydrogen Valley which reported a profit after tax of
£1,899,205 for the year ended to 30 June 2025.

Admission and Total Voting Rights

Application will be made to AIM for the 230,000,000 New Ordinary Shares to be
issued pursuant to the acquisition of Hydrogen Valley , which will rank pari
passu with existing Ordinary Shares, to be admitted to trading on AIM and it
is expected that Admission will become effective and dealing will commence on
or before 14(th)  November 2025

In accordance with the Disclosure Guidance and Transparency Rules, the Company
hereby notifies the market that immediately following Admission, its issued
and outstanding share capital will consist of 4,557,127,203 Ordinary Shares.
Shareholders may use this figure as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.

 

Eric Sondergaard, Managing Director of 80 Mile, added:

"These agreements mark a step change for the Ferrandina facility. Between
Ludoil, JEnergy, NACATA, Tecnoparco, and now one of the world's largest
integrated energy companies, we have clear evidence of the significant
industry interest in SAF and HVO development. Importantly, the tolling
arrangement with Ludoil already secures 50% of the plant's total capacity,
ensuring stable revenues while minimising working capital exposure.

"The calibre of counterparties now engaged with Ferrandina underlines its
strategic importance within Europe's renewable fuels supply chain. By
partnering with recognised leaders across the Italian and global energy
landscape, we are establishing Ferrandina as a key processing hub for
biodiesel today and laying the foundation for long-term growth in SAF and HVO.
With industry demand accelerating, Ferrandina is uniquely positioned to
support Europe's energy-transition goals."

 

About Greenswitch S.r.l

Greenswitch S.r.l. is a trailblazer in the renewable energy sector, dedicated
to producing high-quality biofuels that meet global energy needs while
prioritising environmental stewardship. The Ferrandina plant is a
state-of-the-art facility driving the transition to a sustainable, low-carbon
economy. For a high resolution flyover of the facility please follow this
link, https://youtu.be/xkXV2LYqJ4c (https://youtu.be/xkXV2LYqJ4c)

For further information please visit http://www.80mile.com
(http://www.80mile.com/)  or contact:

 Eric Sondergaard                                  80 Mile plc                          enquiry@80mile.com
 Ewan Leggat / Devik Mehta                         SP Angel Corporate Finance LLP       +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Harry Ansell / Katy Mitchell / Andrew de Andrade  Zeus Capital Limited (Joint Broker)  +44 (0) 20 3829 5000
 Megan Ray / Said Izagaren                         BlytheRay                            +44 (0) 20 7138 3204

(Media Contact)

                                                                                        80mile@blytheray.com (mailto:80mile@blytheray.com)

 

About 80 Mile Plc:

 

80 Mile Plc, listed on the London AIM market under the ticker 80M, Frankfurt
Stock Exchange, and the U.S. OTC Market under the ticker BLLYF, is an
exploration and development company focused on high-grade critical metals in
Tier 1 jurisdictions. With multiple projects in Greenland, as well as a
developing industrial gas and biofuels business in Italy, 80 Mile offers both
portfolio and commodity diversification focused on base metals, precious
metals, and industrial gas while expanding into sustainable fuels and clean
energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on
advancing key projects while creating value through partnerships and strategic
acquisitions.

80 Mile's acquisition of White Flame Energy and the Jameson licenses in East
Greenland has positioned the Company in one of the world's most compelling
undrilled hydrocarbon basins. Under its agreement with March GL, drilling of
two fully funded wells is set to commence, with Pelican Acquisition
Corporation's merger with Greenland Exploration valuing 80 Mile's retained 30%
interest in Jameson at approximately US$92 million. This acquisition and
partnership significantly expand 80 Mile's exposure to the energy sector while
advancing its strategy of developing both conventional and sustainable energy
opportunities.

The Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland is a primary
focus for 80 Mile, 100% owned by 80 Mile PLC. Seven priority targets
exhibiting spatial characteristics indicative of potential deposits on a scale
comparable to renowned mining operations such as Norilsk, Voisey's Bay, and
Jinchuan, will be advanced by the Company.

The Dundas Ilmenite Project, 80 Mile's most advanced asset in northwest
Greenland, is fully with a JORC-compliant Mineral Resource of 117 Mt at 6.1%
ilmenite and an offshore Exploration Target of up to 530 Mt. Dundas is poised
to become a major supplier of high-quality ilmenite. Recent discoveries of
hard rock titanium mineralisation, with bedrock samples showing nearly double
the ilmenite content of previous estimates, further enhance the project's
world-class potential. 80 Mile owns 100% of the Dundas Ilmenite Project under
its subsidiary Dundas Titanium A/S in Greenland.

80 Mile PLC has executed an asset purchase agreement with Amaroq Minerals Ltd.
(AIM, TSXV, NASDAQ Iceland: AMRQ) to divest its 100% interest in the
Kangerluarsuk zinc-lead-silver project in Greenland. Under the terms of the
agreement, 80 Mile will receive US$500,000 in Amaroq shares upon completion,
with a further US$1,500,000 payable in cash or shares upon the discovery of an
economic deposit, defined by a JORC or NI 43-101 compliant resource that
supports development.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and
uncertainties. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements, including with respect to
the initial public offering, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking statements. No
assurance can be given that the initial public offering will be completed on
the terms described, or at all, or that the net proceeds of the offering will
be used as described in the offering prospectus. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.

 

 

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