REG - Cindrigo Hldgs Ltd - Geothermal Licence Extension & Federal Programme

Cindrigo HoldingsAnnouncement

23/12/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251223:nRSW5599Ma&default-theme=true

RNS Number : 5599M  Cindrigo Holdings Limited  23 December 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

23 December 2025

Cindrigo Holdings Limited

("Cindrigo", the "Company" or the "Group")

 

Geothermal Licence Extension

and Launch of Federal Support Programme

 

Weinheim licence extension completes acquisition of three German geothermal
licences as federal support programme is launched

 

Cindrigo Holdings Limited (LSE: CINH), an integrated renewable energy company,
is pleased to announce that the exploration licence relating to its German
geothermal project, Weinheim, has been extended by three years to 30 November
2028. Weinheim is one of three geothermal licences being developed by Cindrigo
in the Upper Rhine Valley, a well-established geothermal production area in
Germany.

 

All three licences have now been extended in accordance with the Investment
Agreement between Zukunft Geoenergie GmbH ("ZGG"), and CGEO Cindrigo
Geothermal Limited ("CGEO"), a 100% owned subsidiary of the Company. As a
result, Cindrigo's acquisition of an 85% interest in ZGG, which holds the
licences, has now become unconditional.

 

Cindrigo also notes that on 18 December 2025, the German federal development
bank KfW Group, together with insurance company Munich Re and the German
Federal Ministry for Economic Affairs and Energy, officially launched a new
programme for Germany to support the development of deep geothermal energy
projects for municipal and industrial heat supply.

 

The "KfW Geothermal Support Loan" assists with the financing of geothermal
drilling projects and provides insurance against the risks associated with
drilling. Loans of up to €25 million per project are available, with a
maximum term of five years. Cindrigo intends to apply for these loans as it
advances the development of its three geothermal licences.

 

The Weinheim, Worms and Eich licences collectively cover approximately 125
km² and are to be developed on a staged basis, targeting c.300 MW of capacity
across district heating, electricity generation and lithium extraction.

 

Lars Guldstrand, CEO of Cindrigo, commented: "Germany is one of the
fastest-developing geothermal markets in Europe and we are delighted to be
advancing three strategic licences at this opportune time.  The launch of the
KfW Geothermal Support Loan highlights Germany's significant support for
geothermal development as the German Government aims to deliver on a national
objective to produce 10 TWh of geothermal energy by 2030, which will require
more than 100 new geothermal plants to be developed.

 

"The federal support programme is significant; it greatly supports the
drilling while mitigating the risk, and affirms clear end-user demand. It is
our intention to utilise this funding support as much as possible to advance
our three projects on a staged basis. This extension is symbolic as it also
marks the final step in concluding our acquisition of our three German
geothermal projects. We are looking forward to progressing this portfolio in
2026 alongside our growing biomass operations in Finland."

 

KfW Geothermal Support Loan

 

The KfW Geothermal Support Loan forms part of the Germany Fund
(Deutschlandfonds), initiated by the Federal Ministry of Finance, the Federal
Ministry for Economic Affairs and Energy, and KfW. The fund deploys various
financing instruments to create state-backed incentives that mobilise private
capital for investment in key future sectors of the German economy.

 

Structure of the Programme

The innovative programme addresses two core challenges:

1.  Financing support for geothermal drilling projects at depths of 400
metres or more in Germany through low-interest KfW loans

2.   Risk mitigation, covering the exploration (resource) risk associated
with geothermal drilling

 

Financing Terms

·      KfW provides loans of up to €25 million per project

·      Maximum loan term: five years

·      The loan must be secured by insurance coverage or partial debt
forgiveness

·      The Federal Government provides funding for the risk mitigation
component

 

Project overviews for preliminary review can be submitted with immediate
effect.

 

Role of Munich Re

Munich Re assesses projects for insurability and technical feasibility.
Following a positive assessment of minimum requirements, a detailed project
review is conducted. If this assessment is also positive, KfW issues an
invitation to submit a formal loan application.

·      Munich Re insures 30% to 70% of the loan amount

·     For the uninsured portion, KfW grants partial debt forgiveness in
the event of loss (e.g. non-discovery), under the same conditions as the
insurance contract

·      This structure allows project sponsors to secure up to 100% of the
loan amount

 

Broader Impact

The new support programme makes a significant contribution to expanding heat
infrastructure and strengthening security of energy supply in Germany.

 

KfW will shortly expand its "Investment Loan for Municipal and Social
Enterprises" to include investments in efficient heat and power supply
systems. This will enable continued financing for the construction of
geothermal plants following successful drilling.

 

 

**ENDS**

 

To sign up for future news and updates from the Company please subscribe here:
https://www.cindrigo.com/mailing-list/
(https://www.cindrigo.com/mailing-list/)

 

For further information, please visit www.cindrigo.com
(http://www.cindrigo.com) , follow us on social media (LinkedIn
(https://www.linkedin.com/company/cindrigo/posts/?feedView=all) and X
(https://x.com/CindrigoH) ), or contact:

 

Cindrigo Holdings Limited

Lars Guldstrand,
CEO
lg@cindrigo.com

Beaumont Cornish Limited (Sponsor)

Roland Cornish / Asia Szusciak / Andrew Price        Tel: +44 (0)207
628 3396

Capital Plus Partners Limited (Broker)

Jonathan
Critchley
Tel: +44 (0)207 432 0501

St Brides Partners (Financial PR)

Paul Dulieu / Charlotte Page / Will Turner
cindrigo@stbridespartners.co.uk (mailto:cindrigo@stbridespartners.co.uk)

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Sponsor as
defined in the FCA UK Listing Rules and is authorised and regulated by the
FCA. Beaumont Cornish Limited is acting exclusively for the Company and for no
one else in relation to the matters described in this announcement and is not
advising any other person and accordingly will not be responsible to anyone
other than the Company for providing the protections afforded to clients of
Beaumont Cornish Limited, or for providing advice in relation to the contents
of this announcement or any matter referred to in it.

 

Notes

Cindrigo is a sustainable baseload energy producer and developer that is
building a high capacity, clean baseload power generation portfolio across
Europe. This includes an integrated biomass operation in Finland and three
geothermal energy projects in Germany. Alongside this, the Company maintains
an active development strategy with several additional renewable energy
projects and licenses under evaluation.

 

Cindrigo has a clear vision to create shareholder value by delivering clean
baseload power solutions that address two global priorities: meeting rising
energy demand while improving environmental outcomes.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBIBDDXXDDGUD



            Copyright 2019 Regulatory News Service, all rights reserved