REG - Cindrigo Hldgs Ltd - Update on European Biomass Expansion

Cindrigo HoldingsAnnouncement

Today 16:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260402:nRSB3211Za&default-theme=true

RNS Number : 3211Z  Cindrigo Holdings Limited  02 April 2026

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.

 

2 April 2026

Cindrigo Holdings Limited

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

 

Update on European Biomass Expansion:

Joint Venture Discussions at Advanced Stage

 

Cindrigo Holdings Limited (LSE: CINH), a sustainable energy developer, is
pleased to provide an update on the expansion of its biomass operations, as
previously announced on 23 December 2025.

 

The Company is in advanced discussions with prospective partners regarding the
establishment of a biomass joint venture in Finland, which is intended to
support Cindrigo's strategy of developing an integrated biomass platform.

 

While the process has taken longer than initially anticipated, discussions
remain constructive and are progressing towards finalisation.

 

Danir AB ("Danir"), the Company's largest shareholder, has provided additional
support through guarantees in respect of a short-term loan facility of
approximately £400,000 to support the business through to completion of the
transaction. This continued support reflects Danir's confidence in the
Company's strategy and its understanding of the Group's biomass opportunity.

 

The Company looks forward to providing further updates in due course.

 

Biomass Expansion

Sustainable biomass provides reliable, non-intermittent, low-carbon heat and
power, particularly for industrial users, district heating networks and other
hard-to decarbonise sectors. Biomass power generation supports Europe's energy
transition and helps to improve energy security.

 

The Finnish biomass market is undergoing significant structural change, driven
by evolving industrial energy demand and increasing renewable power
generation. As coal is phased out, biomass is increasingly being deployed as a
transitional solution for existing power and heat infrastructure.

 

These dynamics are expected to support Cindrigo's planned expansion, and the
Board is encouraged by the level of interest and engagement from potential
joint venture partners to capitalise on the strong market opportunity.

 

 

Lars Guldstrand, CEO of Cindrigo, commented:

"We are pleased with the progress being made in advancing our biomass joint
venture strategy and are now at an advanced stage of discussions with
potential partners. Whilst the process has taken longer-than-anticipated to
conclude, we have great confidence in the significant opportunity ahead, which
we believe will give us a leading position in Finland's sustainable biomass
market.

 

"The European sustainable biomass market is experiencing strong structural
tailwinds as coal is phased out and demand increases for reliable, low-carbon
and secure heat and power. This is creating a clear opportunity for integrated
operators able to align production with end-user demand.

 

"Our strategy is to build a fully integrated sustainable biomass platform,
linking heat and power generation with biomass production. By doing so, we aim
to secure long-term offtake for our energy assets, strengthen operational
control and drive greater revenue visibility, while creating a scalable
platform for growth.

 

"This joint venture approach positions Cindrigo to capitalise on this
opportunity, and we look forward to updating the market further as discussions
conclude."

 

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 and X) 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)

 Charlotte Page / Paul Dulieu / 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 energy developer with a portfolio of projects that
support Europe's transition to a secure, affordable, and sustainable energy
future. This includes an integrated biomass operation in Finland and three
geothermal energy licences in Germany. Alongside this, the Company maintains
an active development strategy with several energy projects and licenses under
evaluation.

 

The Company has a clear vision to create shareholder value by delivering
secure, sustainable, affordable energy 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  UPDFLFLESDIFIIR



            Copyright 2019 Regulatory News Service, all rights reserved