REG - Coro Energy PLC - Strategic Partnership MOU

Coro EnergyAnnouncement

03/07/2025 07:00

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RNS Number : 5030P  Coro Energy PLC  03 July 2025

3 July 2025

 Coro Energy Plc

("Coro" or the "Company")

 

Strategic partnership for advanced battery storage energy management

 

Coro Energy PLC, the South East Asian renewable energy developer, is pleased
to announce that it has signed a memorandum of understanding ("MOU") for a
strategic partnership with Threefold Energy Group Ltd ("Threefold Energy" or
"Threefold").

 

Threefold Energy is an energy technology company backed by Tier 1 global
partners. Threefold's services are centred on the deployment of
industry-leading Battery Energy Storage System ("BESS") hardware with
proprietary specification that is underpinned by Threefold's IP-protected
energy management platform. Threefold Energy enables businesses to
significantly reduce their energy costs and associated emissions. Focused on
the UK, European and South East Asian markets, it currently has 40MW in
development in commercial and industrial ("C&I") BESS projects.

 

Under the terms of the MOU the two companies will explore opportunities in
Vietnam and other South East Asian markets to increase the stand-alone
commercial benefits and performance of rooftop solar systems to C&I
customers by combining them with Threefold Energy's platform.

 

Tom Richardson, Chairman of Coro, commented:

 

"We are pleased to be partnering with a well-funded company backed by Tier 1
industry partners that has a track record of developing market-leading energy
management and storage solutions."

 

Luke Gamble, CEO of Threefold Power, commented:

 

"Coro has an established footprint in Vietnam with high quality assets and a
significant pipeline of C&I customers. We look forward to demonstrating
the significant additional value that Threefold Power can deliver from our
platform and hardware combination."

For further information please contact:

 Coro Energy plc                                          Via Vigo Consulting Ltd

 Threefold Energy Group                                    info@threefold.energy (mailto:info@threefold.energy)

 Cavendish Capital Markets Limited (Nominated Adviser)    Tel: 44 (0)20 7220 0500

 Adrian Hadden

 Ben Jeynes
 Hybridan LLP (Nominated Broker)                          Tel: 44 (0)20 3764 2341

 Claire Louise Noyce
 Vigo Consulting (IR/PR Advisor)                          Tel: 44 (0)20 7390 0230

 Patrick d'Ancona

 Finlay Thomson

 

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