RCS - i(x) Net Zero PLC - SLI – Business Update

I (X) Net ZeroAnnouncement

04/10/2023 07:15

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RNS Number : 5921O  i(x) Net Zero PLC  04 October 2023

REACH

 

04 October 2023

i(x) Net Zero PLC

 

("i(x) Net Zero" or the "Company")

 

Sustainable Living Innnovations - Business Update

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the
Energy Transition, announces that, further to the announcement on 10 March
2023, its portfolio company Sustainable Living Innovations, Inc. ("SLI"), will
no longer consummate an initial business combination with Churchill Capital
Corp V. The previously disclosed non-binding letter of intent between the two
parties has been terminated in accordance with its terms.  SLI will pursue
alternative options that can support its plans to address sustainable housing
affordability.

i(x) Net Zero has an indirect 0.1% interest in SLI which is held though
MultiGreen SLI Partners, LP and and a $150,000 Unsecured Convertible
Promissory Note. As of 30 June 2023, i(x) Net Zero carried its investment in
SLI at a NAV of $0.77m, which when combined with the promissory note,
represents 0.6% of Company NAV.

 

- Ends -

 

 

 

For further information visit https://ixnetzero.com/
(https://url.avanan.click/v2/___https:/ixnetzero.com/___.YXAzOml4bmV0emVybzphOm86N2IwNzI5ZjFjNmRmYzY5Yjg5ODRhOGZiZWRiYWVmOTk6NjoyMjBhOjRmMGM4Yjg2ZmVkOWZiMzQwN2MwYjQ5ZDVjM2Q0N2I5ZjdmYjRmNDZmYTQ1NjM4Y2NkYTkwYmVjZGEyZTA4YWM6cDpU)
 or contact:

 i(x) Net Zero                              Via Buchanan below
 Pär Lindström - Chief Executive Officer

 Canaccord Genuity Limited                  +44 20 7523 8000

 Nominated Adviser & Broker
 Max Hartley
 Harry Pardoe

 Buchanan
 Helen Tarbet                               +44 7872 604 453
 Simon Compton                              +44 7979 497 324

 

 

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that seeks to provides
its shareholders with the opportunity to create long-term capital growth with
positive, scalable, measurable and sustainable impact on the environment and
on the communities it serves.

 

In accordance with its belief that the world's biggest problems are also the
biggest market opportunities, i(x) Net Zero focuses on two critical areas in
which it aims to make a positive impact: (i) Energy Transition and (ii)
Sustainability in the Built Environment.

 

The Company uses a multi-strategy investment approach, providing the companies
in which it invests with the expertise and catalytic capital to help them
grow. To date, i(x) Net Zero has invested in biofuels, direct air capture
(carbon removal), renewable energy, sustainable workforce housing and net zero
construction technology.

 

i(x) Net Zero is a  signatory to the UN Principles for Responsible
Investing.

 

The Company has received the London Stock Exchange's Green Economy Mark.

 

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