REG - i(x) Net Zero PLC - Enphys proxy statement and letter of intent

I (X) Net ZeroAnnouncement

25/08/2023 07:30

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RNS Number : 4546K  i(x) Net Zero PLC  25 August 2023

25 August 2023

i(x) Net Zero PLC

 

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

 

i(x) Net Zero investment Enphys Acquisition Corp. Files Preliminary Proxy
Statement and Announces Non-Binding Letter of Intent to Acquire Advanced
Biofuels Company

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the
Energy Transition, announces that Enphys Acquisition Corp. (NYSE: NFYS,
"Enphys") has filed a preliminary proxy statement in connection with an
extraordinary general meeting of shareholders of Enphys for the purpose of,
among other things, extending the time by which it has to consummate an
initial business combination from October 8, 2023 to July 8, 2024 (the
"Extension"), as well as other documents filed by Enphys with the U.S.
Securities and Exchange Commission. The Extension is subject to approval by
Enphys shareholders and a further announcement will be made in due course.

 

Enphys has also signed a non-binding letter of intent for a business
combination with a leading and well-established advanced biofuels company in
Latin America (the 'Target').

 

i(x) Net Zero owns 30% of Enphys Management Company ("EMC"), which has a
direct ownership in Enphys Acquisition Sponsor, LLC ("EAS"), the sponsor
company of Enphys Acquisition Corp., a NYSE-listed SPAC targeting renewable
energy businesses in Latin America, in which EAS has a direct ownership.

 

No assurances can be made that the Company and the Target will successfully
negotiate and enter into a definitive agreement regarding a business
combination. Any transaction would be subject to board and equityholder
approval of both Enphys Acquisition Corp. and the Target, regulatory approvals
and other customary closing conditions.

 

 

Pär Lindström, Chief Executive Officer of the Company, said: "We believe
that Enphys has significant growth potential and we are supporting the company
as it looks to establish itself as a leading biofuels operator in the
alternative energy sector in Latin America."

 

- 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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