REG - i(x) Net Zero PLC - i(x) Net Zero investment in SLI

I (X) Net ZeroAnnouncement

16/06/2023 07:00

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RNS Number : 9195C  i(x) Net Zero PLC  16 June 2023

 

16 June 2023

i(x) Net Zero PLC

 

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

 

i(x) Net Zero invests $150,000 into Sustainable Living Innovations

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the
Energy Transition, is pleased to announce that it has agreed to invest an
additional $150,000 via an Unsecured Convertible Promissory Note, a form of
convertible debt, in Sustainable Living Innovations ("SLI").

 

In May 2022, i(x) Net Zero participated in SLI's US$53 million accelerated
growth round, to allow the company to further expand in the US, while
completing its conversion from a limited liability company to a C Corporation.
The follow-on investment protects the Company's interest in SLI as it moves
towards an IPO, which is expected to occur in the fourth quarter this year.

 

SLI is a building technology and product development company producing
panelised buildings to address housing affordability, while delivering a new
standard in sustainable living. SLI is due to complete and deliver its second
and third buildings this year in Seattle. 303 Battery is a 15-story, 112-unit
building that has been pre-certified by the International Living Building
Institute as Net Zero Energy; it will be the first apartment tower in the
world to achieve Net Zero Energy designation from the International Living
Building Institute. DESC Greenlake is a 5-story, 124-unit building that began
construction in 2022 in contract with Seattle's Downtown Emergency Service
Center ("DESC"), a non-profit organization dedicated to serving homeless and
the formerly homeless. The building is a Permanent Supportive Housing project
and once completed is expected to include services such as healthcare and
counseling.

 

Pär Lindström, Chief Executive Officer of the Company, said: "We are very
pleased to have the opportunity to support SLI as it continues to innovate in
the field of sustainable accommodation. We look forward to working closely
with the team at SLI to support their deSPAC transaction and demonstrate
further growth for our shareholders in the i(x) Net Zero portfolio."

 

- 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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