REG - i(x) Net Zero PLC - New investee company

I (X) Net ZeroAnnouncement

25/09/2023 13:45

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RNS Number : 5605N  i(x) Net Zero PLC  25 September 2023

 The information contained within this Announcement is deemed by i(x) Net
Zero plc to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").

 

25 September 2023

i(x) Net Zero PLC

 

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

 

i(x) Net Zero commits US$0.6 million in new investee company

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the
Energy Transition, is pleased to announce that it has added an additional
company to its portfolio via a $600,000 investment into Citron Energy Inc
("Citron Energy"), a US based alternative fuels business.

 

Citron Energy aims to replace the use of fossil fuels by processing
non-recyclable municipal and commercial waste into a combustable fuel. The use
of CitronFuel will allow the replacement of coal as well as helping to reduce
landfill usage and significantly lower CO2 emissions. The $600,000 investment
will be in the form of a subscription for new shares in Citron Energy and will
result in i(x) Net Zero owning approximately 34% of Citron Energy. Jonathan
Stearns, the Company's Chief Financial Officer, has a non-controlling holding
in Citron Energy and is the chairman of Citron Energy.

 

Pär Lindström, Chief Executive Officer of the Company, said: "I am delighted
to be adding to our portfolio with the investment in Citron Energy which will
bring innovative cleantech technology to the US and support the development of
a platform that supplies low-carbon, high-BTU alternative fuels to decarbonize
industrial production and support the circular economy."

 

 

- 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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