REG - Ironveld PLC - Update on Power Generation Work Programme

IronveldAnnouncement

12/09/2022 07:01

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RNS Number : 0044Z  Ironveld PLC  12 September 2022

Ironveld Plc

("Ironveld" or the "Company")

Update on Power Generation Work Programme

Ironveld is pleased to announce that the project development and engineering
teams from Enernet Global Inc ("Enernet") have been working closely with the
Company to develop an optimised hybrid power plant that will deliver clean,
reliable and low cost power for the smelter facility in Rustenburg. Detailed
design is underway for the innovative hybrid system which will include solar,
battery storage and gas generation and will operate in 'islanded mode', off
the South African grid. Enernet will fully finance the power plant and sell
energy through a power purchase agreement to Ironveld.

 

The first stage of the service is underway with a 1MW pre-operations power
facility that will enable Ironveld to test and re-commission the smelter.
Enernet will complete installation of the pre-operations power in September
2022.

 

For further information, please contact:

 

 Ironveld plc                            c/o BlytheRay

 Martin Eales, Chief Executive Officer   020 7138 3204

 finnCap (Nomad and Broker)              020 7220 0500

 Christopher Raggett

 Charlie Beeson

 Turner Pope (Joint Broker)              020 3657 0050

 Andy Thacker

 James Pope

 BlytheRay                               020 7138 3204

 Megan Ray

 Tim Blythe

 

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