REG - Tlou Energy Ltd - Results of AGM and Chairman's Address

TLOU EnergyAnnouncement

24/11/2021 07:00

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RNS Number : 3505T  Tlou Energy Ltd  24 November 2021

24 November 2021

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Results of Annual General Meeting and Chairman's Address

 

 

Tlou Energy Limited is focussed on delivering secure, sustainable, and clean
power solutions in Botswana and sub-Saharan Africa.

The Company's Annual General Meeting was held earlier today, and all
resolutions were duly passed. The Chairman's Statement, given by Tlou Chairman
Martin McIver, is set out below.

 

Chairman's address - AGM

It gives me great pleasure to deliver the
Chairman's address at Tlou's ninth AGM as a listed entity.

 

The past year has been a positive one for Tlou, with the company hitting a number of significant
milestones which will help us reach our future goal of being the first CBM project in Botswana to move
into production.

 

The most advanced project in the Company's pipeline is the Lesedi Power Project which once finalised
will generate 10MW of gas-fired and solar
power. Recent progress has seen the company reach
significant project milestones including;

 

•    Sustained gas flows

•    Signing a 10MW Power Purchase Agreement with
the Botswana Power Corporation ("BPC")

•    Securing an electricity generation licence from the Botswana
Energy Regulatory Authority

•
Awarding preferred tenders for the construction of the overhead powerlines and substations
to connect Lesedi to the BPC grid

We remain committed to building shareholder wealth through progressing the
Lesedi CBM project
towards first revenue while continuing to develop at low cost the Mamba and Boomslang Project
areas.

 

Following recent global developments surrounding the production and use of hydrogen fuel, this year
the Company has expanded its clean energy strategy
to also include hydrogen production. As part of the Company's
strategy, Tlou signed into a binding Heads of Agreement with Synergen
Met Pty Ltd, a
leading hydrogen developer applying unique intellectual property in the form of plasma technology
to convert methane to hydrogen. The HOA involves the construction and commissioning of a hydrogen
and solid carbon prototype to be installed at the Lesedi Project.

 

Synergen Met have built a first-generation working
prototype developed in conjunction with the University of
Queensland in Australia, that has produced hydrogen and NaCN (Sodium Cyanide) for
commercial applications.
Design work has now commenced in order to modify the unit to produce
hydrogen and solid carbon using Tlou's existing gas
flows. The prototype will be constructed and tested in Queensland
prior to transportation to Tlou's Lesedi Project in the first half
of 2022.

 

A successful hydrogen strategy for Tlou is envisaged to:

 

•     Create a potentially new market for the Company's gas

•     Utilise Tlou's existing gas
flow which is currently being flared

•     Diversify Tlou's saleable products and customer base

•
Result in huge expansion potential beyond a successful prototype to other standard gas assets
in the region

•     Progress Tlou towards net zero emissions

 

It is exciting to see the contribution that Tlou has already
made to the region, and with its projects
continuing to develop, it looks set to continue its work
towards providing sustainable and secure energy solutions to Botswana
and southern Africa.

 

Finally, and most importantly, I would like to take this opportunity to recognise the continuing support
of our shareholders, without whom our project would not be possible.

 

Thank you

Martin McIver

 

****

For further information regarding this announcement please contact:

 Tlou Energy Limited                 +61 7 3040 9084
 Tony Gilby, Managing Director
 Solomon Rowland, General Manager

 Grant Thornton (Nominated Adviser)  +44 (0)20 7383 5100
 Harrison Clarke, Colin Aaronson

 Shore Capital (Broker)              +44 (0)20 7408 4090
 Toby Gibbs, John More

 Public Relations
 Ashley Seller                       +61 418 556 875

 

Forward-Looking Statements

This announcement may contain certain forward-looking statements.  Actual
results may differ materially from those projected or implied in any
forward-looking statements.  Such forward-looking information involves risks
and uncertainties that could significantly affect expected results.  No
representation is made that any of those statements or forecasts will come to
pass or that any forecast results will be achieved.  You are cautioned not to
place any reliance on such statements or forecasts.  Those forward-looking
and other statements speak only as at the date of this announcement.  Tlou
Energy Limited undertakes no obligation to update any forward-looking
statements.

 

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