TIDMORCP
RNS Number : 4862H
Oracle Power PLC
28 July 2023
28 July 2023
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Q2 Update and Shareholder Q&A Session
Oracle Power PLC (AIM: ORCP), an international project
developer, is pleased to provide the following update on activities
during Q2 2023, as it advances the development of a portfolio of
projects.
Highlights
-- Announced a co-operation agreement with PowerChina
International Group Limited ("PowerChina") in April to collaborate
on the potential joint development of a 1-Gigawatt solar-based
independent power production plant at Oracle's Thar Block VI in the
Sindh Province, Pakistan.
-- Signed a binding Heads of Agreement with ASX-listed
Riversgold Limited in May for Oracle to farm-out the licence at
Oracle's Northern Zone Gold Project in Western Australia.
-- Successfully signed an MoU for the off-take and development
of the 1.32GW Thar coal fired power plant in May with the
Government of Sindh, Thar Electricity Limited, K-Electric Limited
and PowerChina. Potential development activities will include the
investment, development, financing, construction, and operation of
the Project.
-- The nomination of a joint Steering Committee for Oracle's
400MW Green Hydrogen Project in May, comprising of members from
Oracle Energy and State Grid Corporation of China.
-- Signed an MoU with PetroChina International (Middle East)
Company Limited in June, for the potential offtake for the green
hydrogen output and carbon credits from the Green Hydrogen
Project.
-- Successfully raised GBP363,000 gross in June by way of a
placing and a subscription at a price of 0.1p. The net proceeds
from the fundraise will be primarily utilised to support the
advancement of the Green Hydrogen Project and for general working
capital purposes. Oracle also appointed Global Investment Strategy
UK Limited as joint broker.
-- Signed an MoU with Ban Ki Moon led Global Green Growth
Institute ("GGGI") in June. GGGI will provide platforms and forums
for Oracle to engage with industry stakeholders, with the aim of
facilitating development and financing opportunities for its green
energy projects.
Topography Survey and Feasibility Study Updates
Post-period end on 18 July 2023, the Company announced the
completion of the surface level survey at the Green Hydrogen
Project site in Sindh, Pakistan by Fugro Pakistan B.V. The survey
of the 28km(2) site, completed with the use of drone for vital
mapping data, revealed no significant obstructions regarding the
project site for the development of the Green Hydrogen Project. The
findings will also help set the stage for the next phase of the
project, including planning, design and construction costs for
development of the plant.
The Company expects to receive the completed technical and
commercial feasibility study for green hydrogen and green ammonia
soon from thyssenkrupp Uhde ("thyssenkrupp").
Naheed Memon, CEO of Oracle Power, commented: "The second
quarter of 2023 has been an extremely productive period for the
Company, with the signing of a number of significant agreements
with energy leaders including PowerChina, K-Electric and PetroChina
for the joint development of our energy projects including our
flagship Green Hydrogen Project, which signals the rapidly
expanding appetite for green hydrogen as an alternative source of
renewable energy.
We look forward to advancing the next phase of flagship hydrogen
Project as we await the findings of the feasibility study by
thyssenkrupp, which will guide the next stage of our flagship
project's development and bring this exciting project closer to
fruition.
We also look forward to updating the market on a potential solar
powered plant at Thar Block VI as well as progress at Northern Zone
Gold Project, with drilling set to commence soon."
Naheed Memon, CEO of Oracle, will be conducting a shareholder
presentation and Q&A session via the Investor Meet Company
platform on Tuesday 1 August 2023 at 11 a.m. BST.
The presentation is open to all existing and potential
shareholders. Questions can be submitted pre-event via your
Investor Meet Company dashboard up until 9.00 a.m. BST the day
before the meeting or at any time during the live presentation.
There is no guarantee that all questions will be discussed on the
call given time limitations and/or specific sensitivities with
respect to operations.
Investors can sign up to Investor Meet Company for free and add
to meet Oracle Power PLC via:
https://www.investormeetcompany.com/oracle-power-plc/register-investor
Investors who already follow Oracle Power PLC on the Investor
Meet Company platform will automatically be invited.
For further information:
Oracle Power PLC
Naheed Memon (Chief Executive Officer) +44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser
& Joint Broker)
Rory Murphy / Matthew Chandler / Rob
Patrick +44 (0) 207 409 3494
Global Investment Strategy UK Limited
(Joint Broker)
Samantha Esqulant +44 (0) 207 048 9432
Buchanan +44 (0) 20 7466 5000
Bobby Morse, Oonagh Reidy, Abigail Gilchrist oracle@buchanan.uk.com
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END
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July 28, 2023 02:00 ET (06:00 GMT)
Oracle Power (AQSE:ORCP.GB)
過去 株価チャート
から 10 2024 まで 11 2024
Oracle Power (AQSE:ORCP.GB)
過去 株価チャート
から 11 2023 まで 11 2024
