Clean Invest Africa Plc - Placing to raise £200,000
PR Newswire
LONDON, United Kingdom, February 08
8 February 2024
Clean Invest Africa Plc
("CIA", the "Company" or the "Group")
Placing to raise £200,000 and Total Voting Rights
Clean Invest Africa Plc, the mineral fines waste processing company quoted on the Aquis Growth Market, is pleased to announce the successful completion of a placing (the "Placing"), to raise £200,000 to support the continuing growth of its wholly owned subsidiaries, CoalTech Limited ("CoalTech") and Coal Agglomeration South Africa (Pty) Ltd ("CASA"), and to provide working capital to the Group.
Placing
A total of 57,142,857 ordinary shares of 0.25p nominal value each ("Placing Shares") have been placed with one investor at 0.35p per share. For each one Placing Share issued, one warrant will be granted, exercisable at 0.7p, valid for a period of three years from the date of admission of the Placing Shares to the Aquis Growth Market. Application has been made for the Placing Shares to be admitted to trading on the Aquis Growth Market and this is expected to occur on or around 12 February 2024.
Total Voting Rights
Following the issue of the Placing Shares, the issued share capital of the Company will consist of 1,992,542,027 ordinary shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 1,992,542,027. The above figure of 1,992,542,027 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
About CoalTech technology ("CoalTech")
In the context of the global policy of environmental improvement, reconditioning of polluted areas and development of sustainable solutions for those industries (such as, but not limited to, coal) which have an impact in terms of environmental pollution, but which, at least for the next two to three decades, will have to continue to produce in order to sustain the demand for energy, CoalTech believes that the application of its technology, in addition to meeting the Global Environmental Improvement Policy, also effectively addresses the following problems:
(i) how to clean up/dispose of the more than 30 billion tonnes of coal dust now found worldwide as an unavoidable residue of coal mining processes, and
(ii) how to minimize the accumulation of further coal dust in those areas where coal mining ponds are still active and/or at the loading/unloading hubs of the coal trade routes such as ports and/or stations and/or in those industries that still use coal.
In other words, even if the ecological transition is making great strides, coal dusts will continue to damage the environment if they are not removed or minimised in cases where industries use coal (e.g. power plants, steel mills, etc.) and these last will takes years to complete the ecological transition with less polluting technologies, if available.
CoalTech uses the agglomeration process (pelletizing) to transform coal dust into spherical agglomerates (pellets) through the rotational and inclination forces generated in a Pelletizer and the amalgamation action of an organic, non-polluting agent developed in-house. The transformation process is then finalised by drying treatments to make the pellets transportable and reusable in various industrial applications.
CoalTech technology is the right balance for merging energy demand with governments' commitment to a clean world. In particular, it is a valuable vehicle for achieving goals #8, #9 and #15 of the UN 2030 Agenda combining the useful with the enjoyable. Useful because it is certainly effective in carrying out the initial reclamation of the land and/or the hubs of the trade routes and/or the coal storage areas of the power stations where tonnes of unused and environmentally harmful coal dust are still being deposited. Enjoyable because it is a business with a potential of millions of dollars as the process used does not alter the original characteristics of the coal (e.g. the calorific value and the chemical composition) and therefore the pellets produced, becoming transportable, can be sold on the market and have multiple uses, such as for example:
- be introduced into the coal market by blending with the original raw material, thus solving at the root the problem of coal dust accumulation and, in time, reducing the existing accumulation at the washing and/or storage plants
- be introduced into the circuit of those industries that use coal to produce other products such as: the steel industry to produce coke and the chemical industry for the production of ammonia, hydrogen, synthetic products such as solvents, dyes, pesticides, synthetic rubbers, explosives, plastics, medicines, and others
- originate a circular economy system as from the distillation of coal, it is also possible to obtain tar, benzol, phosphates, nitrates, sulfates, naphthalene, celluloid
- to become a raw material in the coal gasification process for the production of syngas; and
- to support, during the transition period, the less affluent populations that still live-in rural areas where the energy distribution network is not yet in place and will require years of work to make it available, so becoming a source of energy and house heating through the use of domestic stoves, already existing on the market, which, in addition to heating, can also produce a few kW useful to turn on a few light bulbs.
The directors of the Company accept responsibility for the contents of this announcement.
ENQUIRIES:
Clean Invest Africa plc
Filippo Fantechi - Chief Executive Officer: +973 3 9696273
Peterhouse Capital Limited
Guy Miller +44 20 7469 0930
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
