Tuesday, 02 January 2024 12:17 GMT

ARIA Commodities Announces US$135 Million Reverse Takeover Of London Listed Kibo Energy


(MENAFN- Mid-East Info) by Carbon Resilience, a 14GW Australian Renewable Energy Platform


The institutional asset management platform of ARIA Commodities' group today announced a reverse takeover (RTO) transaction with Kibo Energy PLC (AIM: KIBO; AltX: KBO) , the dual-listed energy development company.

The US$135 million acquisition, transacted in concert with ARIA's group institutional asset management business, will be satisfied through the issuance of approximately 966 million new Kibo shares at a deemed price of £0.104 per share , following a proposed 1,600-to-1 share consolidation . The transaction marks a significant reverse takeover (RTO) under AIM Rule 14 and represents Kibo's strategic pivot toward large-scale, global industrial decarbonisation.

A Portfolio with Global Potential

Carbon Resilience controls a portfolio of eight strategically located renewable energy sites across Queensland, spanning more than 900,000 hectares and offering a potential generation capacity exceeding 14 gigawatts (GW).

The projects combine onshore wind, solar PV and battery energy storage systems (BESS) to deliver firm, dispatchable clean-power solutions supporting:
  • National grid supply,
  • Industrial electrification,
  • Data-centre power resilience,
  • Critical minerals processing,
  • Green steel and low-carbon fuels production.

Unparalleled Green Electron Transition Opportunity

Matt Brittain , CIO at ARIA Commodities, commented:

“We've instituted a process which paves the way for realising significant value in what constitutes one of APAC's largest green electron opportunities. Supported by a world class global and local development team, the transaction will afford the opportunity for institutions, industry participants and commercial end users, to participate in an almost peerless Power-2-X proposition.”

The proposed RTO is expected to re-admit Kibo to trading on AIM following shareholder approval and regulatory sign-off. Once completed, the enlarged group will partner with global blue chip partners to deliver a decarbonisation platform which includes sustainable aviation fuel, green steel and marine fuels.

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