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Operational Update Q2 2023
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
(‘Kibo’ or ‘the Company’)
Dated: 03 July 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Operational Update: Q2 2023
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company,
is pleased to provide an operational update as it enters the second half of 2023. This follows its update
as provided in a Company RNS dated 6 April 2023.
Portfolio
The Kibo Group strategy, as previously announced in a Company RNS dated 19 April 2021, is
focused on developing, owning and operating sustainable energy solutions that can immediately and
progressively address the acute energy challenges in sub-Saharan Africa, the United Kingdom and
Ireland.
The table below indicates the status of Kibo’s project portfolio at present. Timelines beyond Q3 2023
remain as advised on 6 April 2023 and the Company will advise should these change in light of the
below. This does not include opportunities that are currently the subject of advanced due diligence
and commercial consideration.
Kibo Group Project Portfolio
Kibo Strategic Development
Entity Projects Current Status
Equity Domain Status
CM T-1 contract scheduled to
begin on 1 October 2023 (see
Operational and
MED Results for the year
Pyebridge (9 MW) generating
ended 31 December 2022 as
revenue
per the MED RNS dated 28
April 2023)
In construction and
commissioned by Q4 2023
Advanced
(see MED Results for the year
Bordesley (5 MW) project
ended 31 December 2022 as
development
per the MED RNS dated 28
April 2023)
MAST
Planning consent granted in
Energy Reserve
57.86% Q2 2023 (see MED Results
Developmen Power Advanced
for the year ended 31
ts (UK) Rochdale (4.4 MW) project
December 2022 as per the
development
MED RNS dated 28 April
2023)
EPC and O&M contracts
under review, further updates
to follow (see MED Results
Hindlip Lane (7.5
Concept stage for the year ended 31
MW)
December 2022 as per the
MED RNS dated 28 April
2023)
Stather Road (2.5 EPC and O&M contracts
Concept stage
MW) under review, further updates
to follow (see MED Results
for the year ended 31
December 2022 as per the
MED RNS dated 28 April
2023)
– Laboratory
tests received
and confirm oil
quality
standards of
offtaker
– Supplier’s
sustainability
standards
assessments are
CHP project to
currently
supply base-load Advanced
underway
electricity Phase 1 (2.7 project
– Integration
generation in South MW + study on development
study is being
Africa with 4 synthetic oil stage –
undertaken to
Sustineri Waste to revenue streams: production) financial
65% align test
(SA) Energy electricity, gate fees close ready
results with
and potentially from
feedstock
heat and steam
characteristics
output as well as
in preparation
the production of
for financial
synthetic oil
close –
Integrated
Environmental
Authorisation
(EA) has been
granted
Milestones
Phase 2
Pre-concept TBD once
(targeted 20
stage Phase 1 has
MW)
been executed
Simultaneous
concept and
National Long 12.3 MW in
commercial Status remains unchanged
Broadband Duration development
51% development
Solutions Energy from last update.
(SA) Storage 36.32 MW target Under
for development assessment
Original project.
Mbeya TANESCO due diligence on
300 MW short-term
Power Fully permitted Kibo as part of the MOU
conversion to
Project 100% Biofuel with Bankable
renewable energy programme currently
(‘MPP’) Feasibility
biofuel underway.
(TZ) Study
completed
Funding
constraints,
notably as the
results of delays
Southport (10 MW,
caused by
2 MW long-
shareholders not
Waste to duration energy Status remains unchanged
UK Portfolio 100% being able to
Energy storage and from last update.
cast their votes,
5.5m m3 bio-
resulted in no,
methane)
other than in-
house project
planning, work
being performed
All funding activities, including the Company’s proposed AIM-listed vehicle Ultimate Sustainable
Energy (‘USE’), were placed on hold due to delays as a result of EGM difficulties where shareholders
were unable to cast their votes, which was partially resolved at the most recent EGM (see RNS dated
16 March 2023).
Louis Coetzee, CEO of Kibo Energy, says: “We are pleased with the overall progress during the
last quarter, and we look forward to updating the market during the course of Q3 on a number of
exciting initiatives currently underway on both operational as well as corporate level”.
This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014.
**ENDS**
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
James Biddle +44 207 628 3396 Beaumont Cornish Limited Nominated Adviser
Roland Cornish
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
Damon Heath +44 207 186 9952 Shard Capital Partners LLP Joint Broker
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media
van Rijmenant Relations Consultant
Johannesburg
3 July 2023
Corporate and Designated Adviser
River Group
Date: 03-07-2023 08:00:00
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