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Kibo Project Update
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: 06 April 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Kibo Project Update
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-focused development company,
is pleased to provide an operational update in follow-up to a Company RNS dated 1 February 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 Q1 2023
remain as advised on 1 February 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 Equity Domain Projects Status Current Status
Pyebridge (9 Operational
MW) and generating
revenue
MAST Energy
Reserve Bordesley (5 Advanced Further update to follow shortly
Developments 57.86% Power MW) project
(UK) development
Rochdale Advanced
(4.4MW) project
development
Hindlip
Lane (7.5 Concept stage
MW)
Stather Road
(2.5MW) Concept stage
(2.5 MW)
CHP project Awaiting final
to supply laboratory test results
base-load Advanced regarding one
electricity Phase 1 (2.7 project remaining element of
generation in MW + study development fuel samles to
South Africa on synthetic stage – complete integration
with 4 oil production) financial study and finalise off-
revenue close ready take agreement for oil
streams: production
Sustineri (SA) 65% Waste to electricity,
Energy gate fees and
potentially
from heat
and steam Phase 2 Pre-concept Milestones TBD once
output as (targeted 20 stage Phase 1 has been
well as the MW) executed
production
of synthetic
oil
Simultaneous
Long 12.3 MW in concept and Due to a change in control of
National Duration development commercial ownership with the off taker / client, a
Broadband 51% Energy development process of additional reciprocal due
Solutions (SA) Storage 36.32 MW diligence investigations was required
target for Under and are currently underway
development assessment
Southport
(10 MW, 2 The front-end engineering and design
MW long- (FEED) study is ongoing but
UK Portfolio 100% Waste to duration progressing slower than planned due
energy to funding constraints and a
storage and protracted process to finalise the land
5.5m m3 bio- lease agreement
methane)
Louis Coetzee, CEO of Kibo Energy, says: “We continue to advance the development of all Kibo’s
projects and remain confident of meeting deadlines set for 2023. That said, resolving the creation of
new authorities (see RNS dated 16 March 2023) is of an increasing concern as this materially affects
the Company’s ability to secure project funding and debt financing at project level, which will
inevitably impact on reaching financial close for the various projects at the set target dates.”
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
06 April 2023
Corporate and Designated Adviser
River Group
Date: 06-04-2023 05:45:00
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