Renergen ready to tackle Nasdaq IPO and Phase 2 production expansion

Renergen has started its new financial year off on a high note after the recent first commercial liquid helium production, and the road ahead looks promising as the company seeks to bring in equity capital from the US, says chief executive Stefano Marani.

“While it wasn’t a smooth year, mired in volatility and setbacks, we are in a very strong position with domestic energy markets in drastic need of new sources of energy; global helium markets in need of supply chain diversification to stabilise the recurring helium crises; and formidable supporters backing our world class project,” he wrote in the company’s annual report, released on Friday.

Marani said he had moved to the US in early August 2023 to lay the foundations for a Nasdaq IPO, along with establishing a helium distribution base.

“This has proved to be a highly successful move, with the company having already established many relationships within the US oil and gas industry, increasing awareness of Renergen and our helium reserve. As we draw closer to the finalisation of the listing, we will continue to develop these relationships and solidify our presence as a South African company with a presence and supply chain in the largest economy in the world.”

With the recent commencement of helium production and resumption of strong LNG production, the focus was now on growing subsurface development and bringing the exciting plans for the Phase 2 plant development to fruition, he said.


https://www.iol.co.za/business-report/economy/renergen-ready-to-tackle-nasdaq-ipo-and-phase-2-production-expansion-e5e23085-e780-49b4-ad8a-cc0c776f34cc