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Regency Mines PLC - Energy Storage MOU

RNS Number : 7323X
Regency Mines PLC
30 December 2019
 

Regency Mines PLC

 

("Regency" or the "Company")

Energy Storage: Strategic Partnership MOU

 

23 December 2019

Regency Mines Plc (LON: RGM) the battery metals and energy storage company announces the execution of a memorandum of understanding ("MOU") with ion Ventures Ltd ("IV"), an investor in and developer of energy storage and flexibility assets.  Regency is strategically focused around battery metals, including its flagship Mambare nickel-cobalt project and its UK distributed energy storage and production business. 

 

Under the MOU the parties have agreed to partner on Regency's existing pipeline of projects, with a view to identifying and prioritising the most commercially attractive projects, securing funding and then moving quickly to first cash flow.  IV will support the Company, initially on a consultancy basis and will be issued shares in Regency as consideration.  It is expected IV will become a long-term strategic partner to the company, supporting the development of UK energy storage business, and enabling Regency to progress rapidly to first project cash flow.

 

Hassen Bali, Co-founder of ion Ventures, commented: "There is a clear requirement for energy storage to be integrated into the UK's energy system, particularly as we move toward net-zero emissions by 2050. High quality assets will always be sought after and the partnership between Regency and ion is exciting in its potential to address this requirement." 

 

Scott Kaintz, Regency CEO, commented: "The Executive team at Regency are delighted to introduce ion Ventures as a strategic partner to the business.  ion has a deep project pipeline of energy storage and distributed energy projects in the UK, has comprehensive experience commercialising assets in the sector, and provides Regency line of sight on first project cash flows." 

 

About ion Ventures

Leveraging over 50 years of collective experience within the team, alongside the extensive capabilities of our partners and supply chain, ion Ventures delivers expertise tailored to each engagement and opportunity. At the forefront of the rapidly evolving way energy systems are designed, implemented and operated, where appropriate use of technology and commercial structures are critical, ion Ventures is ideally placed to partner and deliver solutions to address the complex challenges arising from the energy transition. ion

 

Development

ion Ventures has significant experience in designing and implementing flexible generation and operational solutions from a system down to a project level, extending to regulatory and policy input:

Development, construction and operation of >600MW of distributed generation, utilising legacy peaking plant, solar PV and energy storage

Hybrid generation for off-grid, islanded and micro-grid conditions

Demand Side Response implementations delivering flexibility services both in front and behind the meter

Network optimisation software and management solutions

 

Advisory and Consulting

ion Ventures provides bespoke services covering the following:

Engagements with distribution and transmission utilities, focussed on integrating energy storage, flexible generation and network optimisation into power networks

Supporting asset and project development throughout or at any stage of the lifecycle

Technology selection and sourcing

Commercial support for key stages of project development and asset operation

Linking appropriate finance to projects and asset portfolios

Regulatory and policy advice

 

More information can be found at www.ion.ventures

 

For further information, please contact:

Scott Kaintz 020 7747 9960                                                        Director Regency Mines Plc

Roland Cornish/ Rosalind Hill Abrahams 020 7628 3396        NOMAD Beaumont Cornish Limited

Jason Robertson 020 7374 2212                                                Broker First Equity Limited

 

This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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