Chariot highlights “exciting and important phase” as energy transition business advances
Boosted by a recapitalisation in the second quarter of 2021 the company is now advancing to capitalise on its opportunities.
Company
LON:CHAR
Chariot is an Africa focused energy group with two core business streams: Upstream Oil and Gas and Renewable Power. Chariot’s Upstream Oil and Gas pillar is focused on building out a full value chain growth business within Africa. Alongside securing a footprint in Angola, Chariot holds a diverse portfolio in Morocco and is pursuing a range of new ventures across production, development and exploration opportunities. Chariot’s Renewable Power business is focused on providing competitive, sustainable and reliable energy through building, generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining projects on the continent. Chariot is also continuing to advance its green hydrogen asset, Project Nour in Mauritania.
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Boosted by a recapitalisation in the second quarter of 2021 the company is now advancing to capitalise on its opportunities.
“The launch of Chariot Transitional Power places the company in a unique position in the market,” said Adonis Pouroulis
Further funds will be raised by open offer - meanwhile, chief executive Adonis Pouroulis says it's a key turning point in the evolution of the company
Company has changed name to Chariot Limited to reflect broadening of focus
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The company will be renamed "Chariot Transitional Energy" alongside the acquisition of a renewable energy provider to Africa's mining industry.
The agreement confirms the governments support for the gas field development project, that’s 75% owned by Chariot.
"Chariot is clearly showing that it is delivering on what it said it would do, namely, advancing the commerciality of the Lixus asset and generating value to shareholders in the process," Adonis Pouroulis said
"We have shown Chariot's strong commitment to both the Anchois gas project as well as to Morocco,” said acting chief executive Adonis Pouroulis
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Both financial institutions have identified Chariot's Lixus licence as an important strategic asset for Morocco.
Pierre Raillard brings a wealth of regional and industry experience
"This is an exciting phase in the evolution of the company as the new team takes action to drive the Lixus opportunity forward," Adonis Pouroulis said.
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"This asset has the capacity to be a value accretive and long-term project of national significance to Morocco,” said acting chief executive Adonis Pouroulis
"I would like to thank Larry for the significant contribution he has made to Chariot over the past 9 years," said chairman George Canjar
Advancing the Anchois gas project towards development is the key focus for the remainder of 2020
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