European Green Transition, an investment company building a portfolio of critical metals mining, renewable energy and other green economy assets, is planning to float on London’s junior market.
As well as listing on AIM, it plans to raise funds to acquire other assets and carry out capital-efficient development programmes.
EGT co-founder Cathal Friel (pictured), who is known to investors in London as director at hVIVO and Poolbeg Pharma, formerly also Amryt Pharma and Fastnet Oil & Gas, plans to participate in the fundraise.
Chief executive of EGT is Aiden Lavelle, a chartered geologist with 16 years' experience, most recently at privately owned explorer Green Glen Minerals.
EGT says it has already acquired a portfolio of assets, led by the Olserum rare earth element (REE) project in Sweden, where it aims to obtain a 25-year exploitation permit alongside copper and graphite assets in the Scandinavian country and critical mineral projects in Germany.
“Olserum has the potential to be progressed to become Europe's first commercial stage rare earth mine and we will look to monetise this project with larger industry players or financial investors in the near future,” Lavelle said in a statement.
Friel, who will be a non-executive director, said the company is “very excited by the scale of the opportunities created by the green economy transition in Europe”.
He said M&A will be focused on “targeting distressed and undervalued assets towards prospects in the green economy”.
“This approach has already generated success, delivering value across a range of public companies, namely Cove Energy plc, Amryt Pharma plc and hVIVO plc. We aim to repeat this formula with EGT.”