European Green Transition PLC (AIM:EGT) told investors it may cast a wider net as Cathal Friel, appointed chair in June, advances the firm's stated M&A strategy.
The company, in today's results statement, said it has identified and continues to engage with a range of distressed, revenue-generating acquisition targets at attractive valuations.
It added that given the uncertainty and challenging long-term prospects faced by many businesses focused on the green economy, the company is now also evaluating opportunities in other sectors, including
"We continue to execute on our strategy to reallocate our resources away from exploration and mining towards acquiring and transforming distressed, revenue-generating businesses," said chair Cathal Friel.
"Over the past six months, we have made significant progress in identifying and engaging with potential acquisition targets.
"Given our strong track record of transforming distressed businesses, we will evaluate these opportunities and prioritise deals where we can deliver sustainable, long-term returns for our shareholders."
EGT's financial results this morning showed an interim loss of £0.6 million for the six months ended June 30, 2025, compared with a £1.3 million loss a year earlier. The company held £2.9 million in cash at the period end and had no debt or committed costs.
During the reporting period (the six months ended 30 June) EGT secured extensions to its Olserum rare earths and Pajala copper-graphite licences in Sweden.