Partnership Terms Signed with Total Eren

RNS Number : 6547S

Chariot Limited

17 November 2021

 

17 November 2021

Chariot Limited  

("Chariot", the "Company" or the "Group")

Partnership Terms Signed with Total Eren

Relationship between Total Eren and Chariot further strengthened

Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce that it has signed binding key terms of a long-term joint development partnership, with Total Eren, a leading France-based renewable energy Independent Power Producer (the "Partners" and the "Partnership"). The agreed terms will set out the relationship between the Partners from 1 January 2022 for the joint origination and development of wind and solar projects for mining clients in Africa.

· Partnership for three years, with the option to extend for a further two years.

· Chariot will have a right to invest between 15-49% into the co-developed projects.

· The Partners also have ambitions to collaborate on other non-mining energy projects and transactions in Africa.

Fabienne Demol, Executive Vice-President & Global Head of Business Development at Total Eren, commented:

"Total Eren is very pleased to implement a strategic partnership with Chariot. We continue to believe that our expertise as a global renewable IPP and our strategic partnership with TotalEnergies, combined with Chariot's experienced team and wide reach to the African mining industry will bring further value accretive opportunities to our collaboration. Together, we are determined to address the energy needs of African mining companies, and we will collaborate on other renewable energy projects in Africa."

Adonis Pouroulis, Acting CEO of Chariot, commented:

"I am very pleased to announce that Chariot is partnering with Total Eren, a leading and skilful player in the renewable energy industry. This partnership is looking to provide clean, sustainable, and more competitive energy to operational mines in Africa. A market of significant scale, that is largely untapped, where Chariot's management has a deep understanding and high-level commercial networks and we look forward to announcing our significantly progressed projects when appropriate."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.

For further information please contact:

Chariot Limited Adonis Pouroulis, Acting CEO Julian Maurice-Williams, CFO	[phone]
finnCap  (Nominated Adviser and Joint Broker) Christopher Raggett, Simon Hicks, Edward Whiley	[phone]
Peel Hunt (Joint Broker) Richard Crichton, David McKeown	[phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Chariot

Chariot is an African focused transitional energy group with two business streams, Transitional Gas and Power.

Chariot Transitional Gas is a high value, low risk gas development project with strong ESG credentials in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside. Chariot Transitional Power, looking to transform the energy market for mining operations in Africa, providing a giant largely untapped market with cleaner, sustainable, and more reliable power.

The ordinary shares of Chariot Limited are admitted to trading on the AIM under the symbol 'CHAR'. 

 

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