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Calvert International AG acquires Emerging Energy Corporation AG

EQS-News: Calvert International AG / Key word(s): Takeover Calvert International AG acquires Emerging Energy Corporation AG 22.04.2024 / 11:23 CET/CEST The issuer is solely responsible for the content of this announcement. CORPORATE NEWS

 

Calvert International AG acquires Emerging Energy Corporation AG

 

- Share capital increases by 10 percent

- First step towards a listed African energy holding company

 

Frankfurt am Main, April 22, 2024

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Calvert International AG ("CIAG"), ISIN DE000A2YN5X9, a fast-growing company specialized in the African energy sector, has acquired 100% of the shares in Emerging Energy Corporation AG ("EEC"). EEC develops the African market for hydrogen and renewable energies. The acquisition marks another major step towards becoming the leading listed holding company focused on the African energy sector. The transaction was carried out as part of a non-cash capital increase. The share capital of CIEAG has thus increased from 1,000,000 to 1,100,000 euros or shares.

EEC is a dynamically growing company with activities in the fields of hydrogen, biogas and decentralized solar solutions. The company is active on the African continent and holds minority stakes in biogas companies and off-grid solar developers. With the acquisition of EEC, CIAG is expanding into the fast-growing markets for decentralized solar and hydrogen solutions.

Jessica Stang, Head of Business Development at CIAG, comments: "The full acquisition of Emerging Energy is the starting signal for further expansion with the aim of building a strong energy holding company listed in Germany and active across Africa. With its strong presence in the African hydrogen and off-grid solar market, EEC is a very good opportunity for us to participate in the growth of the African energy market. We have seized this opportunity."