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Kibo Strategy Update
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 16 January 2024
Kibo Energy PLC ('Kibo' or the 'Company')
Kibo Strategy Update
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused developer of sustainable
energy solutions, is pleased to provide an interim strategy update in relation to its development
approach. This follows the Company's 2023 operational update as announced in an RNS dated 3 July
2023. This RNS aims to outline the Company's strategic concept and, whilst progress has been
limited given constraints around funding, recent advancements as part of its commitment to
developing long-term sustainable energy solutions in Southern Africa, the UK and Ireland.
Kibo's strategy revolves around its commitment to being a developer of sustainable clean energy
solutions by integrating both established and cutting-edge technologies in renewable energy
generation, waste-to-energy and energy storage. The primary focus is to deliver enduring, low- or
zero-carbon energy-generation solutions across Southern Africa, the UK and Ireland.
A number of these clean energy opportunities are in various stages of development and others still in
the opportunity screening phase.
In pursuit of this objective, the Company has and continues to establish formal relationships with
pivotal and leading industry entities, including sustainable technology original equipment
manufacturers, specialising in energy storage, biomass production and pioneers in biofuel
technologies.
Operationally, the Company:
* is currently formulating a joint development agreement with a multinational food and
beverage producer ("the Client") intended to be funded equally (i.e., 50-50) by Kibo and the
Client. The objective of this collaboration is to build and operate a pilot plant that will produce
bio-coal as a preliminary step towards the establishment of a comprehensive production-scale
facility. This initiative, subject to a successful pilot plant and financing, will enable the Client
to transition from the use of fossil coal to bio-coal in its comprehensive boiler fleet, without
any reconfiguration, aligning with established Environmental, Social and Governance (ESG)
compliance standards; and
* has received conditional preliminary approval for development funding, subject to due
diligence, from a prominent development banking institution in Southern Africa for one of
the Company's existing waste-to-energy projects.
The table below indicates the status of Kibo's project portfolio at present. Timelines beyond Q1 2024
remain as advised and the Company will advise should these change in light of the below. This does
not include opportunities that are currently the subject of advanced due diligence and commercial
consideration.
Kibo Group Project Portfolio
Kibo Strategic Development
Entity Projects Current Status
Equity Domain Status
– CM T-1 contract began on 1
October 2023 (see MED Unaudited
Interim results for the six months
Pyebridge (9 In care and ended 30 June 2023)
MW) maintenance
– Placed in care and maintenance,
pending funding (see MED RNS
dated 1 December 2023)
Ready for construction and awaiting
Bordesley (5 Advanced project
funding (see MED RNS dated 25
MW) development
August 2023)
MAST Energy
Reserve
Developments 57.86%
Power – Planning consent granted in Q2
(UK)
2023 (see MED Results for the year
ended 31 December 2022 as per the
MED RNS dated 28 April 2023 and
MED Unaudited Interim results for
Rochdale Advanced project the six months ended 30 June 2023)
(4.4 MW) development
– Shovel ready and awaiting
funding (see MED RNS dated 25
August 2023 and MED Unaudited
Interim results for the six months
ended 30 June 2023)
– EPC and O&M contracts under
review, further updates to follow
(see MED Results for the year
ended 31 December 2022 as per the
MED RNS dated 28 April 2023 and
Hindlip Lane MED Unaudited Interim results for
Concept stage the six months ended 30 June 2023)
(7.5 MW)
– Shovel ready and awaiting
funding (see MED RNS dated 25
August 2023 and MED Unaudited
Interim results for the six months
ended 30 June 2023)
– EPC and O&M contracts under
review, further updates to follow
(see MED Results for the year
ended 31 December 2022 as per the
MED RNS dated 28 April 2023 and
Stather Road MED Unaudited Interim results for
Concept stage the six months ended 30 June 2023)
(2.5 MW)
– Planning consent granted (see
MED RNS dated 25 August 2023
and MED Unaudited Interim results
for the six months ended 30 June
2023)
– Technical
CHP project workstream in
to supply collaboration with a
base-load potential OEM to
electricity align and integrate
generation in plant designs and
South Africa specifications with
Advanced
with 4 feedstock supply
project
potential Phase 1 (2.7 MW +
developmen – Integrated
revenue study on synthetic
t stage – Environmental
streams: oil production)
Waste to financial Authorisation (EA)
Sustineri (SA) 65% electricity,
Energy close ready has been granted
gate fees and
potentially – Advanced
from heat discussions with a
and steam development banking
output as institution for
well as the development funding
production of currently underway
synthetic fuel
oil and Milestones TBD
Phase 2 (targeted Pre-concept
naphtha once Phase 1 has
20 MW) stage
been executed
Simultaneous
concept and
Long 12.3 MW in commercial
National development Status remains unchanged from
Duration development
Broadband 51% previous update currently under
Energy
Solutions (SA) review
Storage 36.32 MW
target for Under assessment
development
TANESCO due diligence on Kibo
300 MW ongoing as part of the MOU
Original project.
short-term programme and currently underway
Mbeya Power Fully permitted
conversion to
Project 100% Biofuel with Bankable The Company has also entered into
renewable
('MPP') (TZ) Feasibility Study negotiations with potential strategic
energy
completed investor for the further development
biofuel
of the MPP
Southport
(10 MW, 2
MW long- Status remains unchanged from
Waste to duration previous update as parties continue
UK Portfolio 100%
Energy energy to seek agreement on further
storage and development plan for project
5.5m m3 bio-
methane)
This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014.
**ENDS**
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
James Biddle +44 207 628 3396 Beaumont Cornish Limited Nominated Adviser
Roland Cornish
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
Damon Heath +44 207 186 9952 Shard Capital Partners LLP Joint Broker
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media
van Rijmenant Relations Consultant
Johannesburg
16 January 2024
Corporate and Designated Adviser
River Group
Date: 16-01-2024 09:00:00
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