Aura Renewable Acquisitions plc
("Aura" or "Company")
Post Year End Operational Update
16 January 2023 - Aura Renewable Acquisitions plc, a UK-based company whose objective is to invest in the global renewable energy sector supply chain and thereby build shareholder value, is pleased to provide an update on progress for the period from the date of incorporation on 4 November 2021 through to 31 December 2022.
Aura was formed as a special-purpose acquisition company focusing on the Global Renewable Energy Sector Supply Chain, particularly on businesses in the wind, solar, biomass, hydropower, carbon capture, waste management, energy storage, smart grid and green hydrogen supply chain.
The Company raised gross proceeds of £1 million on admission to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange in April 2022. As of 31 December 2022, the Company had an unaudited cash balance of £809,000, reflective of the minimal overhead base following the listing.
The Company has actively and selectively reviewed potential international acquisition targets since listing and at the same time the Board has taken soundings from the investor community to seek to best fit investment appetite with the opportunities available.
Amongst others, and by way of example, companies in the energy storage sector, developing next-generation battery technologies, have drawn the Company's attention. Batteries play an essential role in the energy sector supply chain, facilitating the transition to a net zero economy and a more sustainable environment.
Many countries, including the United States and the United Kingdom, have realised the importance of secure domestic supply chains and have introduced legislation, government grants and other incentives to support their battery industries - an example being the Inflation Reduction Act under the President Biden Administration.
Our investment horizon is relatively wide within our chosen sector, and we will continue to assess and qualify what we believe to be value accretive opportunities in the UK and overseas. When our ongoing evaluation and investigation result in the potential for a transaction, the Company will give the market appropriate notice.
The Company expects to announce its results for the period ended 31 December 2022 in early April 2023.
John Croft, the Chairman of Aura commented:
"As we move further into our first full year of operation, Aura continues to explore a range of target acquisitions and investments which the Board considers could offer the potential for significant growth in this exciting, fast-moving and crucially important market sector.
"We expect supply chain, inflation and interest rate issues to be less of a dampening factor on corporate activity in 2023, and believe that capital market activity and fundraisings will slowly recover as the year progresses. Hostilities in Europe and further afield, the lingering impact of Covid, especially in China, are still causes for concern, as is the irrefutable and increasingly evident daily impact of climate change.
"As I have mentioned before, we are more confident than ever that the renewable energy sector will offer excellent opportunities for acquisitive and organic growth for the foreseeable future. We are striving to give the Company and its stakeholders the chance to share in these opportunities, not least to help in some small way to protect our planet for future generations."
Publication on website
A copy of this announcement is also available on the Company's website at http://www.aurarenewables.com.
Enquiries
Aura Renewable Acquisitions Plc
| | |
| John Croft (Non-Executive Chairman) | 07785 315588 |
| Robin Stevens (Non-Executive Director) | 07787 112059 |
Media enquiries
| Allerton Communications | |
| Peter Curtain | 020 3633 1730 |
| | aurarenewables@allertoncomms.co.uk |
Notes to Editors
Aura was established to acquire and then act as the holding company for targeted businesses operating in the Global Renewable Energy Sector Supply Chain, particularly participants in the wind, solar, biomass, hydropower, carbon capture, waste management, smart grids and green hydrogen supply chain, and their sub-sectors. These potential targets could range from raw materials resourcing to power generation, energy storage and recycling.
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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