TIDMARA
RNS Number : 7334M
Aura Renewable Acquisitions PLC
16 January 2023
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 GBP1 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
GBP809,000, 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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