Dubai-based ARIA Commodities has announced that it has entered into a 135 million dollar reverse takeover (RTO) agreement with Kibo Energy PLC, an energy company listed on the London and Johannesburg stock exchanges. The transaction is expected to be completed through the issuance of approximately 966 million new Kibo shares.
Under the agreement, ARIA’s 14 GW renewable energy projects will be consolidated under the Kibo Energy umbrella, becoming part of a publicly listed entity. Through this move, ARIA will open its renewable energy project portfolio to international investors while expanding its access to capital via a traded platform.
The portfolio consists of eight sites spanning 900,000 hectares across Queensland, Australia. Combining wind, solar, and battery storage systems, the projects support national grid supply, industrial electrification, energy security for data centers, and the processing of critical minerals — with a particular focus on green steel and low-carbon fuel production.
Matt Brittain, CIO of ARIA Commodities, described the deal as offering an “almost unrivaled green electron opportunity” in the Asia-Pacific region, adding: “This transaction provides institutions and industrial players with access to a unique Power-2-X platform.”
Following the completion of the deal, the joint platform is expected to operate globally across sectors including green steel, sustainable aviation fuel (SAF), and low-carbon maritime fuels.
Comments
No comment yet.