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Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Announces it has achieved its first major framework agreement target by placing the first commitment to purchase the first two proof of concept projects. These projects relate to its signed strategic five-year framework agreement with CellCube to deploy long-duration energy storage in Southern Africa.
This comes shortly after Kibo signed a rolling five-year agreement with Vienna-based Enerox GmbH in May to develop and sell CellCube-based vanadium redox flow batteries in selected sectors in southern Africa. The contract seeks to deliver a project pipeline expected to exceed at least 1 gigawatt over the course of five years.
London stock price: 0.088 pence
12-month change: down 64%
Johannesburg stock price close: R 0.05
12-month change: down 50%
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