StockMarketWire.com - Energy company Coro Energy focused said it had acquired a 20.3% stake in ion Ventures, marking its maiden clean energy investment for £500,000.

Alongside this initial investment in Ion Ventures -- a South East Asian and UK focused developer of clean energy projects -- the company had been granted priority right of first refusal, or ROFR, to invest in each of ion Venture's South East Asian projects prior to financial close.

The acquisition would provide Coro with 'immediate access to the existing ion Ventures pipeline of approximately 20 high quality clean energy projects across South East Asia, alongside a UK project pipeline,' the company said.

'The more mature projects include construction ready projects which are expected to be capable of becoming cash generative within 12 months and Coro will have optionality as to future investment in specific ion Ventures projects via the ROFR,' it added.






At 8:45am: (LON:I3E) I3 Energy Plc Ord 0.01p share price was +0.25p at 4.3p



Story provided by StockMarketWire.com