Important LOI has been signed

A Letter of Intent has been signed regarding the purchase of the Swedish refinery technology with associated patents and assets.

The value is estimated between £300,000,000 and £800,000,000. The minimum value of £300,000,000 is based on what the business is worth by May 2022.
The range of up to £800,000,000 is because the value will be determined during Due Diligence – and with the business producing oil and machinery on an ongoing basis.

Because of these matters, it’s difficult to determine an exact value at the this early stage.

The Swedish refinery technology has been listed on a stock market and has a history as a stock share and Nexergys agenda with the Swedish refinery technology is to bring it back to the market together. The Swedish refinery technology has evolved a lot through the years and are today producing and selling oil to the market.

Even if there is no such thing as so called “green oil” we at Nexergy would like to see it as green oil and the secure production of fossil fuel in Europe.