Nexergy Announces Expansion of TREIC’s Green Energy Portfolio

Nexergy is thrilled to announce a significant milestone in the journey towards a greener future. Our subsidiary, the Swedish electricity company TREIC, has taken a monumental step towards enhancing its commitment to environmental sustainability and carbon neutrality. TREIC has signed a Letter of Intent (LOI) with a prominent electricity retailer, cementing their dedication to eco-friendly practices.

To showcase this exciting development, we have revamped TREIC's website, where you can explore more about our mission and vision at treic.se.

Negotiations with the electricity retailer were successfully concluded last week, culminating in the signing of the LOI. With this crucial milestone, we are now set to commence Due Diligence and the drafting of a Share Purchase Agreement (SPA).

The electricity retailer brings to the table a robust sales product and an array of innovative initiatives aimed at reducing carbon emissions. Together, our shared ambition is to achieve annual revenues of up to £100 million within three years while remaining carbon neutral. To achieve this goal, the retailer has undertaken an ambitious program that involves direct carbon capture and a comprehensive tree-planting initiative.

The electricity retailer has thoroughly evaluated TREIC AB (publ) and other potential investments, recognizing the real synergies that exist between all parties involved in this merger. TREIC AB (publ) has prioritized this partnership, underscoring the commitment to its success.

Moreover, the electricity retailer shares TREIC AB (publ)'s vision for sustainable energy production and will collaborate to identify optimal green solutions for energy production projects.

Both TREIC AB (publ) and the electricity retailer share a common aspiration to become one of the largest electricity suppliers in Europe and the UK. This merger not only promises increased revenue and a positive environmental impact but also a positive cash flow for TREIC AB (publ), aligning perfectly with our vision of delivering electricity to Scandinavian, European, and UK markets.

TREIC AB (publ) is working tirelessly to address the growing interest from businesses and corporations seeking to participate in our continued development.

In addition, TREIC and Nexergy are engaged in discussions with a Swedish solar energy producing company. We are exploring the possibility of acquiring this company during Q4 2023 or the beginning of Q1 2024. Our aim is to become a direct energy producer, enabling us to serve both direct and indirect customers across Europe.