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In a strategic move to bolster its position in the African energy sector, Calvert International AG (CIAG), an emerging player specializing in African energy ventures, has completed the acquisition of 100% of the shares in Emerging Energy Corporation AG (EEC). This acquisition solidifies CIAG’s trajectory to become the foremost listed holding company focused on the African energy landscape.
The transaction, executed as part of a non-cash capital increase, signifies a significant milestone for CIAG, elevating its share capital from 1,000,000 to 1,100,000 euros or shares. EEC, renowned for its expertise in developing the African market for hydrogen and renewable energies, represents a valuable addition to CIAG’s portfolio.
EEC is a dynamic entity engaged in various facets of the energy sector, including hydrogen, biogas, and decentralized solar solutions, with a strong presence across the African continent. The company holds minority stakes in biogas enterprises and off-grid solar developers, positioning itself as a key player in these burgeoning markets.
Jessica Stang, Head of Business Development at CIAG, expressed enthusiasm about the acquisition, stating, “The full acquisition of Emerging Energy is the starting signal for further expansion, aiming to establish a robust energy holding company listed in Germany and active across Africa. With EEC’s established presence in the African hydrogen and off-grid solar market, we see a prime opportunity to participate in the region’s energy market growth. This acquisition reflects our commitment to seizing strategic opportunities and driving sustainable energy solutions in Africa.”
With this strategic move, CIAG reinforces its commitment to driving sustainable energy solutions across the African continent, positioning itself as a key player in the rapidly evolving energy landscape. The acquisition of EEC marks a pivotal step forward in CIAG’s journey towards becoming a leading force in African energy ventures, poised to capitalize on the continent’s vast renewable energy potential. |
