Business
Definitive Invest. Agmt. Complete & Revenue Update
Definitive Invest. Agmt. Complete & Revenue Update.
About this update from Quantum Data Energy Plc
[{"type":"text","content":"\n\nMast Energy Developments PLC\n(Incorporated in England and Wales)\n(Registration Number: 12886458)\nLEI :213800HFVHGJ9YGO9F71\nShare code on the LSE: MAST\nISIN: GB00BMBSCV12\n('MED' or 'the Company')\n \nDated: 6 May 2025\n \nMast Energy Developments PLC ('MED' or 'the Company')\n \nSuccessful Completion of £5m Definitive Investment Agreement with Powertree,\nRevenues Update, and Significant Shareholdings Update\n \n \nMast Energy Developments PLC is pleased to announce exciting updates regarding its Growth Capital Partnership with Powertree, a trading revenues update for its Pyebridge site, and a significant shareholdings update, the highlights and details of which are outlined below.\n \nPowertree Investment Agreement Highlights:\n· Further to MED's previous RNS announcement dated 20 March 2025, MED has successfully satisfied the conditions precedent and completed the binding definitive investment agreement (the \"Investment Agreement\") with Powertree (Holdings) Ltd (\"Powertree\");\n· The Investment Agreement formalizes the long-term partnership between MED and Powertree to deploy capital into the portfolio of development flexible power generation projects that MED owns, starting with its 7.5MW construction-ready Hindlip project (the \"Growth Capital Partnership\");\n· Under the Investment Agreement, Powertree will invest up to £5,000,000 into MED's Hindlip project (the \"Investment Consideration\"), resulting in the Hindlip project being fully funded with no further funding obligation from MED;\n· The Investment Consideration will be solely used to fund the total capex and construction of the Hindlip project, to get the site into full commercial production;\n· The Hindlip project's EPC and construction plan has been finalised and it is expected that construction will commence shortly;\n· The total construction timeline to commissioning and commercial operations date is expected to be around 9 - 12 months, and we look forward to updating the market with construction progress; and\n· Following the completion of this first investment, it is expected that MED and Powertree will further grow the partnership with a next site in the near term, and potentially more thereaft...