Business
Revenue Generation & Potential Acquisition
Revenue Generation & Potential Acquisition.
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: 1 July 2024\n \nMast Energy Developments PLC ('MED' or 'the Company')\n \nPyebridge Revenue Generation and Potential Acquisition\n \nMast Energy Developments PLC, the UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market, is pleased to announce an update regarding business operational matters.\n \nPyebridge Revenue Generation\n \nFurther to the Company's previous announcement dated 13 June 2024, the 2nd Phase work programme regarding the refurbishment of the first of the Pyebridge site's 3x Jenbacher gensets has now been successfully completed, within budget and expected timeline. Since the previous announcement, the refurbished genset has been re-installed and cold and hot re-commissioning successfully completed. Resultingly the genset is now running commercially and generating revenue via the Pyebridge site's PPA with Statkraft, in addition to the Capacity Market contract gross profit income as previously announced. It is expected that the refurbished genset will significantly increase the Pyebridge site's revenue and gross profit. The MED management team in conjunction with its O&M contractor will monitor the performance of the refurbished genset carefully to ensure optimal performance. MED expects to provide a further operational update with specific reference to the initial performance of the refurbished genset around the end of July 2024. The next step in the 2nd Phase work programme is to commence with the overhaul of the 2nd of the site's gensets, and it is expected that this will be initiated shortly.\n \nThe Funding Agreement with RiverFort as previously announced has enabled the successful completion of the first genset's overhaul, and MED is appreciative of RiverFort's ongoing support as its asset-level strategic funding partner, in order to grow the business.\n \nTo give more insight into the work-stream involved in overhauling the genset, including photos of key stages during the process, which has now been updated following the successful completion of the first overhaul, please visit the MED website, \"Pyebridge...