SLI – Business Update
REACH
04 October 2023
i(x) Net Zero PLC
("i(x) Net Zero" or the "Company")
Sustainable Living Innnovations - Business Update
i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the Energy Transition, announces that, further to the announcement on 10 March 2023, its portfolio company Sustainable Living Innovations, Inc. ("SLI"), will no longer consummate an initial business combination with Churchill Capital Corp V. The previously disclosed non-binding letter of intent between the two parties has been terminated in accordance with its terms. SLI will pursue alternative options that can support its plans to address sustainable housing affordability.
i(x) Net Zero has an indirect 0.1% interest in SLI which is held though MultiGreen SLI Partners, LP and and a $150,000 Unsecured Convertible Promissory Note. As of 30 June 2023, i(x) Net Zero carried its investment in SLI at a NAV of $0.77m, which when combined with the promissory note, represents 0.6% of Company NAV.
- Ends -
For further information visit https://ixnetzero.com/ or contact:
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i(x) Net Zero |
Via Buchanan below |
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Pär Lindström - Chief Executive Officer |
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Canaccord Genuity Limited Nominated Adviser & Broker |
+44 20 7523 8000 |
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Max Hartley |
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Harry Pardoe |
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Buchanan |
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Helen Tarbet |
+44 7872 604 453 |
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Simon Compton |
+44 7979 497 324 |
Notes to Editors
About i(x) Net Zero PLC
i(x) Net Zero PLC is an AIM quoted investing company that seeks to provides its shareholders with the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.
In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment.
The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero construction technology.
i(x) Net Zero is a signatory to the UN Principles for Responsible Investing.
The Company has received the London Stock Exchange's Green Economy Mark.
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