https://www.miningweekly.com
Energy|Flow|Flow
Energy|Flow|Flow
energy|flow-company|flow-industry-term

Bushveld completes Enerox investment strategy

28th April 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Special purpose acquisition company Mustang Energy has invested $7.5-million into Vanadium Redox Flow Battery Holdings (VRFB-H) to acquire a 22.1% interest in VRFB-H and an indirect 11.05% interest in vanadium redox flow battery (VRFB) manufacturer Enerox.

Bushveld Minerals’ 84%-owned Bushveld Energy subsidiary holds an indirect 25.25% interest in Enerox through VRFB-H’s 50% interest in Enerox’s parent company Enerox Holdings.

Bushveld Minerals reported earlier this month that a consortium of investors in Enerox Holdings would invest $30-million to scale up Enerox’s production capacity to 30 MW by 2022. Capacity is expected to increase further to at least 150 MW by 2025.

Bushveld Minerals’ share of the investment in Enerox was $7.5-million.

The investment of VRFB-H into Enerox is in line with Bushveld Minerals' strategy to mobilise capital to scale up growth and capacity of VRFB manufacturers, either through self-funding mechanisms or through funding sharing arrangements such as this agreement with Mustang.

Mustang funded its investment by way of the issue of $8-million unsecured convertible loan notes, at a 10% coupon, to certain investors.

Edited by Creamer Media Reporter

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024
Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.113 0.151s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: