Renergen and Afrox join forces to sell Free State gasses
ALTX-listed Renergen and African Oxygen (Afrox) announced a partnership on Wednesday to sell helium and other natural gasses discovered in the Free State.Renergen, which listed last year under new rules allowing "special purpose acquisition companies" (Spacs), said it discovered 25-billion cubic feet of helium and other natural gasses in a 187,000ha field in Virginia, near Welkom.The energy-focused Spac, whose chairman is former Afrox MD Brett Kimber, said Afrox’s German parent, Linde, would help it market the gasses."The discovery and commercialisation of the Free State onshore helium source is great news for industry, healthcare and the South African economy as a whole," Afrox MD Schalk Venter said on Wednesday. "The signing of this agreement marks a historic moment in bolstering SA’s self-sufficiency in terms of helium production."Renergen’s subsidiary Tetra 4 has contracted Afrox to operate the processing plant and market the helium.Renergen CEO Stefano Marani said: "Today is in...
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