|
|
|
|
Dear shareholders,
there is continued progress in all of our three portfolio companies since the first investments were made in April, May and June 2017. In all aspects, these companies develop in a positive direction and the development is evident in the portfolio companies latest share transaction prices which increased compared to Molindo Energy’s original investment price per share for all companies.
Highlights
- Positive development of the financial value of the investments, raising Molindo Energy’s NAV per share from SEK 100 to SEK 105
- Meva Energy has signed a General supply agreement with Czech company 2JCP
|
|
Meva Energy
There is technical progress related to optimizing the tar re-injection system at Hortlax in Piteå. A new system for tar/water separation and re-injection of tar has so far successfully been tested and we are confident this will increase the efficiency output of Meva Energy’s plants. We expect the technical optimization work to be completed during the first quarter 2018.
Meva Energy signed a General supply agreement with the Czech engineering and manufacturing company 2JCP. With this cooperation Meva Energy secured a valuable engineering partner and enabled manufacturing capacity for pre-fabricated, modular gasification plants. This is an important step forward as the company moves towards a commercial launch.
|
|
|
QFS
Following the sample optimization tests, which was previously communicated, we are in final negotiations with the refinery. There are administrative formalities before the commercial order can be completed and as usual these things take a little longer than expected. The administrative formalities will be completed shortly and we feel confident since the critical business components are already in place.
|
|
|
Exeger Sweden
Although Exeger continue to develop their technology, most focus is on commercial launch and customer discussions. Exeger is involved in preparatory work on a high level with potential customers and this work and these discussions are non-disclosable at this time. At this point, customer relations can either lead to a significant leap forward for Exeger or a no-go decision. There is a lot of excitement in this phase of Exeger’s development and we feel optimistic about the outcome considering the number of on-going discussion and the timing and uniqueness of Exeger’s offering.
|
|
|
Next steps Molindo Energy
We are continuing to work actively to support our portfolio campanies to progress. This involves facilitating contacts from our network and improving financial and administative routines. We are evaluating new investment opportunities particulary spin off effects from the QFS business in China. In summary there is much excitement ahead and we look forward to your continued support.
Yours sincerely,
Morgan Sadarangani
|
|
|
|
