Molindo Energy wishes a Merry Christmas and a Happy New Year
We are approaching the end of 2018 and can conclude that our portfolio comapanies have developed positevly throughout the year. Things take a bit longer than expected, but for long term value creation the importance lies in constant progress in the right direction.
- Meva Energy was awarded a price in Shanghai
- In QFS, commercial negotiations have started
- Exeger has launched a new communications platform and stand ready for commercial launch 2019
The project with Essity started in April 2018 when Meva Energy and Essity signed an agreement to replace Essity’s fossil gas with Meva Energy’s renewable gas. There were conditions to the agreement and the work during the second half of 2018 have been to fulfill these conditions. So far this has been succcessful and we are now moving towards the final commercial agreement, which is expected to be signed in February 2019. There are still negotiations remaining, but we are excited and hopeful that a first commercial contract with this large multinational company can be signed early 2019.
During the month, Meva Energy was also awarded a price in Shanghai for best innovation in EU-China Cleantech. The Meva management accepted the award in Shanghai and could afterwards convey the great interest in Meva Energy’s technology.
Since the “go ahead” decision for the Chinese authorities, QFS has been working on firming up a lead table with potential buyers and sellers. As of now there are several commercial discussions both for refined products and crude oil. Some of these commercial discussions have moved into the phase of drafting commercial agreements and payment terms. We feel confident of the progress of the company with price expectations which are allowing us to make a profitable business. We expect to shortly to move forward into the final stage of commercial negotiations.
There is rapid positive development in Exeger, but unfortunately there is not much that can be disclosed at this point for commercial reasons. Nonetheless, the company has announced that their products will be available for consumers during 2019, which is in line with our expectations. The company is well prepared for this commercial launch and may overnight be in the spotlight of the global consumer electronics business. To be fully prepared the company launched a new communication platform with new design. The strategy is now to communicate directly with consumers and market the value of their technology through statements such as “Endless Listening” for head phones or “Endless Entertainment” for watching videos on tablets. There are truly exciting times ahead for Exeger!
There has been an exciting year for Molindo Energy and all of the portfolio companies. Molindo Energy has more than doubled the net asset value, from MSEK 56 to MSEK 126 (as per September 2018) and the net asset value per share has moved from SEK 105 per share to SEK 118 per share. More importantly, all the portfolio companies have progressed in the right direction. The three portfolio companies have a strong position for commercial launch and continued value creation during 2019. We have all the reasons to be excited about the events and the developments that will unfold during 2019. I thank you all for your support during the year.
Merry Christmas and a Happy New Year.