Tuesday, July 22, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Kistos invests in 3D printing tidal firm Spiralis Energy

Simon Osuji by Simon Osuji
November 11, 2024
in Energy
0
Kistos invests in 3D printing tidal firm Spiralis Energy
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


Kistos (LSE: KIST) has picked up an equity interest of up to 20% in tidal energy firm Spiralis Energy after investing £800,000 into the London-based business.

The 20% is made up of 10% equity and 10% warrants following the financial backing and Kistos will be able to be represented on the company’s board.

Kistos claims that while looking to support green technologies and the energy transition it invested in the firm “which is at an advanced stage of testing and has the potential to revolutionise the tidal energy industry.”

Kistos executive chairman Andrew Austin said: “Kistos is committed to supporting the energy transition and believes this can be done whilst exposing shareholders to asymmetric value accretive opportunities.

“Our investment in Spiralis follows extensive due diligence on the business, its technology and commercial strategy and the tidal power sector and current market participants.

“Providing financial backing at this stage, with imminent final testing and the potential for commercial deployment shortly thereafter, meets our risk profile for this investment.”

Spiralis is developing the ‘Axial Skelter’ solution which is made from made from fully recyclable, 3D-printed segments.

It says that its entire tidal energy generator can be produced in less than a week.

The firm claims that its solution is “much more modular than other tidal generation systems” as the unit “snaps together” from individual components that can be “3D printed anywhere in the world.

Kistos says that with its investment Spiralis will kick off long term survivability testing of its system.

If testing is successful it “could lead to widescale deployment to provide a sustainable energy generation capability,” Kistos claimed.

Austin added: “Whilst as a management team our priority remains to seek value accretive opportunities in hydrocarbons, this investment offers a path to meet our stated sustainability commitments in conjunction with providing direct upside exposure and influence not available with traditional offsetting initiatives.”

Panmure Liberum director and oil and gas research analyst Ashley Kelty argued that this is a good move for the oil and gas firm as lit looks to diversify its portfolio.

Kelty wrote: “This is a low cost means for Kistos to diversify its portfolio and mitigate the carbon impact of its conventional hydrocarbon business.

“We see this as offering substantial future upside, although testing is required before we could assess the prospective upside in monetary terms.”

Recommended for you

Severn Estuary

Crown Estate to fund tidal energy efforts in Severn Estuary



Source link

Related posts

Zambia signs deal with Chinese firm to build $1.1 billion oil refinery

Zambia signs deal with Chinese firm to build $1.1 billion oil refinery

July 22, 2025
Top ten countries dominating Nigeria’s $281 million generator import market

Top ten countries dominating Nigeria’s $281 million generator import market

July 21, 2025
Previous Post

Farewell, functionality? The architect of this year’s Art Week Tokyo Bar on her radical design

Next Post

US calls on Rwandan troops to leave DR Congo

Next Post
US calls on Rwandan troops to leave DR Congo

US calls on Rwandan troops to leave DR Congo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Tips for choosing and using canes

Tips for choosing and using canes

2 years ago
Creating a career path of your own as a Nigerian youth

Creating a career path of your own as a Nigerian youth

2 years ago
SARS eFiling Enhancement to Help Taxpayers Check Compliance and Stay Ahead This Filing Season

SARS eFiling Enhancement to Help Taxpayers Check Compliance and Stay Ahead This Filing Season

3 weeks ago
Theta Network Dips Over 10% But Could 5thScape Be the Next Big VR Crypto?

Theta Network Dips Over 10% But Could 5thScape Be the Next Big VR Crypto?

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.