ion Ventures and Coro Energy plc
Capital Injection and New Partnership
2nd November 2020 – London/Singapore
ion Ventures Holdings Ltd (“ion”) is pleased to announce a new round of investment and a new partnership with Coro Energy plc (“Coro”).
Coro is a South East Asian energy company, listed on the Alternative Investment Market of the London Stock Exchange, focused on supporting the regional transition to a lower carbon economy. In September 2020, Coro announced a revised South East Asian strategy to include a specific focus on renewable energy assets and related technologies, including battery storage, to meet rising levels of energy demand. Energy storage capacity is a pre- requisite to the transition to a low carbon economy.
The transaction highlights the strategic alignment between ion and Coro, with ion’s development and growth also focused on South East Asia, as well as the UK. To strengthen the partnership, ion is delighted to welcome Peter Christie to its Board of Directors. Peter brings with him 10 years of experience in finance and is currently the CFO of Coro Energy plc.
Dan Taylor, Co-founder of ion Ventures, commented: “We are really pleased that during such a tumultuous year, the focus on clean energy development continues to gather momentum. Energy storage is critical to underpinning flexibility as a commodity and we have worked hard in our core markets over the past couple of years to develop efficient, cost effective storage solutions. Our partnership with Coro will help unlock more capital for clean energy development and is proof that our hard work continues to pay off.”
James Parsons, Chairman of Coro Energy plc, commented: “ion are building a demonstrable track record in an area of real strategic interest to Coro. We believe our work with ion will accelerate our evolution into a regional low carbon energy company, able to pursue long term opportunities through the energy transition. We are really looking forward to growing this partnership and backing the team and their development pipeline in South East Asia”.
Tel: +44 (0)20 7457 2020