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The latest announcement is out from Delorean Corporation Ltd ( (AU:DEL) ).
Delorean Corporation has secured a $2.2 million strategic investment from LMS Energy through a placement of 24.4 million shares at $0.09, giving LMS a 9.97% stake and bringing in a sector specialist that already operates more than 70 biogas projects across Australia, New Zealand and the U.S. The funds will bolster working capital and support expansion of Delorean’s bioenergy infrastructure development pipeline, reinforcing its positioning in the regional bioenergy market.
The company will also launch a Share Purchase Plan on the same terms as the placement, aiming to raise a further $2.2 million from eligible shareholders in Australia and New Zealand. If fully subscribed, the combined capital raising will materially strengthen Delorean’s balance sheet, enabling it to advance its project pipeline and potentially accelerate growth opportunities for existing investors in the bioenergy sector.
More about Delorean Corporation Ltd
Delorean Corporation Ltd is an ASX-listed company focused on bioenergy infrastructure, developing projects that convert biogas into usable energy. Operating in the renewable energy sector, the company targets growth in its bioenergy development pipeline, positioning itself within the transition to low-carbon energy solutions in Australia and New Zealand.
Average Trading Volume: 141,816
Technical Sentiment Signal: Sell
Current Market Cap: A$22.03M
See more data about DEL stock on TipRanks’ Stock Analysis page.