Delorean Corporation Ltd (AU:DEL) has released an update.
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Delorean Corporation Ltd has secured a $30 million corporate finance facility from Tanarra Group, set to advance the construction of its pioneering bioenergy infrastructure projects, SA1 and VIC1. The facility, structured in two tranches, aims to enhance Delorean’s working capital and fund the SA1 project’s capital contributions, with financial close anticipated for mid-September 2024. This strategic move is expected to significantly boost shareholder value as it propels Delorean towards commencing construction and operating at full capacity by Q1 2026.
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