Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy’s subsidiary, Mast Energy Developments PLC, reports a strong performance from its first refurbished genset at the Pyebridge flexible power project, generating approximately £57,000 in revenue during its initial month. The company outperformed the market with a 40% margin and is expecting a gross profit margin of around 28%, while also planning to enter the Balancing Mechanism market to enhance profitability. This successful refurbishment sets the stage for the overhaul of two additional gensets and contributes to MED’s goal of growing a 100 MW portfolio of green-focused energy generation.
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