Pilot Energy Secures $1.8 Million Convertible Note Funding for Clean Energy Transition

Pilot Energy Limited ( (AU:PGY) ) has provided an update.

Pilot Energy Limited has secured a convertible note funding arrangement worth up to $1.8 million with a syndicate of sophisticated investors led by Discovery Investments Pty Ltd. This funding will support the company’s transition of the Cliff Head facilities from oil production to carbon injection and storage, a key component of its flagship Mid West Clean Energy Project. The agreement replaces a previous funding arrangement with 1Stock Limited, which failed to materialize, and highlights Pilot’s ongoing efforts to diversify and transition its operations towards clean energy solutions.

More about Pilot Energy Limited

Pilot Energy Limited is a junior oil and gas exploration and production company focused on transitioning to carbon management projects, hydrogen production, and clean ammonia for export to emerging APAC Clean Energy markets. The company aims to leverage its existing oil and gas operations to develop Australia’s first offshore CO2 Storage Project as part of its Mid West Clean Energy Project.

Average Trading Volume: 3,310,390

Technical Sentiment Signal: Sell

Current Market Cap: A$13.88M

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