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The latest announcement is out from ReNu Energy Limited ( (AU:RNE) ).
ReNu Energy Limited has received a management buyout proposal for its subsidiary, Countrywide Hydrogen Pty Ltd, prompting the establishment of an Independent Board Committee to evaluate the offer. The company is also exploring strategic opportunities, including acquisitions, and has sold its legacy geothermal assets to Hydro Lit Pty Ltd for $700,000, which allows for potential future gains. Additionally, ReNu Energy is expanding its renewable energy investments, including a stake in Hydro Lit, and continues to assess its other clean energy projects. The company’s recent financial activities include a share placement and conversion of loan notes to strengthen its cash position.
More about ReNu Energy Limited
ReNu Energy Limited operates in the renewable energy sector, focusing on clean energy solutions. The company is involved in hydrogen projects and invests in renewable and clean energy technologies through various subsidiaries and investee companies.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.08M
See more data about RNE stock on TipRanks’ Stock Analysis page.
