ReNu Energy Limited (AU:RNE) has released an update.
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ReNu Energy Limited has announced the sale of its legacy geothermal assets to Hydro Lit Pty Ltd for $700,000, with payment in cash and convertible notes. This deal not only allows ReNu Energy to capitalize on its dormant geothermal resources but also enables Hydro Lit to further its ambitions of becoming a leader in green lithium production. The transaction provides ReNu Energy with potential upside in Hydro Lit’s value as it progresses with its lithium initiatives.
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