Green Hydrogen Company Acquires Capability for Seawater Desalination
In a recent marketing communication, Auctus Advisors, a corporate broking and corporate finance firm, has highlighted Chariot Ltd.'s (CHAR:AIM) acquisition of ENEO Water and the potential benefits for Chariot's green hydrogen projects.
ENEO Water, a company specialising in desalinated water production using solar-powered reverse osmosis technology, has been acquired by Chariot for US$0.5 million, with a potential US$0.5 million milestone payment. This acquisition will provide Chariot with desalination capabilities, a valuable asset for its large-scale green hydrogen and renewable energy initiatives.
Chariot has identified cities in Mauritania and Namibia for the development of transitional gas and transitional power projects, particularly focusing on the NOUR and AMAN projects in Mauritania, and a green hydrogen production project in Namibia. Having desalination capabilities will derisk these projects, ensuring a stable water supply, a critical component for green hydrogen production.
Furthermore, ENEO Water is developing a proof of concept at a wind farm in Djibouti to provide local communities with potable water for the next two decades. This experience could advantage Chariot when competing for development projects.
Auctus Advisors have set a £0.55 per share target price on Chariot, implying a potential 244% return for investors. However, it is important to note that the value of any potential investment may rise or fall.
The information, opinions, forecasts, and estimates in this document are based on current public information, but are not guaranteed to be accurate or complete. This note is a marketing communication and not independent research. The research analyst who prepared this report is Stephane Foucaud, a partner of Auctus.
It is also worth noting that the persons who produced this note may hold shares, warrants, options, or other financial interests in the company and reserve the right to acquire, hold, or dispose of such positions in the future.
Potential stock-moving events for Chariot include finalising gas sales agreements, securing debt funding, and taking a final investment decision at its Anchois gas project in Morocco.
Finally, Auctus does not offer a secondary execution service in the UK. This document is intended for background information purposes only and should not be considered as an offer or solicitation to sell, buy, or subscribe to any securities or financial instruments.
