Tlou Energy Ltd - Tlou seeking Carbon Neutrality
Tlou Energy Limited
("Tlou" or "the Company")
Tlou seeking Carbon Neutrality
Tlou Energy Limited is an ASX, AIM and BSE listed company focused on delivering cleaner electricity in
· Tlou progressing towards having the first carbon neutral power project in
· Plans to combine gas, solar and carbon sequestration.
Tlou Energy is working towards the goal of being the first carbon neutral baseload power project in
Tlou's Managing Director, Mr
About Carbon sequestration
Carbon sequestration involves capturing and storing carbon dioxide from the atmosphere so that it potentially reduces its contribution to global warming. It is essentially the long-term storage of carbon in soil, plants, geological formations or oceans. Carbon sequestration can occur naturally and as a result of human activities and typically refers to the storage of carbon that has the immediate potential to become carbon dioxide gas. Due to concerns about climate change resulting from increased carbon dioxide in the atmosphere, considerable interest has been drawn to the possibility of increasing the rate of carbon sequestration through changes in land use.
Carbon sequestration and the Lesedi Power Project
The Lesedi project area can be considered as shrub savanna containing various tree species. The subdivisions found within Tlou's project area are predominantly rural with most of the land being deployed for livestock agriculture. Tlou is in the process of negotiating the acquisition of land to reduce livestock numbers and implement fire mitigation measures. This will substantially increase the amount of available woody biomass which can be used to claim carbon credits within the project area.
Carbon credits can then be offset against the carbon dioxide associated with Lesedi's gas fired power generation component noting that gas will in any event produce considerably less carbon dioxide compared with that generated by coal and diesel. Balancing Tlou's associated carbon dioxide production with carbon sequestration methods would make Tlou the first carbon neutral power producer in
Environmental, Social and Governance (ESG)
Carbon reduction is another example of Tlou's commitment to the environment and part of the Company's vital ESG program aimed at enhancing the lives of the local population and regional communities. Tlou has a track record of supporting local charities and youth groups and looking to grow local employment with investment in community ventures. This includes programs aimed at growing higher nutritional value crops for local livestock so grazing could be reduced and biomass preserved, as well as promoting wildlife. Recently the Company supported
Tlou is currently awaiting environmental approval to facilitate commencement of exploration and evaluation operations in the Boomslang project area. These operations could be run in tandem with development operations at the Lesedi project, where environmental approval is already in place. Work at Tlou's Boomslang and Mamba project areas is aimed at developing additional power projects that, like Lesedi are planned to produce cleaner power, create employment and benefit the local and regional population.
By Authority of the Board of Directors
For further information regarding this announcement please contact:
Tlou Energy Limited
+61 7 3012 9793
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Grant Thornton (Nominated Adviser)
+44 (0)20 7383 5100
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Shore Capital (Broker)
+44 (0) 207 408 4090
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Tlou Energy is focused on delivering power solutions to
In addition to plans for cleaner energy, the Company is also committed to developing community projects in
The Company is listed on the Australian Securities Exchange,
The project is significantly de-risked. The Company produced its first gas in 2014, has a Mining (or development) Licence valid to 2042 and 10 Prospecting (or exploration) Licences. The Company's project acreage covers a vast area spanning approximately 9,300 Km2 in total.
Tlou's 'Lesedi' and 'Mamba' projects already benefit from significant independently certified 2P gas Reserves of ~41 Billion Cubic Feet (BCF). In addition, 3P gas Reserves of ~427 BCF and Contingent Gas Resources of ~3,043 BCF provide significant additional potential.
The Company is planning an initial scalable power project. Following successful implementation of this first scalable project, the Company looks forward to evaluating longer-term prospects for the delivery of additional electricity to
This announcement may contain certain forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this announcement. Tlou Energy Limited undertakes no obligation to update any forward-looking statements.
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