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13/04/2024
Mining News

European Green Transition plans London float for expansion

European Green Transition (EGT), an investment firm specializing in critical metals mining and renewable energy, intends to debut on London’s junior market, AIM. The company aims to raise capital to acquire additional assets and execute cost-effective development initiatives.

Cathal Friel, a familiar figure to London investors due to his roles at hVIVO, Poolbeg Pharma, Amryt Pharma, and Fastnet Oil & Gas, is among EGT’s co-founders and plans to participate in the fundraising efforts. Aiden Lavelle, an experienced chartered geologist, serves as the CEO of EGT, bringing 16 years of expertise, notably from Green Glen Minerals.

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EGT has already secured a diverse asset portfolio, led by the Olserum rare earth element (REE) project in Sweden. Alongside this, the company holds copper and graphite assets in Sweden, as well as critical mineral projects in Germany. Lavelle expressed optimism about the potential of the Olserum project to become Europe’s first operational rare earth mine, with plans to capitalize on this opportunity by engaging with major industry players or financial investors in the near future.

Friel, slated to serve as a non-executive director, emphasized EGT’s enthusiasm for the burgeoning opportunities within Europe’s green economy transition. The company’s strategy entails targeting distressed and undervalued assets within the green economy sector, drawing from Friel’s successful track record with companies like Cove Energy plc, Amryt Pharma plc, and hVIVO plc. EGT aims to replicate this success with its expansion endeavors.

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