80 Mile increases its stake in Hydrogen Valley to 49% and signs an agreement with Tecnoparco

80 Mile announces that it has increased its stake in Hydrogen Valley to 49% and signed a memorandum of understanding with Tecnoparco for the supply of 40,000 tonnes of biofuel per year, aiming to reduce palm oil dependency.

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80 Mile PLC, an exploration and development company listed on the AIM, today announced a significant expansion of its investment in Hydrogen Valley, increasing its stake to 49%. This move follows a renegotiation of the terms of its Stage 3 option, reducing the cost of the transaction to £380,000, through the activation of a £380,000 working capital loan provided to Hydrogen Valley.

The company stated that this change in the financing structure allows for minimising shareholder dilution while strengthening its position in the renewable energy sector. Eric Sondergaard, Managing Director of 80 Mile, expressed his satisfaction with this strategic step, highlighting the importance of this increased stake in Hydrogen Valley for the company’s expansion into sustainable energy.

Greenswitch signs a memorandum of understanding for biofuel supply

In parallel, Greenswitch, a subsidiary of Hydrogen Valley, has signed a memorandum of understanding (MoU) with Tecnoparco, a multi-utility provider based in the Basilicata region. The agreement concerns the supply of 40,000 tonnes of biofuel per year to Tecnoparco, to be used in its cogeneration units. Currently, Tecnoparco imports palm oil, but this partnership is expected to reduce transport costs while enhancing its sustainability credentials by shifting to more local and responsible energy sources.

Tecnoparco, which serves industrial customers in Italy, will also benefit from a closer supply source, which should optimise the supply chain. Greenswitch considers that this agreement could be the first of several similar partnerships, as multiple Italian refineries are planning to incorporate biofuel into their production processes.

Continued growth in sustainable energy

80 Mile, already active in the exploration of critical metals, has expanded its portfolio to include assets in renewable energy, and this new alliance with Tecnoparco strengthens this strategic direction. 80 Mile also plans to increase its stake in Hydrogen Valley to 100% between December 2025 and December 2026, depending on market conditions.

Eric Sondergaard highlighted the importance of these developments for the company, mentioning that these agreements pave the way for future collaborations in the bioenergy and renewable energy sectors in Italy and beyond.

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