UK-based Chariot has announced the acquisition of Eneo Water PTE. The Singapore-based company supplies and installs decentralised renewable energy water desalination solutions in Africa.
Chariot is investing in water desalination as part of its activities in Africa, particularly in the field of renewable energy and the emerging green hydrogen industry. The London, UK-based company has announced the acquisition of Eneo Water PTE, a company that specialises in water treatment, particularly in arid and freshwater-poor regions.
The company provides modular and scalable systems that are easy to deploy in remote areas of Africa, as do other players such as French company Suez and its compatriot Mascara Nouvelles Technologies. “The consideration for the acquisition will be payable in shares of Chariot common stock, with an initial amount of $0.5 million payable upon completion of the sale agreement and additional deferred consideration of up to $0.5 million payable upon financial completion of other projects,” Chariot said.
Chariot’s social action
Eneo is implementing a brackish water treatment project at the 60 MW Ghoubet wind farm built by Djibouti Wind Company, a special purpose vehicle owned by Africa Finance Corporation (AFC), Climate Fund Managers (CFM), Great Horn Investment Holding (GHIH), and the Netherlands Development Corporation (FMO).
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Eneo’s project aims to provide drinking water to the communities around the Ghoubet wind farm over the next 20 years. By acquiring Eneo, Chariot has a lever to implement its social initiatives around its projects in Africa. The British company has signed up for one of the largest green hydrogen projects announced on the continent. In a partnership with French energy company Total Eren, Chariot is developing the Nour project.
It involves the construction of solar and wind farms in the Mauritanian desert, with a capacity of 10 GW on a 14 400 km2 area. This clean electricity will be transformed into green hydrogen for export. In parallel, Chariot is developing renewable energy projects in Zimbabwe, Zambia and South Africa.
Jean Marie Takouleu