Calvert International AG (CIAG), ISIN DE000A2YN5X9, a rapidly growing investment holding company focused on the African energy sector, announced today that it has signed a definitive agreement to acquire all outstanding shares in Emerging Energy Corp. AG (‘EEC’), a firm dedicated to creating growth in the African hydrogen and renewable energy space. CIAG Management welcomes the possible acquisition as a milestone in the Company’s strategic shift towards being the preeminent listed energy holding focused on Africa. The transaction is expected to close by the fourth quarter of 2023, subject to regulatory approvals and standard closing conditions.

EEC is a dynamically growing firm, active in the areas of hydrogen, biogas and off-grid solar solutions. Through its shareholdings, EEC holds minority interests in biogas and off-grid solar developers active across Africa. Through its acquisition of EEC, CIAG sees significant growth potential to its currently existing business model, such as the expansion of CIAG into the highly sought-after off-grid solar and hydrogen markets, as well as access to the capital market for growth funding of CIAG’s new wholly owned subsidiary. Furthermore, possible personnel support, know-how transfer and economies of scale, as well as regional diversification will also give rise to synergies.

NJ Martin Ayuk, CEO of CIAG comments: “Emerging Energy is highly interesting as an investment, because through its strong presence in the African hydrogen and off-grid solar markets, it is the ideal building block for us to continuously form a strong energy holding, listed in Germany and active across Africa. Through this deal, CIAG welcomes investors to participate in the African energy growth story. We look forward to working closely with EEC’s management team to conclude the deal and implement and finance hydrogen and solar off-grid solutions across Africa.”

++ About CIAG
Calvert International AG (CIAG), ISIN DE000A2YN5X9, is an investment holding company focused on the African energy sector and headquartered in Frankfurt am Main. CIAG’s shares are listed on the Duesseldorf Stock Exchange. CIAG currently operates as the management holding company of its subsidiaries Centurion Law Group in South Africa and Mauritius, providing mainly growth capital, management services and strategic advice to its subsidiaries. Centurion Law Group provides comprehensive professional services, in particular legal advice in all African jurisdictions around market entry and pan-African expansion strategies for private and public sector companies, with a focus on the African energy sector.

++ About EEC
Emerging Energy Corp. AG is a firm dedicated to creating growth in the African energy sector and related infrastructure. EEC and its affiliates currently hold minority interests in Sustainable Power Generation PTY Ltd., a developer for off-grid power solutions across Africa, as well as (B)energy Operations UG & Co. KG, a social
biogas company.