London Stock Exchange welcomes New Energy One Acquisition Corporation plc to the Main Market

The London Stock Exchange welcomes New Energy One Acquisition Corporation Plc (NEOA), a company that has been formed for the purpose of effecting a business combination with targets that are positioned to participate in or benefit from the global transition towards a low carbon economy, to the Main Market under the ticker symbol NEOA.  

The company is sponsored by LiveStream, a company with investors that include members of NEOA’s Executive team, and Eni, one of Europe’s largest energy companies.

Unprecedented government support for renewables, coupled with the significant global decarbonisation requirement as governments around the world target Net Zero, makes the energy transition a particularly attractive investment opportunity.

NEOA operates on the belief that significant investments in technology, alternative fuels and infrastructure will be required across multiple sectors to achieve a tangible reduction in emissions, with a large and growing market of solutions emerging across the Energy Transition value chain. Investing in super charging industrial decarbonisation across hard to abate sectors such as crude oil refining, steel production, cement, extraction, aviation and shipping is key to commitments given by the governments of U.K and E.U countries to achieve 1.5 degrees Celsius and net zero targets.

NEOA’s Executive Team consists of investors and C-suite leaders in the Energy Transition sector, with an aggregate of more than 60 years of experience within the energy sector, more than 20 years of proprietary fund management, principal investing and operational experience between them and a demonstrated track record of unlocking significant shareholder value.

NEOA, alongside its cornerstone investor Eni and Board of industry advisors, will look to leverage its strong external network and sector expertise to identify, support and scale an Energy Transition business in Europe to accelerate the global shift towards a low-carbon economy.  

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
173.25
Listing/Admission to trading
11 Mar 2022

Sanjay Mehta, Executive Director, said:

"We are proud to be launching NEOA as the first SPAC listed on LSE focused on driving the Energy Transition. In order to achieve the net zero targets that have been set globally, and recommitted at COP26 in Glasgow, we need to supercharge decarbonisation of industrial processes, decarbonisation of fossil fuels and produce transition fuels - blue hydrogen, green hydrogen, green ammonia at commercial scale and price point. NEOA as a SPAC provides an innovative investment asset class with the capital and industry expertise to invest in leaders that are integral to accelerating the journey towards net zero commitments.”

David Kotler, Executive Director, said:

“We have chosen to list in London as it continues to be a major gateway to attract international capital. With strong government support across Europe and a considerable pipeline of companies focused on the decarbonisation of fossil fuels, we see great potential in the sector for a business combination. With an Executive Team that has over 60 years of collective experience in the sector, and the support of one of Europe’s largest energy companies, we are ready to create an energy transition leader.”

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