Crown Energy AB: Operational update
Accyourate Group
We are pleased to advise we are entertaining significant interest in the smart solutions that Accyourate provides. Furthermore, Accyourate has now signed another two pilot project contracts with Acea Group Spa, the Italian infrastructure and services company and the most recent with the Eteria Consortium, and Italian leading company in construction and logistics. This brings the total number of contracts signed to five to date this year. We are actively presenting to interested parties and we expect this trend to continue.
On 17th July Marco Lombardi, Accyourate’s CEO presented to the Italian Senate the sensorised solutions and comfortable wearable garments which can then record and transmit vital physical information of the wearer to a central control unit to be monitored in real time and assessed. This presentation was well received and has been reported on in the Italian press and in TV news reports. Here is a link to an article in Il Sole 24 Ore newspaper, Italy’s leading financial daily newspaper, with English translation:
Asset Management and Services in Angola
The occupancy rate in our properties is over 90% with a very high market demand both for residential and office solutions and services. The trend for the market is that demand keeps increasing and we receive new requests for apartments on an almost daily basis now.
We are busy looking for new guest houses to renovate and sublease as this service is being sought after again mostly by companies operating in the energy sector.
Many of our clients have indicated that towards the end of this year they will increase the size of their expats teams and will need additional accommodation and a few clients stated they have projects planned requiring leases of properties for at least 5 more years in Angola.
This is definitely encouraging news for Crown Energy and we are looking forward to expanding our presence and benefiting more from the increases in demand in the Angolan property market.
KAYA Climate Solutions
The KAYA initiative is progressing positively and a first location in the province of Malanje has been identified and secured with the provincial government. Kaya is working diligently out of the offices we have provided them with in Luanda and have been making regular site visits to Malanje. Work is continuing to complete the legal framework to commence operations that will qualify KAYA for carbon credit status as our projects there progresses.
Alternative Clean Energy Initiatives
In alignment with Crown Energy´s new green business direction and in conjunction with the KAYA initiative, Crown Energy has begun processes at both governmental level and at the grassroots level in Angola to explore the development of clean energy opportunities in the country with an initial focus on hydroelectric and solar power generation.
Board of Director
We are very happy that Patrik Fagerholm has now joined us and that we will be able to benefit from his experience working in companies at CFO level. We are also looking forward to welcoming Fanny Waller to the Board and to benefit from her expertise in Sustainability, Investor and Public Relations.