Africa New Energies

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Unlisted (UK)
Market Cap:
52 weeks high
52 weeks low

In brief

Africa New Energies Limited (ANE)  was founded by two South Africans Stephen Larkin and Brendon Raw in 2008. ANE was incorporated in 2012, where its sole asset is its wholly owned subsidiary, Alumni Exploration East Namibia, which in turn owns 90% of Blocks 2219 and 2319 in Namibia with the Namibian State Owned Oil Company, Namcor owning the remaining 10%. These two oil blocks were awarded in December 2012 after group sister company, Pinpoint Energy Namibia was hired by the UN African Innovation Foundation to assist Namibia to achieve energy independence in an environmentally sustainable way. The findings of the report were that a universal solar access program was only financially feasible if an interim natural gas provision funded an off-grid renewables program.