DGAP-News ADM Energy PLC: Superdielectrics Investment Update
DGAP-News: ADM Energy PLC / Key word(s): Miscellaneous
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21 October 2020
ADM Energy PLC
("ADM" or the "Company")
Superdielectrics Investment Update
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on its investee company Superdielectrics Ltd ("Superdielectrics"), a UK energy technology business with a highly disruptive patented technology which has the potential to help solve the world's renewable energy storage problem.
Superdielectrics, a company in which ADM has a minority interest, has advised the Company that it has recently raised approximately £13 million. The financing round was closed at a price of £4.50 per share, which values ADM's holding of 195,000 shares at £877,500. In 2017 and 2018, ADM invested a total of £199,875 to acquire its Superdielectrics shares at an average cost per share of £1.025.
Superdielectrics is developing high energy density, low cost, low environmental impact electrical energy storage devices that will help create a clean and sustainable global energy and transportation system.
Whilst this is a legacy investment, it is still in line with the Company's investing policy to invest in opportunities within the natural resources sector, the oil services, power and energy sectors and in technology opportunities related to these sectors that the Directors believe either are of strategic value or represent a significant value opportunity. The Company is very pleased with the progress of Superdielectrics and its uplift in value and looks forward to monitoring Superdielectrics continued development in the future.