CLN Energy Incorporates Step-Down Subsidiary in Egypt

CLN Energy Ltd has announced the incorporation of its step-down subsidiary, CLN Energy Solutions, in the Arab Republic of Egypt. The new entity, established with an investment of USD 2 million, will focus on the assembly of lithium batteries and operates within the chemical sector. This move is strategic for CLN Energy, aiming to strengthen its presence in the energy solutions sector and support lithium-ion battery manufacturing in Egypt, fostering operational synergies and future growth. CLN Energy Solutions is promoted by C L N General Trading L.L.C, a wholly-owned subsidiary of CLN Energy Ltd, making it a related party transaction.