AMSTERDAM: New Sources Energy N.V. (NSE) and Conduit Ventures Ltd. (CV) said on Thursday they have signed a memorandum of understanding to form an exclusive strategic partnership aimed at jointly financing and developing renewable energy and energy efficiency projects.
The collaboration will combine private and public equity mechanisms to support portfolio companies in the energy transition space. Binding agreements, subject to regulatory clearance, will be submitted for shareholder approval at an extraordinary general meeting of NSE.
Conduit Ventures plans to establish a dedicated private equity fund to finance New Sources’ pipeline of projects, which the company has built over the past year. The fund is pending compliance approvals.
“The New Sources-Conduit Ventures collaboration is a powerful combination,” said Leonard Vereecken, CEO of New Sources. “Our teams bring over 100 years of combined experience in renewable energy. This partnership will unlock the potential of the energy transition.”
John Butt, founder and general partner of Conduit Ventures, said the firms’ missions are “strategically fully aligned” to deliver long-term sustainable growth. “New Sources will establish strategic partnerships with a strong operational focus and international footprint,” he added.
The partnership will target renewable energy projects across the EU, Gulf region, Africa, South America, Asia and the Caribbean, focusing on scale-up opportunities that demonstrate commercial viability and financial performance.
New Sources is a publicly listed impact company focused on net-zero investments. Conduit Ventures, founded in the early 2000s, is a UK-based FCA-regulated investment manager specializing in hydrogen and low-carbon technologies.
For more information, visit www.newsources.energy and www.conduit-ventures.com
