Integrated Green Energy Solutions (ASX:IGE) finalises USA dealCraig Foley
GEP Fuel and Energy Indiana are partners in the US and together with Integrated Green Energy Solutions (ASX:IGE) they formed Integrated Green Partners.
As a result of recent meetings held with IGP in Texas, a commercial transaction has been agreed in relation to the procurement of the IGES plastics to fuel modules.
IGES would be paid a down-payment for initial module construction costs.
The upfront-payment agreed is USD$39,600,000.00 and forms part of the USD $70,000,000.00 that will ultimately be paid to IGES for the 24 modules.
Shares in Green Energy Solutions (ASX:IGE) are trading 9.1 per cent lower at $0.10.
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Source: Finance News Network