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Renergen reports increased helium exports, more LNG production

Cape Times

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April 02, 2025

JSE-listed Renergen, which plans a Nasdaq IPO, has sold and exported its first helium production, and liquid natural gas (LNG) production increased by 21.9% from the previous reporting period, it said in a quarterly update Tuesday.

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Renergen reports increased helium exports, more LNG production

The owner of South Africa's first onshore helium production company said also that the Springbok Solar legal matter was heard on February 20, 2025, and judgment has been reserved.

Meanwhile, liquid helium plans to complete Phase 1C, which aims to enhance helium and gas processing to bring the plant to nameplate capacity, were close to finalisation, Renergen's CEO Stefano Marani said in the update.

The group said it was also in the process of obtaining a waiver from the US-based International Development Finance Corporation, from a breach of a debt covenant. Renergen has an outstanding debt of R346.4 million to the IFC at the end of February 2023, which is scheduled to repay in tranches by 2031.

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