Latest news with #Marani
IOL News
28-05-2025
- Business
- IOL News
Renergen secures helium rights as SA minister dismisses Springbok Solar's appeal
Renergen Renergen says the minister of the Department of Mineral Resources has dismissed the appeal by Springbok Solar against our helium rights in the Virginia Gas Project. South Africa's Minister of Mineral and Petroleum Resources has dismissed an appeal by Springbok Solar Power Plant against Renergen's helium extraction rights at the Virginia Gas Project, affirming the company's legal authority to extract and commercialise helium as a by-product of natural gas. The decision, announced on Monday, ends a protracted dispute and strengthens Renergen's position as a key player in South Africa's helium and natural gas sector. The ruling follows a thorough review of legal and scientific arguments, resolving a contentious debate over whether helium should be classified as a mineral or a petroleum by-product under South African law. The Minister's decision confirms that helium extraction falls within Tetra4's existing Production Right, a subsidiary of Renergen, aligning with the Mineral and Petroleum Resources Development Ac. The Minister said this interpretation promotes 'resource efficiency and regulatory consistency' in South Africa's petroleum framework. 'This is a landmark decision for Renergen and its shareholders,' said Stefano Marani, the CEO of Renergen. 'The appeal was a tactical move to challenge our position, but with this matter now settled, we can focus on scaling up production and delivering value as South Africa's leading helium and natural gas producer.' The decision also has implications for Springbok Solar, whose appeal was deemed 'vexatious' by Renergen. Additionally, a recent ruling by the Director-General of the Department of Mineral and Petroleum Resources set aside a Section 53 approval critical to the Springbok Solar Project, rendering its development unlawful. Renergen sought urgent relief to halt construction at the solar project but was denied by the Bloemfontein High Court on May 23, 2025, due to procedural urgency requirements. The court instructed Renergen to place the matter on the ordinary roll, with a hearing expected in early June. The ruling secures Renergen's ability to tap into its world-class helium reserves in the Free State, a critical asset given helium's growing demand in industries such as medical imaging, aerospace, and semiconductor manufacturing. Analysts say the decision bolsters investor confidence in Renergen's long-term growth, as the company moves to ramp up production at the Virginia Gas Project. Marani expressed optimism about ongoing negotiations with Springbok Solar, stating, 'We are confident this resolution paves the way for a mutually beneficial outcome.' However, with the solar project's legal standing in question, the dispute may continue to unfold in court next month. Renergen's share price at 9.11am was flat at R11.54 on the JSE. Last Tuesday Renergen's share price rocketed 44.7% following the announcement of a buyout offer for South Africa's only onshore gas production company by Nasdaq-listed ASP Isotopes, to create a merged company focused on globally sought-after critical materials. ASP Isotopes, which only last month indicated it wished to do a secondary listing on the JSE later this year, has made a firm share-for-share offer to acquire 100% of the shares in Renergen, by way of a scheme of arrangement or standby general offer. | BUSINESS REPORT
IOL News
20-05-2025
- Business
- IOL News
ASP Isotopes to acquire Renergen in strategic merger for critical materials
Renergen is pioneering the future of energy. With a focus on Liquefied Natural Gas (LNG) and Liquefied Helium (LHe), iyt is at the forefront of driving positive change in the energy sector. Image: Supplied Renergen's share price rocketed 44.7% on Tuesday following the announcement of one of the most surprising deals on the JSE this year, the buyout offer for South Africa's only onshore gas production company by Nasdaq-listed ASP Isotopes, to create a merged company focused on globally sought-after critical materials. ASP Isotopes, which only last month indicated it wished to do a secondary listing on the JSE later this year, has made a firm share-for-share offer to acquire 100% of the shares in Renergen, by way of a scheme of arrangement or standby general offer. Renergen's shares traded at R10.13 on the JSE Tuesday, up 44.7%. In the US, ASPI's share price fell 10.7% to $6.71. Renergen's market capitalisation was R1.09 billion on the day. 'This is an exciting step for ASP Isotopes. With the imminent spin-out of QLE, I have been considering the expansion of the ASP Isotopes business, and this opportunity is the perfect fit for us,' said ASP Isotopes chairman and CEO, and QLE (Quantum Leap Energy) chairman and CEO Paul Mann in a statement. He said both isotopes and helium were viewed by many governments as critically and strategically important materials. 'The combination of these two companies will create a company with huge strategic value and a vital part of a fragile supply chain enabling so many industries," said Mann. Renergen CEO Stefano Marani said after a tumultuous year and a half (that included the first helium production and delivery to a customer), he was excited about the combined prospects of the new company and its future access to the US investor base, who have a deep understanding of critical minerals, as well as oil and gas. Marani said this access has 'for the longest time been the final critical ingredient required to unlock the Virginia Gas Project.' 'In joining our two companies, not only do we get this, but even more exciting is the expansion of the business horizontally across our key helium customer bases of nuclear, healthcare, semiconductors, and rocketry,' he said. He said that as the world became more insular, critical materials were quickly becoming the most sought-after commodities, and the merger would place ASP Isotopes f"ront and centre". 'Offering customers a fully integrated supply chain reduces a significant amount of risk for them and makes our offering incredibly valuable," said Marani. ASP Isotopes said the goal would be to generate earnings before interest, tax, depreciation, and amortisation of more than $300 million by 2030. The transaction had received support from 35% of Renergen's shareholders, and the transaction was expected to close in the third quarter, ahead of the planned spin-off of QLE. ASP Isotopes uses South African research and technology to enrich isotopes that can be used in the medical, semiconductor, and nuclear industries. It has been listed on the Nasdaq since 2022, with a market capitalisation of $400 million (R7.5bn). ASP Isotopes produces and commercialises enriched Carbon-14 (C-14), Silicon-28 (Si-28), and Ytterbium-176 (Yb-176). These isotopes are enriched via two processes: Aerodynamic Separation Process (ASP Technology) and Quantum Enrichment (QE Technology). Currently, Russia dominates global isotope production, with about 85% of stable isotopes being produced there. Since 2022, isotope availability has been intermittent because, given Russia's dominance, the world was susceptible to global disruptions of industrial production, with many industries and defence capabilities facing existential risk without a secure isotope supply. In October 2024, ASPI and TerraPower, which is founded and backed by Bill Gates, entered into a term sheet. TerraPower was expected to fund a HALEU production facility in South Africa and purchase all HALEU produced over a 10-year period. In November 2024, ASPI Isotopes signed a memorandum of understanding with the South African Nuclear Energy Corporation (Necsa) to collaborate on research, development, and commercial production of advanced nuclear fuels. Visit:
IOL News
06-05-2025
- Business
- IOL News
High Court ruling clarifies Renergen's operations in South Africa's gas sector
CEO Stefano Marani at the helium and liquid natural gas production facility in Virginia, Free State. The company has won a High Court ruling that clarifies the regulatory framework for upstream gas sector. Image: supplied JSE-listed Renergen has won a "legal victory" that frees its onshore helium and natura gas production from operating under National Energy Regulator of South Africa (NERSA) regulations, and the ruling adds regulatory clarity to South Africa's petroleum sector. The High Court of South Africa, Gauteng Division, did, on May 2, 2025, rule in favour of Renergen's owned subsidiary Tetra4's request for a declarator that the Gas Act of 2001 does not apply to production and incidental activities related to upstream petroleum activities, including a requirement for licensing of trading, construction, and operation of liquefaction facilities outside the piped gas industry. "This judgment is a landmark win for Tetra4 and the entire upstream gas industry. It affirms that upstream gas production and related activities, including on-site liquefaction, are outside the scope of the Gas Act and NERSA's licensing regime, provided they do not supply the regulated piped gas industry,' Renergen CEO Stefano Marani said. In December 2021, Tetra4 initiated High Court motion proceedings to seek clarification on the jurisdiction of NERSA regarding certain operational activities. 'This order shows these activities fall under the regulatory purview of the Production Right granted in accordance with the Mineral and Petroleum Resources Development Act 28 of 2002 and resolves ambiguity and potential contradictions arising from disparate sets of legislation affecting Tetra4,' said Marani. Notably, the court found Tetra4 did not require a NERSA license for trading in gas (such as methane and helium) when such trading occurs outside the piped gas industry, and not involving the national pipeline grid or downstream market regulated by NERSA.
Boston Globe
14-03-2025
- Sport
- Boston Globe
MIAA basketball championships live updates: St. Mary's vs. Norwell girls, Norwell vs. Old Rochester boys
pinned MIAA basketball championship scores and schedule .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied All games at Tsongas Center, Lowell Friday 6:15 p.m. — Division 3 girls: No. 1 St. Mary's vs. No. 3 Norwell 8 p.m. — Division 3 boys: No. 2 Norwell vs. No. 20 Old Rochester Saturday Noon — Division 5 boys: No. 1 Pioneer Valley vs. No. 2 Hopedale 2 p.m. — Division 4 boys: No. 5 Monument Mountain vs. No. 6 Georgetown 4 p.m. — Division 2 girls: Division 2: No. 1 Medfield vs. No. 6 Worcester South 6 p.m. — Division 1 girls: No. 1 Wachusett vs. No. 2 Bishop Feehan Sunday Noon — Division 5 girls: No. 2 Hoosac Valley vs. No. 5 Renaissance 2 p.m. — Division 4 girls: No. 1 Cathedral vs. No. 3 South Hadley 4 p.m. — Division 2 boys: No. 1 Malden Catholic vs. No. 6 Somerset Berkley 6 p.m. — Division 1 boys: No. 1 Franklin vs. No. 3 Newton North How did they get here? — 5:45 p.m. .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied After ousting defending champ Foxborough, Norwell one win away from title .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied TAUNTON — As his Norwell girls' basketball team advances deeper and deeper in the Division 3 tournament, coach Matt Marani is often asked variations of the same question. Are they ready? 'They've been ready since third grade,' Marani replies. After outlasting No. 2 Foxborough, 55-47, in the semifinals at Taunton High — avenging a 23-point loss to the Warriors in the 2024 state championship in the process — the No. 3 Clippers are one win away from capturing the first state title in program history. Advertisement Bella Owumi, St. Mary's block out noise, roll past Pittsfield into final .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied WORCESTER — Cheers. Jeers. Taunts. Chants. All of it came from the Pittsfield student section, which traveled well to Worcester State University for the Division 3 girls' basketball semifinal . Although top-seeded St. Mary's shot into the wall of noise to start the win-or-go-home game, it wasn't enough to shake the team's confidence. Riding three first-quarter 3-pointers from senior Juliana Conte, the Spartans jumped out to an early 16-2 lead. From there, St. Mary's — appearing in its sixth consecutive semifinal — was in control, ultimately defeating No. 5 Pittsfield, 59-43, to advance to this weekend's state final at the Tsongas Center in Lowell. What did we predict for Division 3 before the playoffs started? — 5:30 p.m. .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied Trevor Hass and Graham Dietz, Globe correspondents Favorites : No. 1 St. Mary's (19-3), No. 2 Foxborough (19-1). Sleepers: No. 6 Fontbonne (15-5), No. 10 Apponequet (17-5). Analysis : There are two teams, St. Mary's and Foxborough, to go through. Defensive-minded Norwell vs. athletic St. Mary's in opener — 5:15 p.m. .cls-1{clip-path:url(#clippath);}.cls-2,.cls-3{fill:none;}.cls-2,.cls-3,.cls-4{stroke-width:0px;}.cls-5{clip-path:url(#clippath-1);}.cls-3{clip-rule:evenodd;} Link copied By Trevor Hass, Globe correspondent Matchup : No. 1 ST. MARY'S (23-3) vs. No. 3 NORWELL (23-1). Advertisement When: 6:15 p.m., Friday at Tsongas Center Coaches : Jeff Newhall, 23rd year (St. Mary's); Matt Marani 18th year (Norwell). St. Mary's starting 5 : G Lily Norton (So.), G Juliana Conte (Sr.), G Bella Owumi (So.), F Jillian Roberts (Jr.), F Reese Matela (Sr.). Norwell starting 5 : G Reagan Dowd (Sr.), G Holly Panttila (Sr.), G Paige Maguire (Sr.), F Alex Cassidy (So.), F Maddie Oliver (Sr.). Players to watch/St. Mary's : It starts with Bella Owumi, an electric playmaker who has improved her shooting ability, defense, and rebounding. Averaging 17 points and 12.2 rebounds, Owumi excels in transition and often makes the game look easy. Reese Matela is also a force down low, and the two work well in tandem around the rim. Together, they help St. Mary's play a fast, relentless, and overpowering style. Players to watch/Norwell : Maddie Oliver took home South Shore League MVP honors for the third consecutive year thanks to another well-rounded season. The 5-foot-11-inch forward controls the glass and finishes strong inside, but is also a prolific passer who can handle the ball and drive on opponents. Over her last three games, she's averaged 24 points, 12 rebounds, and 4 assists. Oliver complements Reagan Dowd perfectly to form a prolific 1-2 punch their fathers proudly refer to as 'Batman & Robin.' The lowdown : Norwell has inched closer and closer to its first state title in program history, making the quarterfinals in 2022, semifinals in 2023, and finals in 2024. The experienced, deep, and defensive-minded Clippers are fully capable of finishing the mission, but Owumi and the ultra-athletic Spartans stand in their way. It will be interesting to see whether or not Owumi and Oliver match up against each other. Either way, fans are in for a treat, as two of the best players in the state go head to head. But, in games like this, it's often the role players that decide the outcome. Advertisement Last championship appearance : St. Mary's (2023); Norwell (2024). Brendan Kurie can be reached at
