Update Coming Soon on Entropy Financing?In their Dec 30, 2021 News Release AAV states that an update on the Entropy $300M financing would occur once agreements are finalized. No speculation evident on who is financing this deal but I do see that Brookfield has raised US$7B for the financing of firms in the energy transition space. They also say they expect to close in Q1 2022.
https://bam.brookfield.com/press-releases/brookfield-announces-initial-us7-billion-closing-brookfield-global-transition-fund
CALGARY, AB, Dec. 30, 2021 /CNW/ -Entropy Inc. ("Entropy" or the "Corporation", a subsidiary of Advantage Energy Ltd. or "Advantage") (TSX: AAV) is pleased to announce it has entered a non-binding strategic financing agreement with a leading energy transition investor, and to provide a year-end corporate development update.
Highlights of the Strategic Financing Agreement
Entropy and a leading energy transition investor have agreed to the terms of an exclusive, non-binding financing agreement expected to provide sufficient capital for the execution of Entropy's near-term growth plan, including a structured initial commitment of $300 million. The financing is expected to close during first quarter 2022, subject to customary closing conditions including confirmatory due diligence and completion of definitive transaction agreements, and implies an Entropy value of approximately $300 million pre-financing. We look forward to working with our new investment partner to accelerate our mission of reducing atmospheric carbon dioxide using Entropy's low-cost, low energy-intensity carbon capture and storage ("CCS") technology. Further details of the transaction will be announced upon execution of definitive agreements.