Lehdistötiedote

Crown Energy AB: Operational update

Over the past few months, Crown Energy has focused on the development within our operational areas and would like to provide an update on the ongoing operations and our priorities moving forward.

Crown Energy has seen a trend of growing demand for real estate and related asset and management services throughout the year, creating new potential opportunities for expansion within our existing operational areas. This aligns with the increasing global attention Angola is receiving, as evidenced by recent high-profile engagements such as President Joe Biden's visit to Luanda in November 2024. We are working hard to ensure that these trends lead to new partnerships and projects going forward. Angola remains an important market for us, and we are committed to strengthening our engagement in the region in line with our goal of creating sustainable growth and value for our shareholders.

In November, the board and management conducted a site visit to Angola to explore existing assets and evaluate potential new projects and business opportunities, especially in relation to sustainable investment initiatives. The visit included meetings with local business partners and decision-makers, as well as a more in-depth review of the KAYA initiative in the Malanje region. During the visit to Malanje, local employees, consultants, and external experts highlighted the positive reception of the project and expressed confidence in our commitment. The delegation from Crown Energy also had the opportunity to engage with regional leadership, including the Governor of Malanje, who participated in the site visit to gain further insights into the project and its potential regional significance.

CEO Yoav Ben-Eli also participated in a breakfast seminar organised by Business Sweden, where discussions were held with representatives from larger companies about opportunities in Angola. The seminar was followed by a meeting with local representatives from Sweden, where the company’s operations and ambitions, as well as the EU’s growing role in international climate-related projects, were discussed.

Regarding the special examination requested by minority shareholders at the extraordinary general meeting in September, the Swedish Companies Registration Office decided in November to appoint the special examiner. However, the company has appealed the selection of the examiner to ensure that an independent candidate is assigned. Crown Energy will cooperate fully with the person who is ultimately appointed.

About Crown Energy
Crown Energy is transforming into a new and more socially responsible business direction, with focus on the medical technology industry and on improving the green footprint by way of investing in companies active in those areas.

The investment into the Healthtech company AccYouRate marked the start of the new Crown Energy in early 2023. AccYouRate holds high-tech patents and creates algorithms to support production of ‘smart’ wearable garments for use in the medical industry as well as services such as analysis, data gathering and extrapolations of medical information and growth of medical databases.

Crown has in early 2024 entered a strategic partnership with KAYA Climate Solutions GmbH, a project developer in nature-based solutions for climate change mitigation in Sub-Saharan Africa. This collaboration aims to be a starting point for large impact in climate change mitigation and adaptation through landscape restoration and nature conservation which will be financed by the voluntary carbon market and similar mechanisms.

The business area Asset Development and Management based in Angola is providing international companies Real estate and services. Crown Energy has been active in the oil and gas business for more than 10 years. Today the only remaining asset in the energy field is a passive holding of energy reserves which following the signing of a sale and purchase agreement is being divested. Crown has withdrawn from and/or written down its other earlier Licence holdings.