Chariot Exits Water Business To Sharpen Focus On Power Operations

(RTTNews) - Chariot Limited (CHAR.L) on Thursday said it has disposed of its water business as the Africa-focused energy group sharpens its focus on its core Power division, which includes electricity trading and generation projects across southern Africa.

Chariot's divestment includes its stake in the Oasis Water Platform, which was working on a proof-of-concept desalination project in Djibouti.

This stake has been sold to AquaNexus Holding for $435,000 in cash. Chariot plans to use those funds for general corporate needs.

This decision fits into the company's strategy of focusing its efforts on renewable energy, power-to-mining projects, and its green hydrogen project, Project Nour, in Mauritania.

CHAR.L is currently trading at GBP 1.5825, up GBP 0.0065 or 0.41 percent on the London Stock Exchange.