Cleanaway announced equity raising to fund its 2030 growth initiatives and GRL s acquisition

Cleanaway Waste Management Limited (ASX: CWY) announced that it is initiating an AU$350 million fully underwritten institutional placement and an AU$50 million non-underwritten share purchase plan to fund its 2030 growth initiatives as well as acquisition of Global Renewables Holdings Pty Ltd (GRL) for AU$168.5 million.

On 19 August 2022, the Company has signed a binding contract to acquire a 100% interest in GRL for AU$168.5 million. GRL is an approved composting facility that processes around 20% of Sydney’s ‘Red bin’ household waste as well as delivers approx. 30% landfill diversion and better carbon outcomes compared to landfill.

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