ReNu Energy announced the completion of the first tranche of investment in Vaulta

ReNu Energy Limited (ASX: RNE) announced that it had completed the first tranche investment of AU$250,000 in Vaulta Holdings Pty Ltd. Under the contract, the company will invest AU$1 million to obtain 20% post-money interest in Vaulta, as follows:

• The company will invest AU$500,000 in Vaulta equity in two instalments of AU$250,000 on 13 January 2023 and 13 April 2023.
• The total exercise price of 1:1 free Vaulta options is AU$500,000, of which 50% expires on 13 July 2023, and the remaining expires on 13 October 2023.

This contract enables the company to reduce battery waste. Vaulta batteries are manufactured for disassembly. It allows the replacement or re-purposing of individual cells that leads to less battery waste and reduced landfill.

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