M&A Activity • Apr 1, 2025
M&A Activity
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[Paris, 01 April 2025] – Following the signing of a Memorandum of Understanding (MOU) between CMG CleanTech S.A. ("CMG") and Panacea Global Energy, Inc ("PGE") CMG has announced that it has agreed to acquire 25% of PGE, valued at USD 18 million. The consideration will be settled through the issuance of CMG shares in accordance with the relevant laws.
CMG will collaborate with PGE on its Green Garden Village ("GGV") project in Florida. This groundbreaking initiative aims to develop a sustainable business ecosystem integrating residential communities, renewable energy, manufacturing, and wellness. The manufacturing facilities within GGV will include green hydrogen production, battery recycling, solar technology and heat pump innovations, with the goal of generating 100% of the project's energy requirements on-site.
Commenting on the announcement, CMG's Directeur Général (CEO), Darren Taylor said "This marks an exciting new chapter for CMG. Our collaboration with Panacea Global Energy on the Green Garden Village project aligns with our mission to drive innovation and sustainability in the clean energy sector."
Listed on the Euronext Paris Exchange, CMG CleanTech S.A. ("CMG") is driven by a strong, secure ESG strategy – to develop the clean hydrogen and solar technology at its disposal and help countries, organisations and individuals alleviate their environmental impacts and meet ambitious 2050 carbon neutrality goals.
Franziska Grobler Financial Media Group
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