Riverstone Energy Limited

M&A Activity • Sep 22, 2025

National Storage Mechanism | Additional information

RNS Number : 2175A

Riverstone Energy Limited

22 September 2025

LEI: 213800HAZOW1AWRSZR47

22 September 2025

Riverstone Energy Limited (the "Company" or "REL")

Sale of shares in Solid Power, Inc.

The Company is pleased to announce that, on 19 September 2025, it disposed of all of its shares in Solid Power, Inc. ("Solid Power"), a Louisville, Colorado based producer of all solid-state batteries for electric vehicles. 

The block sale of REL's shares generated approximately $25.9 million in gross proceeds for the Company (excluding applicable taxes and expenses), representing a significant increase on the net asset value of Solid Power as at 30 June 2025 of $16.0 million.

Following completion of this transaction, the Company will hold net cash of approximately $276 million. The Company expects to return a substantial proportion of this amount to shareholders, net of reasonable provisions for running costs in the expected managed wind-down period, by way of a pro rata compulsory redemption of ordinary shares, details of which are expected to be announced in early October.

In accordance with the terms of its investment management agreement, REL paid to RIGL Holdings, LP (the "Investment Manager") an adjustment payment in respect of Solid Power shortly after the commencement of the managed wind-down. That adjustment payment was calculated based on the net asset value of Solid Power as at 30 June 2025. Accordingly, no further adjustment payments will be due to the Investment Manager in respect of the sale of the Company's shares in Solid Power.

For further details, see  www.RiverstoneREL.com .

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) are incorporated into, or form part of, this announcement.

Media Contacts

For Riverstone Energy Limited:  [email protected]

Deutsche Numis - Corporate Broker:

Hugh Jonathan

Matt Goss

+44 (0) 20 7260 1000

Ocorian Administration (Guernsey) Limited - Company Secretary:

Birgitte Horn

[email protected]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISDGGDCBDDDGUB