NewStream Energy Technologies Group Inc.
DENVER, CO / ACCESSWIRE / September 9, 2024 / NewStream (OTCMKTS:NSGP) is pleased to announce it has closed the first stage of a private debt round, enabling it to engage its auditors, Malone Bailey, for the completion of its audits and quarterly filings.
The consolidation of NewStream into the public company increased the audit requirements of the company which are now more complex. In addition, Management has been working on the hiring of a well-qualified CFO.
The shares of NSGP will not be quoted by market makers on the OTC Market until such time as audits are completed and the filings are updated. With the closing of the funding above, we expect to be able to complete the filing process within the next 90 to 120 days.
Once NSGP filings are current, the Company plans to list on the OTC QX/QB. OTC compliance has recently confirmed that the company meets all other qualifying requirements and up listing is expected to be seamless.
Management of NSGP and its subsidiaries have been very focused on the commercial side of the business. Through our subsidiary, BioTech Energy Solutions, we have a pipeline of four renewable natural gas projects in the U.S. and three projects in Mexico. The total dollar value of these projects is in excess of $750,000,000. In addition, through our subsidiary Wyoming New Power, we have a pipeline of over $500,000,000 in low carbon intensity power and carbon capture projects. In addition, NSGP is under MOU with a large food processor for a solution to process all their food waste into RNG.
Management has also been working with major banks and financial institutions on predevelopment and project financing. Currently, NSGP is in the market through a major bank for up to $15M pre-development financing. We are also pleased to announce that we have received proposed terms from a major UK-based Financial Institution for $750,000,000 in project financing on what we believe are very favorable terms.
The commercial side of our business is extremely strong. The basis of our project pipeline are the exclusive licenses for two of the globally leading biomethane and carbon capture low carbon intensity power solutions. We are firming up offtake contracts with credit worthy off takers and are on pace to break ground late Q4 2024.
We are looking forward to completing our filings and resuming full trading on OTC markets.
Contact Information:
Robin Eves
CEO
robin.eves@nsetgroup.com
1(203) 918-2762
SOURCE: NewStream Energy Technologies Group Inc.