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i(x) Net Zero PLC - St Helier, Jersey-registered investment firm focused on energy transition and sustainability - Net asset value rises but turns to half-year loss. NAV per share at June 30 grows 23% to $0.98 from $0.80 at December 31, 2021. Explains that fair value of investments increases by 8.6% to $65.9 million at June 30 from $60.7 million at December 31.
Turns to interim pretax loss of $284,460 in the half-year to June 30, from a profit of $37.2 million a year prior. General and administrative expenses balloon to $5.0 million from $1.8 million. Net changes in fair value of financial assets plummets gain to $4.7 million from $39.0 million.
Firm says it is well positioned for the long-term, citing US ‘Inflation Reduction Act’ passed in 2022, which funds further transition to reducing green house gas emissions and expanding production of clean energy in the US with $369 billion.
i(x) Net Zero had its initial public offering on London's AIM in February 2022.
Current stock price: 20.73 pence
12-month change: down 73%
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