80 Mile PLC Expands into Biofuels with Strategic Acquisition

An update from Bluejay Mining ( (GB:80M) ) is now available.

80 Mile PLC is raising approximately £1.5 million through a placing to fund the acquisition of a strategic stake in Hydrogen Valley Limited. This move is part of the company’s strategy to enhance its biofuels and industrial gas capabilities. The acquisition includes the Greenswitch biofuels and chemical production complex in Italy, which could significantly boost 80 Mile’s operations and position it for revenue growth. The company plans to restart and scale up production facilities in alignment with EU and Italian government initiatives, potentially attracting substantial grant funding. Revenue generation is expected to start in Q1 2025, with further growth anticipated as production scales up and expands to include sustainable aviation fuels and hydrogen.

More about Bluejay Mining

80 Mile PLC operates in the petrochemical and industrial gas industry, focusing on exploration and production. The company is expanding its portfolio to include biofuels, sustainable aviation fuels, glycerine, and green hydrogen, aiming to establish a vertically integrated business unit.

YTD Price Performance: -53.23%

Average Trading Volume: 12,740,511

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £6.06M

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