Mast Energy Developments PLC (GB:MAST) has released an update.
Mast Energy Developments PLC, a UK-based energy company, reported challenges and progress in its 2023 operations, including the termination of a joint venture due to unmet obligations by investors, and securing alternative funding through RiverFort for up to £4m. Despite technical setbacks and market volatility, the company’s Pyebridge site achieved contractual revenue assurances and resumed operations with new funding. MED continues to focus on growing its portfolio by seeking shovel-ready and operational sites for acquisition.
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