Lundin Energy AB (“Lundin Energy”) is pleased to announce it is changing its name to Orrön Energy AB (“Orrön Energy” or the “Company”) and is now a pure play renewables business.
From today, Orrön Energy will be a pure play renewables business, with a strong portfolio of high quality and low-cost assets in the Nordics and becomes the new renewables growth company within the Lundin Group of Companies. With cash flowing assets, no debt and financial capacity of up to MUSD 180 for acquisitions, Orrön Energy is in a unique position to take advantage of opportunities in the energy transition aiming to create long term shareholder value.
Orrön Energy is initially trading on the Nasdaq Stockholm under Lundin Energy’s ticker “LUNE” until registration of the name change to Orrön Energy (new ticker: ORRON), which is expected to occur on or around 1 July 2022.
Daniel Fitzgerald, CEO of Orrön Energy comments:
“We see many opportunities in the energy transition, and Orrön Energy is uniquely positioned to take advantage of these with a strong portfolio of cash generating renewables assets, no debt and with Board, management and the major shareholders fully aligned to grow the business. I would like to thank all shareholders who have supported Lundin Energy throughout the years and welcome you as shareholders in this new and exciting renewables company, aiming to create value through the energy transition.”
Visit Orrön Energy’s website for more information around the business strategy, renewables assets and guidance for the second half of 2022: www.orron.com.
For further information, please contact:
Director Corporate Affairs and Investor Relations
Tel: +46 701 11 26 15
Tel: +41 79 431 63 68
Orrön Energy is an independent, publicly listed pure play renewables company, with high quality and low-cost renewables assets in the Nordics. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Growth and Sustainability. As part of the entrepreneurial Lundin Group of Companies, and with a management and Board with a proven track record of successful organic growth, Orrön Energy is well positioned to create value for shareholders, local communities and wider stakeholders for a sustainable energy future.
Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.