GENERAL

Cyrq Energy

Acquired leading independent U.S. geothermal platform with portfolio of operating facilities and development pipeline

Please note this investment was executed during prior employment of a Reinova team member

• 2021 bilateral purchase of Cyrq and Hudson Ranch asset created scaled geothermal IPP.

• Baseload green power valued for capacity and renewable attributes.

• 2021 bilateral purchase of Cyrq and Hudson Ranch asset created scaled geothermal IPP.

• Baseload green power valued for capacity and renewable attributes.

• Dual-acquisition structure added ~50 % EBITDA at signing without auction premium.

• $150 m corporate refinancing cut cost of capital and freed collateral.

• Integrated assets, professionalised systems, built development pipeline and BD team.

• Expanded C-suite and governance to institutional standard.

• Positioned as development platform attractive to infra funds seeking firm green power.

• Team build-out supports growth narrative for strategic sale.