LEI: 213800HAZOW1AWRSZR47
22 September 2025
Riverstone Energy Limited (the "Company" or "REL")
Sale of shares in Solid Power, Inc.
The Company is pleased to announce that, on 19 September 2025, it disposed of all of its shares in Solid Power, Inc. ("Solid Power"), a Louisville, Colorado based producer of all solid-state batteries for electric vehicles.
The block sale of REL's shares generated approximately $25.9 million in gross proceeds for the Company (excluding applicable taxes and expenses), representing a significant increase on the net asset value of Solid Power as at 30 June 2025 of $16.0 million.
Following completion of this transaction, the Company will hold net cash of approximately $276 million. The Company expects to return a substantial proportion of this amount to shareholders, net of reasonable provisions for running costs in the expected managed wind-down period, by way of a pro rata compulsory redemption of ordinary shares, details of which are expected to be announced in early October.
In accordance with the terms of its investment management agreement, REL paid to RIGL Holdings, LP (the "Investment Manager") an adjustment payment in respect of Solid Power shortly after the commencement of the managed wind-down. That adjustment payment was calculated based on the net asset value of Solid Power as at 30 June 2025. Accordingly, no further adjustment payments will be due to the Investment Manager in respect of the sale of the Company's shares in Solid Power.
For further details, see www.RiverstoneREL.com.
Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) are incorporated into, or form part of, this announcement.
Media Contacts
For Riverstone Energy Limited: [email protected]
Deutsche Numis - Corporate Broker:
Hugh Jonathan
Matt Goss
+44 (0) 20 7260 1000
Ocorian Administration (Guernsey) Limited - Company Secretary:
Birgitte Horn
[email protected]
