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October 10, 2022Press Releases

Pacifico Renewables Yield AG becomes Tion Renewables AG

  • Name change to Tion Renewables AG completed
  • New brand reflects the energy transition as the center of the group’s activities
  • Rebranding accompanies strategic expansion to broaden business model

Gruenwald, October 10, 2022 Last week, Tion Renewables AG’s name change from Pacifico Renewables Yield AG to Tion Renewables AG officially became effective.

New brand reflects the energy transition as the center of the group’s activities

The group’s passion and commitment to accelerate the energy transition is now reflected in its name. In addition, the new brand embodies the group’s progressive and dynamic approach and its aspirations.

Christoph Strasser, Co-CEO of Tion Renewables AG: “The energy transition is at the center of everything we do. We wanted this to be reflected in our name. ‘Tion’ makes up the last four letters of ‘energy transition’ and is found in other nouns of action such as ‘acceleration’, ‘motion’, or ‘innovation’. These nouns denote our character and for what we stand. Furthermore, our name contains the term ‘ion’. Ions are charged particles that occur in the process of creating free electrons to produce electricity, they thus depict the wider space we operate in: Energy. At last, keeping ‘Renewables’ as part of the full name, represents our core activities and our origin as renewables natives.”

Rebranding accompanies strategic expansion

The rebranding accompanies Tion’s new strategic initiatives to expand the group’s business model. Since Tion’s stock market debut in 2019, the company has built a strong track-record as a dynamically growing renewable energy producer and has secured priority access to a pipeline of more than 5 gigawatts (GW) including 1.5 GW of battery storage projects.

Tion now aims to become the energy transition company of tomorrow. With its strategic expansion announced in July, Tion therefore decided to expand its focus beyond solar and wind projects and beyond deploying only its own balance sheet to benefit from the full spectrum of opportunities offered by the increasing global efforts to decarbonize the electricity system and by the group’s sizeable pipeline.

The name change was approved by Tion’s annual general meeting on August 29, 2022, with 99.99% of attending shareholders supporting the new name. Pacifico Energy Partners GmbH, one of Tion’s partner companies, will retain the previously shared brand as a renewable energy project developer.

Further information about Tion’s new name and the group’s strategic initiatives can be found on www.tion-renewables.com.

About Tion

Driven by the commitment to accelerating the transition toward a clean energy future, Tion Renewables AG operates a portfolio of wind and photovoltaic power plants across Europe with an installed capacity of 159 megawatts (MW), holds a stake in the European IPP clearvise AG, and has priority access to a pipeline of more than 5 gigawatts (GW) of photovoltaic and battery storage projects. By investing into both infrastructure and businesses within the energy transition space, Tion makes use of the full spectrum of opportunities offered by the increasing global efforts to decarbonize our electricity system. The company went public in 2019 and is tradable on Xetra as well as other German open market exchanges (ISIN: DE000A2YN371). To learn more, visit www.tion-renewables.com or connect with us on LinkedIn.

 

Disclaimer

This announcement may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Tion Renewables AG (“forward-looking statements”). Forward-looking statements can be identified by words such as “believe”, ”estimate”, “anticipate”, “expect”, “intend”, “will”, or “should” and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the management board of Tion Renewables AG and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. Tion Renewables AG will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will it reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and the company does not assume any obligation to do so. Tion Renewables AG does not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.

 

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