REN : Liquid Helium Progress:


Incorporated in the Republic of South Africa

(Registration number: 2014/195093/06)

JSE Share code: REN

A2X Share code: REN

ISIN: ZAE000202610

LEI: 378900B1512179F35A69

Australian Business Number (ABN): 93 998 352 675

ASX Share code: RLT

("Renergen" or "the Company" or "the Group")


Shareholders are referred to the announcement released on 6 May 2024, which detailed that

since 2 April 2024, the Original Equipment Manufacturer ("OEM") had brought the helium cold

box to the appropriate temperature to liquify helium in batches from its wells. This process

involved the purification of the helium to a level of 99.999% purity, which was validated by an

independent 3rd-party laboratory. The Company also advised that it would shut down the

facility to recommence the process from warm, demonstrating repeatability while undertaking

system checks, calibrations, and addressing possible corrective actions if necessary.

Renergen would like to advise shareholders that the Company has now completed the

relevant shutdown, checks, calibrations, and corrective actions and has restarted the facility

and resumed liquid helium production as of 4 June 2024. The liquid helium produced is being

utilized to cool the remaining components of the helium train, such as tanks and pipes, to

approximately -269 degrees Celsius.

The OEM contractor must now demonstrate that they are operating the entire plant at desired

temperature, pressure, and production flow parameters before the Contractor is allowed to

commence final contractual obligation of completing a Performance Test. The Performance

Test is envisioned to run over a period of seven days and will measure several critical criteria

that span recoverability of product, purity of product, and overall utility efficiency to ensure the

plant performs in accordance with the original design specifications. Helium produced during

this period will be kept in storage for supply to our customer.

Renergen has appointed two independent helium consultants to bolster our team's skillset for

operation once the Performance Test is complete and the plant has been handed over. The

consultants have a cumulative of several decades of experience in commissioning and running

liquid helium plants around the world, in countries including Algeria, Australia, Poland, Qatar,

Russia, and the United States. These consultants have already had the opportunity to engage

and review the relevant design data of our process plant and assess the overall progress of

the commissioning team on the front-end part of the process thus far. They have indicated

that no fundamental issues are likely to exist with the plant, as we have successfully liquified

helium from raw gas with proven repeatability, and further confirmed that the processes

currently being followed are standard commissioning procedures for a helium plant. They

further emphasized the importance of patience in this final stage of the commissioning

process, as it is a crucial step in ensuring the optimal performance of the plant.

"We acknowledge it has taken longer than originally planned to reach this step, but ensuring

the safe operation of the plant is our main priority right now. The progress achieved to date

puts us amongst only a few companies globally to achieve this status. It is too easy to focus

on the larger milestones and ignore smaller ones, but we should not lose sight that we will

shortly own and operate one of approximately less than 20 liquid helium production facilities

globally," added Renergen CEO, Stefano Marani. "We would like to assure our stakeholders

that everything is being done to conclude the commissioning timeously while ensuring long-

term longevity of the overall plant and consistency of production for years to come."


11 June 2024

Authorised by: Stefano Marani

Chief Executive Officer

Designated Advisor

PSG Capital

To readers reviewing this announcement on the Stock Exchange News Service (SENS), this

announcement may contain graphics and/or images which can be found in the PDF version

posted on the Company's website.

For all media relations please contact:

For all US investors and media relations please contact:

Georg Venturatos - Gateway Group, (949) 574-3860

Date: 11-06-2024 02:00:00

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