Orrön Energy Replaces Lundin Energy as its Name

Source: www.gulfoilandgas.com 7/1/2022, Location: Europe

The company that was formerly known as Lundin Energy AB ("Lundin Energy") is now known as Orrön Energy AB ("Orrön Energy" or the "Company") and operates only in the renewable energy sector. Orrön Energy will become the next renewables growth company within the Lundin Group of Companies as of right now. It will be a pure play renewables firm with a substantial portfolio of high quality and affordable assets in the Nordics. Orrön Energy is in a unique position to take advantage of possibilities in the energy transition with the goal of generating long-term shareholder value since it has cash-flowing assets, no debt, and financial capacity of up to MUSD 180 for acquisitions.

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.


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