Delorean's $30m corporate lending facility with Tanarra Group

Delorean Corporation Limited (ASX:DEL) has successfully executed a binding Facility Agreement and Options Deed with Tanarra Group for a 3-year term corporate finance facility package of up to $30m. The Financial Close on the facility is on track for mid-September 2024, enabling Delorean to commence construction of its shovel-ready build, own, operate bioenergy infrastructure projects.

Executive Commentary on Delorean's Corporate Lending Facility

Under Delorean's build, own, operate strategy, the company expects to see significant value unlocked, particularly upon completion of SA1 construction through to operation at full capacity, expected in Q1 2026. The company also expects to refinance the Tanarra construction facility in full at the 3-year maturity, with terms in line with typical longer-term project financing solutions.

Summary of Delorean's $30m Corporate Lending Facility

Delorean Corporation Limited (ASX:DEL) has successfully secured a 3-year term corporate finance facility package of up to $30m with Tanarra Group. The facility will enable Delorean to commence construction of its shovel-ready build, own, operate bioenergy infrastructure projects, with the potential to add significant shareholder value. The Financial Close on the facility is expected in mid-September 2024. Delorean's ambitions include unlocking value through its build, own, operate strategy and the completion of the SA1 construction, with plans to refinance the Tanarra construction facility in full at the 3-year maturity.