Star Royalties Ltd Acquires a 2.5% Gross Revenue Royalty from MOBISMART Mobile Off-Grid Power & Storage Inc for C$300,000 Cash

The company has also granted MOBISMART a royalty buyout clause, under which the latter, in the context of a possible public event, could buy back the royalty in full for 10 million Canadian dollars in cash, or partially at pro rata.

Star Royalties Ltd (TSX-V:STRR) has acquired a 2.5% gross revenue royalty from privately held solar-focused company MOBISMART Mobile Off-Grid Power & Storage Inc for C$300,000 in cash.

The 15-year royalty covers all current and future gross revenue and all potential business disposal revenue generated by MOBISMART, which has developed mobile power systems that can be deployed at natural disaster sites and construction sites , urban, rural and remote where off-grid power is required.

The company has also granted MOBISMART a royalty buyout clause, under which the latter, in the context of a possible public event, could buy back the royalty in full for 10 million Canadian dollars in cash, or partially at pro rata.

READ: Star Royalties raises its royalty on carbon credit offsets from Alberta’s EMS forestry project

“We are proud to support a greener future by investing in a high-growth local technology company, MOBISMART,” said Alex Pernin, CEO of Star Royalties.

“Their products reduce or offset CO2 emissions in environmentally sensitive areas by replacing the use of diesel, which alone represents a global market of C$70 billion.

“In addition, their innovative business model is well positioned for high-growth sectors such as integrated power solutions, solar conversion of refrigerated vehicles and e-fleet fast charging stations.”

Pernin added, “The C$10 million royalty buyout provision reflects this growth potential. This green investment represents near-term cash flow from a leading jurisdiction, and we expect MOBISMART to grow rapidly into a leading off-grid power technology company across various industries and sectors.”

Founded in 2013 in Toronto, Canada, the MOBISMART product line reduces reliance on diesel for net zero goals and can be deployed virtually anywhere, including construction sites, military operations and mining camps.

It also maintains working relationships with industry leaders such as Siemens AG, Mitsubishi Heavy Industries Ltd., Sono Motors GmbH, Victron Energy BV and Schneider Electric SE.

Star Royalties is a precious metals, green royalties and streaming investment company, which created the world’s first carbon negative gold royalty platform and offers investors exposure to gold with a footprint increasingly carbon negative.

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