Kibo issues RFP to assess feasibility of replacing coal with biofuel for power generation

AltX- and Aim-listed Kibo Energy’s share price on the JSE rose by more than 9% on August 25, after announcing that it had started a request for proposals (RFP) process to investigate the feasibility of replacing fossil fuel (coal) with renewable biofuel. This followed an extensive review of the company’s operations and assets, with the company planning  to dispose of all its coal mining assets, but still retaining the associated energy generation projects through the introduction of innovative biofuel technology.