On 12 September 2022 Accsys announced ongoing discussions with its consortium partners regarding the Tricoya Hull Project and funding options given rising plant costs following construction delays including the impact of COVID-19 and the continuing volatility in energy and acetyls prices impacting on the plant’s short-term profitability.
Today Accsys is pleased to announce the resolution of these discussions resulting in Accsys agreeing to acquire 100% ownership of the Tricoya group entities, being Tricoya Technologies Limited (“TTL”) and Tricoya UK Limited (“TUK”) (together with TTL the “Tricoya Entities”), along with the refinancing and reduction of debt associated with TUK.