Mustang Energy Plc (LON:MUST)

Headquartered in London, Mustang Energy Plc. was established as a Special Purpose Acquisition Company (SPAC) in 2018. The main purpose of the company is to raise capital from investors and the initial public offering to acquire the already existing companies operating in energy and natural resource sector, especially those involved in on-shore projects.

The company tries to acquire development projects in energy and renewable sector that are low cost and possess significant undeveloped potential with access to existing infrastructure by using its exclusive managerial experience and relationships.  

In March 2021, Acacia Resources Limited (Acacia) became the largest shareholder with 24.03% stakes in the Mustang Energy. The main objective of the new deal between Mustang Energy and Acacia is to invest together in the renewable energy projects, develop wherever there is scope to include stationary energy storage and to invest together in energy storage/battery value chain.