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Environmental Solutions Group Holdings Limited and Genesis Unicorn Capital Corp. Announce Closing of Business Combination

Environmental Solutions Group Holdings Limited and Genesis Unicorn Capital Corp. Announce Closing of Business Combination

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Environmental Solutions Group Holdings Limited to Begin Trading on August 4th on the Nasdaq Under New Ticker Symbol “ESGL”

Environmental Solutions Group Holdings Limited (“ESA Holdings”), a sustainable waste solutions provider whose mission is to recycle industrial waste into circular products using innovative technologies and renewable energy through its operating entity in Singapore, Environmental Solutions (Asia) Pte. Ltd. (“ESA”), and Genesis Unicorn Capital Corp. (NASDAQ: GENQ) (“Genesis”), a special purpose acquisition company, today announced the successful closing of their previously announced business combination (the “Business Combination”). The Business Combination was approved at a special meeting of Genesis stockholders on July 26, 2023, and closed on August 2, 2023.

The combined company is named ESGL Holdings Limited (“ESGL” or the “Company”) and will be led by ESA’s existing management team. The combined company’s common stock and public warrants are expected to begin trading on August 4, 2023, on the Nasdaq under the ticker symbols “ESGL” and “ESGLW,” respectively.

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“The closing of the transaction and our listing on Nasdaq is an important milestone and an incredibly proud moment for the entire ESGL team,” said Quek Leng Chuang, Founder, CEO, and Chairman of the Board of ESGL. “ESGL is uniquely positioned to harness the momentum of Singapore’s sustainability drive and carbon reduction objectives. With our commitment to innovative technologies and renewable energy, we effectively convert industrial waste into circular products, aligning with our core mission. This strategic transaction bolsters our access to capital, empowering us to seize multiple avenues for growth. As we advance our mission of circularity and sustainability, we enable our partners to reduce their environmental impact, contributing to creating a more resilient planet.”

Samuel Lui, President and CFO of Genesis, commented, “We are excited to complete our business combination with ESGL and help support its growth strategy. Beyond Singapore, the ASEAN market is also grappling with the challenges posed by untreated plastic and industrial hazardous waste. ESGL aims to collaborate with its multinational corporate clients to extend its waste treatment solutions and capacities to other ASEAN countries, where stringent supply-chain environmental, social, and governance (ESG) mandates are increasingly in place. Together, we look forward to creating a positive environmental impact across Singapore and the broader ASEAN region.”

Source: GlobeNewswire


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