One of the co-founders of European Green Transition (EGT), Cathal Friel, has joined the company’s board as non-executive chairman.
Friel is a seasoned serial entrepreneur with over 20 years’ experience in corporate finance and M&A. He was previously chair of hVIVO PLC (formerly Open Orphan), where he successfully completed the acquisition and integration of two loss-making businesses, Venn Life Sciences and hVIVO.
Prior to hVIVO, he co-founded Amryt Pharma, which listed on the London Stock Exchange in 2016 and dual listed on Nasdaq in 2020 and was later sold to Chiesi Farmaceutici for US$1.48 billion in 2023.
He is also co-founder and chairman of Poolbeg Pharma, a publicly listed biopharmaceutical company which was demerged from hVIVO plc in 2021. and is Managing Director of Raglan Capital
Friel co-founded EGT in 2021, and has been critical in shaping EGT’s strategy, moving away from exploration and mining to focus EGT on acquiring revenue generating businesses.
The outgoing chairman Daniel Akselson will remain on the board as a non-executive director.
“EGT remains focused on delivering on its M&A strategy, targeting revenue generating businesses that support the green energy transition,” said Friel. “I see huge potential to replicate the successful M&A strategy implemented at hVIVO and EGT is currently in discussions with a number of revenue generating businesses operating in the green economy, and I believe this strategy will transform EGT into a strong, cash-generative and profitable businesses in the future.”
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A timely development for European Green Transition, as it looks to monetise its Olserum rare earths project in Scandinavia and capitalise on a number of ongoing opportunities. The experience that Friel brings will prove invaluable, and investors should look forward to some useful newsflow in the months to come.