New Sources and Conduit Ventures announce unique strategic collaboration

13 Nov 2025 08:00 CET

Issuer

NEW SOURCES ENERGY N.V.

Amsterdam & London, 12 November 2025 – New Sources Energy N.V. (NSE or New Sources) and Conduit Ventures Ltd. (CV or Conduit Ventures) are pleased to announce they have signed a memorandum of understanding aimed at forming an exclusive strategic collaboration, creating a unique private and public equity combination to jointly finance, develop and grow renewable energy & energy efficiency projects and companies. Following the execution of the binding collaboration agreements, which remain subject to the applicable regulatory clearances, the agreements will be submitted for approval at an extraordinary general meeting of shareholders of NSE.

Over the last year New Sources’ management team has generated a pipeline of promising projects and in order to finance these potential portfolio companies, a dedicated private equity fund will be set up by Conduit Ventures subject to compliance approvals. The management teams of both New Sources and Conduit Ventures believe that the unique collaboration will create value by its combined efforts, now and for decades to come.

“The New Sources-Conduit Ventures collaboration is a powerful combination, combining the best of both worlds” said Leonard Vereecken, New Sources’ CEO. “Conduit Ventures’ team consist of seasoned investors and are considered early pioneers in the hydrogen and fuel cell sector. Several of their portfolio companies are market leaders today. The reach and expertise of Conduit Ventures in combination with their collaborative investment approach is uniquely complementary to how the New Sources’ organisation is set up to develop and grow companies. Our teams of renewable energy sector specialists with more than 100 years of combined experience, will unlock the potential of the energy transition, the greatest value-creation opportunity of our generation. This collaboration will accelerate the growth of promising renewable energy companies.”

Conduit Ventures’ founder and general partner, John Butt states: “Conduit Ventures subscribes to New Sources’ mission and vision. Our dedicated New Sources fund and our finance-first impact mission and vision are strategically fully aligned to deliver long-term sustainable growth for our investors. New Sources will set up important strategic partnerships with a strong operational focus and international footprint, making sure that the right talent is able to act swiftly and implement solutions for often complex issues in challenging environments. It is this combination of financial and human resources that is dedicated to deliver results and drive performance for the New Sources portfolio companies.”

Besides acquisition and business development opportunities, the collaboration will focus on developing renewable energy projects in the EU, the Gulf region, Africa, South America, Asia and the Caribbean, through bridging world-class technology solutions and working with offtakers and operational partners to derisk projects. The focus is on the growth development stage of portfolio companies; the key facets being scale-up attributes that translate in commercial viability and financial results of the renewable energy products and services.

For more information, visit websites: www.newsources.energy and www.conduit-ventures.com.

About New Sources

New Sources is a publicly listed impact company, with a mission to accelerate the energy transition towards net-zero through investing in key energy transition companies and projects. In the shift to a world with net-zero CO₂ emissions, New Sources focuses on developing, operating and growing renewable energy production and technology companies that generate competitive financial returns.

About Conduit Ventures

Established in the early 2000s, Conduit Ventures is a pioneer in the transition to cleaner energy and adjacent markets. As a UK-based, FCA-regulated investment manager, Conduit Ventures has been at the forefront of advancing the global shift toward sustainable energy systems, with hydrogen as a central pillar of its strategy. The firm invests in innovation-driven solutions and develops transformative projects that enable industrial decarbonisation, energy resilience, and sustainable growth.

Recognising that no single technology can address the full complexity of the energy transition, Conduit Ventures brings together capital, technology, and strategic partnerships to accelerate the deployment of integrated low-carbon solutions across multiple geographies and sectors.

For further information:

New Sources Energy N.V.

Apollolaan 151

1077AR Amsterdam

the Netherlands

T: +31 (0)20 239 0299

E: info@newsources.energy

W: www.newsources.energy

Amsterdam Euronext ticker: NSE.AMS

Conduit Ventures Ltd.

3 Devonshire St.

London W1W 5DT