The Corona Virus still holds the world firmly in its hands. In the meantime, Areos-Energie AG has also hit it and thrown us back in some areas.
To limit these effects to a minimum, we have decided to revise the preparations made. For the time being, we will not use the land already bought in North Macedonia. Since Professor Petrovic and some of the companies involved in the implementation are based in Belgrade, we build the prototype in Serbia. Certainly, this change will enable us to recover some of the lost time.
Proudly we announce that we won a strategic partner for the African continent. Thanks to his outstanding relationships in various countries, we have already received several requests for off-grid systems. Meanwhile, a firm letter of intent has been duly signed and reconfirmed by us.
The tobacco industry requires much energy to clean and disinfect the machines, to dry the tobacco or to be able to store the finished products in a cool and dry place. As of today, the exceptionally high energy demands are provided with fossil fuels. Various producers have committed to reducing their CO2 emissions by 100% within the next ten years. The VPA2 from Areos-Energie AG is a very welcome opportunity to implement this goal more quickly and cost-effectively and efficiently. We will start implementing this VPA2 application as early as 2021.
We announce that we completed the conversion of the physical company shares into electronic. The platform that will enable our shareholders to manage their shares in the custody account independently is currently in the final stage of programming and will go online before the end of July 2020. This brings us a giant step closer to the long-promised listing. The last posting of the shares in Areos-Energie AG will be started after the deposit has been created. Of course, our shareholders are free to choose which form of shares they prefer. Shareholders can also choose to keep their shares in the custody account or transfer them to the bank.