Ethanol Investments plc (EI), an AIM-listed company with investments in the ethanol services market, is to make a series of acquisitions that will see changes to the corporate structure and identity of the company.

Ethanol Investments plc (EI), an AIM-listed company with investments in the ethanol services market, is to make a series of acquisitions that will see changes to the corporate structure and identity of the company.

EI looks set to acquire a portfolio of minority stakes in a number of pre-IPO and small-cap public companies within the renewable energy and cleantech sectors. This will enable EI to create a new shareholder group focusing on the European renewable and cleantech sectors.

The move is expected to kick-start a corporate reshuffle that will see the board appointment of a new chairman and several new non-executive directors. A new advisory board will also be established to provide deal origination and consultancy services.

In terms of finances, the business has signalled it is to undertake a capital reorganisation, involving the consolidation of its share capital on the basis of one new share at 1.25p for every existing 500 shares of 0.0025p each. It is also set to issue new shares of 1.25p each at 105p per share in order to raise working capital of £420,000.

Finally, the company is to change its name from Ethanol Investments to Evergreen securities plc.

EI chief executive Peter Greensmith says the new board intends to make further selective investments in the near future, initially focusing on assets or companies in the public or pre-IPO arena, where it feels it can add value and realise that value in the short to medium term.

The company was established in July 2003, trading under company name Nighttrek plc. One month on, the business was renamed Walnut Partners plc. A further name change ensued in 2004 (to Enition plc) and 2006 (to Ethanol Investments plc).