Newell LLC (Nexwell), an Investment Holding Company specialized in owning and growing companies in the decarbonization space, announces the acquisition of approximately 8% of Cox Energy, S.A.B. de C.V (Cox Energy), a subsidiary of the Cox Group, thereby becoming the largest minority shareholder in the company.  

Cox Energy boasts a global energy platform of assets producing €75 million of EBITDA in 2023 across the value chain of development and operation of energy generation assets, including the full spectrum of direct-to-consumer solutions for self-consumption, distributed generation, and energy trading.  The company had a net ownership of 189 MW of operating plants spanning Africa, and South America, and a pipeline of future renewable projects totaling over 3.6 GW under development as of June 30, 2024. 

The acquisition of this strategic position within the Cox Group's listed energy division is bolstered by Cox’s “Energy Follows Water” strategy. This approach emphasizes selective development in captive markets while implementing an asset rotation strategy in more mature markets.

According to Pablo Pulido, Co-Founder and Managing Partner of Nexwell: “We have a long history working with this company’s leadership and are honored to have a seat at a table to help shape the future of one of the most urgent scalable decarbonization strategies of “clean” energy following water, making this world more sustainable for the generations that follow us.” 

According to Enrique Riquelme, Executive Chairman of the Cox Group: "This operation marks an important milestone in the fulfillment of our strategic plan, bringing key talent needed to secure scale investments in Energy generation. This alliance provides us with essential tools to selectively strengthen our generation division insight and experience in many of our growing markets. I am grateful to have reached this agreement with Nexwell and look forward to working together for many years to come."

About Nexwell

Nexwell is an investment platform committed to decarbonization. Founded in 2019 by industry veterans, Nexwell partners and invests in high-potential companies to accelerate their growth and impact. With extensive operating experience and connections, Nexwell provides capital, strategic guidance, and access to a global network. For more information, visit www.nexwell.com.

About Cox Group

Cox Group is a vertically integrated utility of Water and Energy focused on the growing sectors of water and energy infrastructure, resulting from the integration of Cox Energy and the productive units of the Spanish industrial Abengoa Group. The Company has an integrated business model encompassing the entire water and energy value chains complemented by other technologies enabling the clean energy transition. For more information, visit www.coxabengoa.com.

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