06 May 2022

i(x) Net Zero PLC

("i(x)" or the "Company")

Directorate change

Further to its announcement released on 3 May 2022, i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment, is pleased to announce the appointment of Dmitri Tsvetkov as its Chief Financial Officer and an Executive Director with effect from 1 July 2022.  

Dmitri will replace Marc Chennault, i(x)'s Chief Financial Officer, who has split his time as CFO of both i(x) and WasteFuel Global, LLC ("WasteFuel"), a sustainable transportation fuels company and one of i(x)'s investee companies, since August 2020. Marc has been appointed as the full time Chief Financial Officer of WasteFuel with effect from 1 July 2022.

Mr. Tsvetkov has more than 27 years of financial, accounting and operational experience, including significant experience of working with energy sector listed companies in London, Africa, Asia and Canada.

Dmitri joins i(x) Net Zero from AIM-listed OPG Power Ventures plc ("OPG"), a power generation company operating in India, where he was Chief Financial Officer and a Board Director of the Company. Dmitri was a member of OPG's ESG committee and was part of the leadership team developing its energy transition strategy and its first standalone ESG report.

Prior to joining OPG, Mr. Tsvetkov was CFO at Advance International Exploration Inc., a private Canadian oil & gas company, Interim Chief Executive Officer and CFO at Mart Resources Inc., a TSX-listed international exploration and production oil and gas company, and Chief Financial Controller of Heritage Oil Plc, a FTSE 250 oil and gas company.  Mr Tsvetkov was an auditor with PricewaterhouseCoopers from 1994 to 2006.

He has a Chartered Accountant (CA) designation from the Canadian Institute of Chartered Accountants, an FCCA designation from the Association of Chartered and Certified Accountants in the UK and Chartered Financial Analyst (CFA) designation from the CFA Institute in the US.

Further information in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies is set out at the end of this announcement.

Nick Hurd, Non-Executive Chairman of the Company, said: "We are delighted to welcome Dmitri to the Board as the Company's Chief Financial Officer with effect from 1 July 2022. Given his experience as a public company CFO, we expect that this will be a seamless transition.

The Board thanks Marc for his valuable contribution to i(x) which has benefitted greatly from his expertise. We look forward to continuing to work closely with Marc in his role as the full time CFO of WasteFuel, which continues to expand rapidly on the back of strong demand for sustainable fuel solutions."

- Ends -

For further information visit https://ixnetzero.com/ or contact:

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provide its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero construction technology.

i(x) Net Zero is a provisional signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.

INFORMATION REQUIRED UNDER SCHEDULE TWO, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

There is no further information to be disclosed in relation to the appointment of Dmitri Tsvetkov pursuant to Schedule Two, paragraph (g) of the AIM Rules.