Olio Group Chairman Makes Strategic Investment Into Pivotree

For Immediate Release

Highlights

  • Pivotree completes Series A investment round, despite a challenging period for capital markets.
  • Dato Ramli Md Nor, Executive Chairman of Olio Group (Malaysia) makes strategic investment.
  • Olio Group associate company, South Seas Offshore, appointed exclusive agent in Malaysia, Indonesia, Singapore, and Brunei Darussalam.

Oil and Gas technology company Pivotree (or the “Company”) is excited to announce Dato Ramli Md Nor, Executive Chairman of Olio Group, has reinforced his commitment to Pivotree’s vision by making a strategic investment in the company. This significant infusion of capital not only solidifies the partnership between Pivotree and Olio Group but also underscores the confidence in Pivotree’s potential, especially in catalysing growth and innovation within the Southeast Asia region.

Olio Group, led by Executive Chairman, Dato Ramli Md Nor, established in 1995, has a strong reputation and long track record delivering sustainable solutions in Drilling & Oilfield Services, Well Services, Process, M&E, Industrial Cleaning, Floating Facilities, Water Production and Treatment Systems. SSO is Olio’s vehicle for agency partnerships and will lead efforts.

Pivotree recently appointed South Seas Offshore, an associate company within the Olio Group as exclusive agent to market and sell Pivotree’s product in Malaysia, Indonesia, Singapore, and Brunei. The Agreement does not provide for a minimum term and will continue in perpetuity.

Pivotree Executive Director, Marcus Christian, commented: “This investment represents a key commercial milestone and significant validation for our business.

We warmly welcome Dato Ramli to our shareholder base as a key strategic investor. His success in building Olio Group into a leading supplier of products and services to the Oil and Gas sector across Southeast Asia provides inspiration and genuine synergies to leverage the growth of our business.

The investment will drive our transition from the R&D phase to commercialisation, as evidenced recently with further customer pre-sales.”

Olio Group Executive Chairman, Dato Ramli Md Nor commented: “Pivotree is a must have technology for early adopters in the oil and gas industry.  Owners and operators can now unlock and monetise previously stranded or marginal assets quickly and for a fraction of the cost.  Pivotree’s ability to harvest the low hanging fruit, really is a game changer.  Upon evaluating the relevant asset databases I see huge potential in our region and beyond.”

About Pivotree Pty Ltd:

Pivotree Pty Ltd is a technology company based in Perth, Western Australia. The company specialises in low-cost, low-risk, agile energy production and carbon storage technologies, with a mission to accelerate the global transition to a sustainable and low-carbon energy system.

For more information about Pivotree Pty Ltd and its innovative technology, please visit www.pivotree.com.au

About South Seas Offshore:

South Seas Offshore Sdn Bhd is an associate company of Olio Group, a 100% Malaysian Services Company with over 25 years of experience in Oil & Gas, and a registered self-operator with Petronas and fully licensed for various SWEC codes applicable to upstream and downstream industries, including drilling, well and oilfield services, and floating solutions.

For more information about South Seas Offshore and Olio Group, please visit https://olio.group/.

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This announcement is authorised for release by Marcus Christian, Executive Director, Pivotree.

For further information please contact:

Marcus Christian, Executive Director

mpchristian@pivotree.com.au

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of Pivotree are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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