Government must re-energise local markets , it needs to offer incentives to local investors to unleash local capital , which will encourage foreign investors to invest in South Africa and reduce risk exposure to foreign investors . Otherwise , local capital will continue to flow to foreign markets , which makes firms such as ours to have incentives to co-invest with local partners .
Co-investment goes beyond just capital , co-investing with local partners allows for the creation of an intellectual highway of ideas , and unlocks more opportunities , all of which fosters cooperation and helps local economies grow exponentially .”
Sassoon added , “ We are in the process of negotiations to secure bulk offtakes for Bluedrop from LPG Suppliers in the US to complement and fulfil critical aspects of Bluedrop ' s value chain and strategy . The US is a major producer of LPG therefore in J . Sassoon , Bluedrop has the right partners to help them source product from a market spoilt with abundance of this critical energy source .” investment community . It will surely expand our investor base . It is a value accretive step in the growth of Bluedrop as a relatively new entrant in the energy markets and it fits in perfectly with our acquisitive growth strategy .
We have a very good launch project , and it gives us leverage to build an impressive asset base within this high growth market of LPG in South Africa and the SADC region . We are also humbled by the outpouring of support from the South African government and various sector entities . It gives us great confidence in our business to know that our government and our partners share our vision of LPG being at the critical nerve-centre of the country ' s energy future .”
Mr Bruce Fein , J . Sassoon Group CEO , highlighted that , “ Bluedrop is a Cinderella story that is still in the making for South Africa ' s markets . We remain committed to our agreement with Bluedrop and its success . This is the time for South Africa to shine and grow .”
Co-investment goes beyond just capital , co-investing with local partners allows for the creation of an intellectual highway of ideas .
J . Sassoon expects to help raise up to USD100-million ( R1,4-billion ) in private placement funding for Bluedrop ' s second round of funding for its pre-IPO campaign , before its shares float on the NYSE . J . Sassoon Group is advising Bluedrop on its planned initial public offering in collaboration and consultation with its US-based industry partners and a local broker dealer firm in South Africa .
Bluedrop ' s CEO , Mr Kenneth Maduna remarked , " The listing on the stock market will elevate our profile within the energy sector and
About Bluedrop Energy
Bluedrop Energy is a 100 % black owned South African company manufacturing and servicing LPG Composite Cylinders . The company is also a wholesale supplier and distributor of LPG in South Africa and the entire SADC region . Bluedrop ' s Composite LPG Cylinders are a modernized superior alternative to the containment of LPG . They are made of polymeric and composite materials which makes them safer , non-explosive , non-corrosive , lighter , saving up to 40 % of the weight as opposed to the traditional steel cylinder . They are environmentally friendly because they are recyclable . Bluedrop Energy is a proponent of a cleaner energy future for South Africa and the world at large . Bluedrop will be the first African company to manufacture composite LPG cylinders .
J . Sassoon Group ( formerly known as Sassoon & Co .) is a financial advisory and private equity firm that engages in investment banking , asset management and other financial services , primarily managing the assets of the Sassoon Family Continuation Trust . It is the world ' s oldest independent investment firm , with principal executive offices in Washington DC . •
32 • African Mining • September 2021 www . africanmining . co . za