ReNu Energy Limited, an Australian company operating in the renewable energy sector, has announced the sale of its Countrywide Hydrogen Business to Countrywide Hydrogen Holdings Pty Ltd, a company controlled by members of ReNu's management team. The sale includes the Tasmanian green hydrogen project and is aimed at repositioning ReNu Energy as a debt-free listed vehicle. This strategic divestment follows feedback from capital raising rounds and changes in ReNu's financial position. The transaction, subject to shareholder approval, is expected to be finalized by March 2025. Through this sale, ReNu Energy anticipates operating cost savings and a strengthened balance sheet by transferring specific liabilities to the buyer, Countrywide Hydrogen Holdings Pty Ltd. ReNu Energy Limited specializes in the development and investment in green hydrogen opportunities, with a focus on the production, storage, and distribution of hydrogen. The company's operations include a significant project in Tasmania, demonstrating its commitment to renewable energy initiatives. The move to sell the Countrywide Hydrogen Business aligns with ReNu Energy's strategy to enhance its financial position and create value for its stakeholders. This decision reflects a positive sentiment towards restructuring and optimizing the company's assets for future growth and sustainability in the renewable energy market.