Corre Energy has announced that Rune Eng has resigned as interim chairman of the board and non executive director from today.
Mr Eng has been on the board since 2021, but has only been interim chair since June this year.
The long duration energy storage company said Mr Eng has decided to step down from his role to pursue other "personal and professional interests".
In a statement, the company thanked Mr Eng and said the company is working to address the appointment of an interim chair who will be proposed to shareholders "as soon as possible".
"Mr Eng has been instrumental in overseeing the company's initial phase of growth, including the delivery of key commercial milestones and fund-raising activities," Corre Energy said.
"Most recently, this includes the launch of the process led by Rothschild & Co to manage and secure investor interest in the company."
The company added that the investment process led by Rothschild & Co, which was announced earlier this year, is progressing.
It said it expects to provide a further update to shareholders on the status of the investment process in September 2024 in line with its half year results.
"Lastly, the company is engaging with significant shareholders in relation to potential funding of short-term working capital requirements ahead of this strategic investment process and long-term fund raise being concluded," the company said.
"Whilst the company's shareholders have consistently supported the company’s working capital needs there can be no certainty that sufficient working capital will be secured."
