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Novastar publishes ESG due diligence report on Rechaj e-mobility business

PUBT·07/24/2026 15:11:43
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Novastar publishes ESG due diligence report on Rechaj e-mobility business
  • Novastar published a June 2026 ESG due diligence report on portfolio company Rechaj, a Lagos e-mobility group converting petrol tricycles to electric.
  • The report rated Rechaj Category B for environmental and social risk, citing manageable impacts with standard mitigation measures.
  • Rechaj triggered an investor exclusion linked to LPG use at some swap stations; it committed to reduce LPG exposure to below 20% by year 5.
  • The review flagged weak ESG governance, including no formal ESMS, limited safety training, and gaps in supply-chain human-rights screening.
  • Rechaj reported about 2.78 MW of charging capacity, with 83% solar DC and 17% generator-powered AC, pending reconciliation across sites.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Novastar Ventures Ltd published the original content used to generate this news brief on July 24, 2026, and is solely responsible for the information contained therein.