Mergers & AcquisitionsMedium•5 November 2026•
1 min read
Kelly Ventures and VUL Energy Announce Merger for Argentina Geothermal Platform
Key Facts
1Kelly Ventures and VUL Energy entered into a definitive merger agreement to form an Argentina-focused geothermal energy platform.
2The companies announced a C$10.0 million brokered subscription receipt financing with C$8.6 million in strategic lead orders.
Kelly Ventures and VUL Energy entered into a definitive merger agreement to form an Argentina-focused geothermal energy platform. Newsfile Corp reported that the companies announced a C$10.0 million brokered subscription receipt financing, which includes C$8.6 million in strategic lead orders.
The merger serves as a qualifying transaction for Kelly Ventures to transition from a capital pool company into an operational energy entity with lithium upside. The combined platform intends to focus on developing geothermal energy assets within Argentina.