Following the delisting on April 4, Novera will continue to only trade on London’s Alternative Investment Market (AIM), in which it launched a dual-listing last June.

CEO David Fitzsimmons said the company, which joined the ASX in 2002, believed the move would enhance shareholder value by aligning Novera’s future captial raising activities with its long term European strategy and focus.

“The proposed removal from the ASX reflects the company's increasingly European focus from corporate, operational and ownership perspectives," Fitzsimmons said.

"It is also expected that the majority of Novera's future business will be located in Europe."

He added the Novera board was encouraging all shareholders to transfer holdings to AIM and the company has appointed Australian brokers, Patersons Securities Ltd, to manage these transactions.

Novera said it had last year raised a significant amount of capital from UK investors via share placements, but none from new Australian investors; however, the company said it would continue to maintain a presence and be incorporated in Australia.

In conjunction with joint venture partner Macquarie Bank, Novera owns 137MW of renewable energy assets in Europe across landfill gas, wind, hydro and industrial power.