Launch of Gresham House Energy Storage Fund Plc

RNS Number : 9396G

Gresham House PLC

09 November 2018

 

Gresham House Plc

("Gresham House," "the Group" or "the Company")

Gresham House announces the successful £100m launch of the Gresham House Energy Storage Fund Plc  

Gresham House plc (AIM: GHE) is pleased to announce the successful Gresham House Energy Storage Fund Plc issue ("the Fund").

The Fund will be managed by the New Energy division of Gresham House Asset Management, the specialist renewable and storage asset manager.   

The net proceeds will be used by the Fund to acquire a Seed Portfolio for a consideration of £57.22 million* immediately following Admission and will subsequently be available to invest in an exclusive pipeline of utility-scale Energy Storage Systems (ESS) in Great Britain.

These assets provide services to the National Grid to support grid stability as well as delivering the essential infrastructure required to enable Great Britain's increasing reliance on intermittent sources of renewable energy such as wind and solar.

The Supplementary Prospectus for Gresham House Energy Storage Fund Plc is available on the Company's website: newenergy.greshamhouse.com/esfplc.

Tony Dalwood, Chief Executive Officer of Gresham House, said: "We are pleased to have raised £100m against a backdrop of volatile markets. Gresham House Energy Storage Fund Plc provides our clients with access to a new and innovative, fast-growing sector and is highly complementary to solar and wind investments. We now have a strong platform from which to grow a substantial "institutional scale" fund." 

For further enquiries, please contact:

Gresham House Ben Guest		[phone]
Canaccord     Bobbie Hilliam Michael Reynolds Jefferies Paul Nicholls Max Jones Chris Binks		[phone] [phone]
Montfort Communications Gay Collins / Louis Supple		[e-mail] [phone] / [phone]

* Not taking into account any debt owed, working capital balances or cash held by any of the Seed Project Companies.

About Gresham House  

Gresham House plc is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of highly differentiated alternative investment strategies. Our expertise includes strategic public and private equity (private assets), forestry, renewable energy, housing and infrastructure, The Group aims to deliver sustainable financial returns and is committed to building long-term partnerships with clients, (institutions, family offices, high-net-worth individuals, charities and endowments and private individuals) to help them achieve their financial goals.

Shareholder value creation will be driven by long-term growth in earnings as a result of increasing AUM and returns from invested capital.

www.greshamhouse.com

 

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