Gore Street Energy Storage Fund (“Gore Street”), London’s first listed energy storage fund supporting the transition to low carbon power, has successfully raised gross proceeds of £135m under the Company’s existing Placing Programme, with Shore Capital acting as Joint Corporate Broker and Joint Bookrunner. The successful fundraise doubles the market capitalisation of the Company.
The net proceeds will be deployed towards the Company’s significant development pipeline of 1.3GW of attractive accretive opportunities and near-term potential acquisition of a 80MW project expected in the coming weeks. In addition, net proceeds will be deployed in relation to accelerating development of the Company’s existing portfolio, including the Republic of Ireland assets’ expansion from 30MW to 90MW.
For further information please contact:
Shore Capital +44 (0) 20 7408 4090
Corporate Advisory: Anita Ghanekar / Hugo Masefield
Corporate Broking: Henry Willcocks / Fiona Conroy
For Shore Capital media enquiries, please contact:
Adele Gilbert: +44 (0)74 8477 8331
Note to editor
About Shore Capital
We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income. We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM. Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.
Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.
Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.