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Gore Street Energy Storage Fund PLC - London-based fund investing in energy storage assets - Raises GBP73.6 million through the placing and PrimaryBid offer of 68.8 million shares at a price of 107 pence each.
Proceeds from the share issue will go towards the company's development pipeline of over 1.0 gigawatts of opportunities mostly across North America and Western Europe.
"We are looking forward to allocating the new capital resources against our significant pipeline of attractive international opportunities, including a number currently under exclusivity, as we continue to reinforce our leadership as the category defining company in this space. We remain focused on aggressively capturing the market opportunity in front of us, in particular with expected large growth across Europe and the US. We look forward to updating the market in due course," says Alex O'Cinneide of investment manager Gore Street Capital.
Gore Street Energy Storage now has 345.0 million shares issued overall.
Current stock price: 108.40 pence
Year-to-date change: up 4.2%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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