LONDON (Alliance News) - InfraStrata PLC said Friday it has appointed CBRE Indirect Investment Services Ltd to provide advise on raising capital from third-party financial partners for the Islandmagee gas storage project in Northern Ireland.
"As the FEED progresses, it is important that we will have access to the major investment that will be necessary to complement the funds available under the UK Guarantee Scheme to ensure that we are able to move into the construction phase of the programme, as seamlessly as possible," Chief Executive Adrian Pocock said.
In April, Infrastrata reported a pretax loss of GBP390,458 for the six months to the end of January, fractionally widened from GBP386,826 reported for the same period a year earlier. The company does not generate any revenue while it works on the project.
Shares in the gas storage firm were trading 2.4% lower at 0.40 pence each on Friday morning.