25 May 2017 16:06
Aggregated Micro Power Holdings plc
("AMP", "AMP Group" or the "Company")
Funding for Biomass Boiler Portfolio and Grid Balancing Projects
Aggregated Micro Power Holdings plc, (AIM: AMPH), which specialises in the sale of wood fuels and the development of distributed energy projects, announces that it has secured further funding of £29.463m for the financing of its biomass boiler portfolio and future grid balancing projects from Aggregated Micro Power Infrastructure 2 plc ("AMPIL2") in the form of 8% loan notes, listed on the Cayman Islands Stock Exchange. This follows on from the initial fundraise of £10.17 million when AMPIL2 was launched in October 2016.
Richard Burrell, CEO of AMPH, said:
"We are delighted to have secured further capital to support our growing pipeline of projects. Together with the capital raised by the first AMPIL vehicle (£12.4 million), AMPH has over £50 million to continue its development and investment in biomass boilers and biomass CHP of which over half is already deployed. This fundraise marks a coming of age for the AMPIL vehicles as they provide income focussed, institutional and other investors, with direct exposure to a substantial portfolio of biomass boilers and biomass CHP in a growing market for processed heat which is increasingly being demanded by large manufacturers across the UK. AMPIL vehicles are also able to invest in reserve power assets to provide electricity to the grid at times of peak demand."
About Aggregated Micro Power Infrastructure 2 plc ("AMPIL2")
AMPIL2 is a special purpose vehicle which is wholly owned by Law Debenture Intermediary Corporation plc as trustee for general charitable purposes. AMPIL2 can issue listed loan notes on a regular basis to fund renewable energy projects acquired from AMPH and/or other developers. Guy Butler Limited and IDCM acted as joint book runners to AMPIL2.
About Aggregated Micro Power Holdings plc
The AMP Group was established to develop, own and operate renewable energy generating facilities. It specialises in the sale of wood fuels and in the installation of distributed energy projects. AMP's wholly owned subsidiary Forest Fuels sells high quality wood chip and wood pellet to end customers throughout the UK, while its projects division installs biomass boiler and biomass CHP systems for a wide range of applications and customers. AMP is also active in developing projects for stand-by power generation facilities which aim to balance the transmission grid at times of peak demand.
www.ampplc.co.uk
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Contacts
Aggregated Micro Power Holdings plc | 020 7382 7800 |
Neil Eckert, Executive Chairman Richard Burrell, CEO Helene Crook, Investor Relations
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Haggie Partners Peter Rigby / Brian Norris
| 020 7562 4444 |
finnCap Ltd - Nominated Adviser & Broker Ed Frisby/Simon Hicks (Corporate Finance) Stephen Norcross (Corporate Broking) |
020 7220 0500 020 7220 0513
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Guy Butler Limited - AMPIL2 Placing Agent Paul Curtis-Hayward Rupert Harcus
| 020 8828 2200 |