9 May 2019 07:00
Aggregated Micro Power Holdings plc
("AMP", the "Group" or the "Company")
Funding for Off Balance Sheet Vehicle
Aggregated Micro Power Holdings plc (AIM: AMPH), trading as AMP Clean Energy, the specialist provider of distributed heat, power and renewable fuels, announces it has secured a further round of funding for the financing of its Urban Reserve projects, biomass boiler assets and other clean energy projects through Aggregated Micro Power Infrastructure 2 plc ("AMPIL") in the form of 8% loan notes, listed on the Cayman Island Stock Exchange (the "Notes").
On 8 May 2019 AMPIL completed a successful capital raise of £15.1 million bringing the total Notes in issue to £67 million. These additional funds will enable AMPIL to further diversify and grow its clean energy portfolio and AMP will benefit from generating development fees from its projects pipeline.
Richard Burrell, Chief Executive Officer of AMP, said:
"This fundraise for AMPIL marks another milestone for AMP. The projects division has been performing ahead of expectations and securing further funding for AMP's 2019 development pipeline underpins this progress. AMPIL is now reaching institutional scale which is very positive for future raises."
Note to Editors:
AMPIL is a special purpose vehicle which is wholly owned by The Law Debenture Intermediary Corporation plc as trustee for general charitable purposes. AMPIL issues loan notes to fund a portfolio of renewable energy projects for AMP or other developers. Guy Butler Limited acted as book runner to AMPIL.
Contacts
Aggregated Micro Power Holdings plc 020 7382 7800
Neil Eckert, Executive Chairman
Richard Burrell, CEO
Izzy Deterding, Investor Relations
finnCap Ltd 020 7220 0500
Ed Frisby / Simon Hicks (Corporate Finance)
Andrew Burdis / Richard Chambers (ECM)
Whitman Howard Ltd 020 7659 1234
Mark Murphy (Sales)
Nick Lovering (Corporate)
Guy Butler Limited
Paul Curtis-Hayward
Cor Timmermans / Jamie Macfarlane 020 8828 2200
About Aggregated Micro Power Holdings plc
The 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. Trading as AMP Clean Energy, the Group 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 which aim to balance the transmission grid at times of peak demand.
www.ampcleanenergy.com