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Funding for Off Balance Sheet Vehicle

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RNS Number : 4412Y
Aggregated Micro Power Holdings PLC
09 May 2019
 

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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Aggregated Micro Power Holdings PLC

Price: 85

Market: AIM
Market Cap: £53.88 m
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