The LSE-listed flexgen developer is raising fresh capital at 2.6p per share to fund its equity contribution to project-level construction financing.
Quantum Data Energy PLC (LSE:MAST) has launched a £1 million fundraising as it moves closer to securing project-level construction financing for its portfolio of flexible generation (flexgen) power assets, though investors pushed the shares down 30% to 2.82p on the news.
The company is in advanced term sheet negotiations with an established UK-based institutional investor to fund construction of its flexgen projects through to production, with payment schedules linked to output milestones.
QDE said it expects to complete a binding funding agreement in the second quarter of 2026, though it cautioned there is no guarantee the transaction will be finalised.
To fund its required equity contribution to the project-level financing, the company is issuing 38.46 million new shares at 2.6p each, arranged by its sole corporate broker Fortified Securities, with admission expected on 30 April 2026.
The raise is priced at a premium to QDE's previous fundraise in February 2026.
Following admission, QDE will have 261.59 million ordinary shares in issue.
The company's stated near-term goal is to build a portfolio of more than 300 megawatts of flexgen capacity, assets that can rapidly increase or decrease electricity output to balance supply and demand on the grid.
Pieter Krügel, chief executive, said the raise was intended to support "the expeditious completion of an immediate growth opportunity that will make a meaningful contribution to QDE's portfolio of MWs in production."