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Aggregated Micro Power raises £29mln to expand investment vehicles

Investment vehicle AMPIL2 raised the money through 8% loan notes listed on the Cayman Islands Stock Exchange.

picture of wood being cut
Money will fund AMPH's growing boiler portfolio

Aggregated Micro Power Holdings plc (LON:AMPH) has arranged an additional £29.4mln of funding for its biomass boiler portfolio and grid intervention projects.

Investment vehicle AMPIL2 has raised the money through 8% loan notes listed on the Cayman Islands Stock Exchange. The fund raised £10.17mln initially when it was launched in October 2016. 

Richard Burrell, AMPH’s chief executive, said: “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.

“Together with the capital raised by the first AMPIL vehicle (£12.4mln), AMPH has over £50mln to continue its development and investment in biomass boilers and biomass CHP of which over half is already deployed. 

"AMPIL vehicles are also able to invest in reserve power assets to provide electricity to the grid at times of peak demand."

Quick facts: Aggregated Micro Power Holdings PLC

Price: 92 GBX

AIM:AMPH
Market: AIM
Market Cap: £64.54 m
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