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Danish giant Orsted takes stake in green energy financial products group Incubex

Orsted, formerly Dong Energy, is now a major player in the offshore wind business having at one time been Denmark’s state-owned oil and gas company
wind farm
Orsted is an offshore wind farm specialist

Green energy ETF group Incubex has added Danish energy giant Orsted to its shareholder roster.

Formerly known as Dong Energy, Orsted took up a third of a US$5mln fund round by Incubex, which is 29.08%-owned by AIM-listed renewable fuels group Aggregated Micro Power Holdings plc (LON:AMPH).

READ: Aggregated Micro Power Holdings set for boost from Incubex revaluation

Incubex and its partners such as the European Energy Exchange are developing financial products to support the renewable energy industry. The group was founded and is chaired by Neil Eckert, AMPH’s executive chairman.

Orsted is now a major player in the offshore wind business having at one time been Denmark’s state-owned oil and gas company.

The Danish group has committed fully to renewable sources of energy and will stop using coal by 2023.

It is building one of the world’s largest wind farms at Hornsea, off the coast near Grimsby and scheduled to come onstream in 2020.

Søren Scherfig, Orsted’s Head of Markets will join the board of Incubex, 

Scherfig said IncubEx is an innovative frontrunner in the building and aligning of commodity products to meet market demand.

"Our cooperation represents an opportunity for us to accelerate the maturity of these global markets and ultimately the green transition".

Eckert added: "This is a significant development for us.

"Ørsted are trailblazers in the environmental space. Our business is growing quickly and this raise gives us the working capital and balance sheet to pursue our goals."

AMPH share rose 2.5% to 100p. 

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