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Woodford Patient Capital rallies as cold fusion play heats up

Industrial Heat is now worth US$112.9mln, or a 357% rise compared to its previous valuation

Nuclear
Industrial Heat specialises in low energy nuclear reactors

Woodford Patient Capital Trust PLC (LON:WPCT) has received a major boost from the performance of Industrial Heat, one of its unlisted investments.

Carolina-based Industrial Heat specialises in technologies neglected or dismissed by science such as cold fusion and low energy nuclear reactors.

READ: Neil Woodford’s star slightly tarnished after Woodford Patient Capital Trust relegated from FTSE 250

Woodford says it funded Industrial Heat 'to engage credible world-leading institutions rigorously to assess the claims of research groups in the field'. 

Growing interest in the business has enabled it to raise money from other investors prompting a substantial increase in its value.

Industrial Heat is now worth US$112.9mln according to Woodford's alternative fund manager Link, or a 357% rise compared to its previous valuation.

That translates into an 8.02p uplift in the net asset value of Woodford Patient Capital Trust.

Just a day earlier, the trust published a NAV figure of 91.94p but this new value for Industrial Heat will increase that number by 9.4%.

Woodford Patient Capital raised £800mln when it was launched in 2015 with huge interest from the public.

It has been a bumpy ride since then with a string of high-profile disappointments that eventually saw the share price drop as low as 72p.

There has been a rally recently and today’s announcement on Industrial Heat saw the price bounce 7.3% to 87.8p.

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