logo-loader
viewWoodford Investment Management

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.

Quick facts: Woodford Investment Management

Price: - -

LSE:WPCT
Market: LSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Plenty more deals in the pipeline for Greencoat UK Wind PLC says manager

There are still plenty of opportunities in the acquisition pipeline for onshore UK wind farm operator Greencoat UK Wind PLC (LON:UKW) according to investment manager Stephen Lilley. The fund had a busy 2019, Lilley told Proactive, with £600mln invested and £200mln committed for new projects...

8 hours, 29 minutes ago

2 min read