Gore Street Energy Storage Fund PLC (LON:GSF) revealed it has so far invested half of the funds raised at its May fundraising.
Some £30.6mln was brought in earlier this year as it listed on the premium segment of the London stock exchange.
It is London's first listed energy storage fund and said that 50% of the IPO proceeds are invested or committed across four assets - including two fully operational projects with 8 megawatts of installed capacity plus two ‘shovel ready’ project accounting for another 19MW.
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"This has been an exciting time for Gore Street in executing our London listing and successfully raising proceeds to meet the demand for our considerable pipeline.
Deployment of proceeds has been swift with over 50% of funds already invested in four attractive assets.
We are keen to continue this rapid progress, increasing the scale and diversification of the committed proceeds of the Company and its asset base.
We continue to see highly favourable developments within our asset class as demand for energy storage projects continues to grow.
We continue to negotiate with multiple partners for a significant number of projects under exclusivity that we look forward to funding in due course."