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Aggregated Micro Power brightens as off-balance sheet vehicle raises £15.1mln

The clean energy specialist said the additional funds allow it to diversify and grow its clean energy portfolio and generate development fees from its projects pipeline

Money
The money was raised in the form of 8% loan notes, taking the total at issue to £67mln

Aggregated Micro Power Holdings PLC (LON:AMPH) shares brightened on Thursday after its off balance sheet vehicle, Aggregated Micro Power Infrastructure 2 PLC (AMPIL), raised £15.1mln in the form of 8% loan notes.

The clean energy specialist said the total notes in issue amounted to £67mln, with the additional funds allowing AMPIL to diversify and grow its clean energy portfolio while AMPH would generate development fees from its projects pipeline.

READ: Aggregated Micro Power hit by mild winter

Richard Burrell, AMPH’s chief executive, said the fundraise was “another milestone” for the company and the funding would underpin progress in its projects division, which had been performing “ahead of expectations”.

He added that AMPIL was now reaching “institutional scale” which was “very positive” for future fundraisings.

In mid-morning trading, shares were up 1.4% at 74p.

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Quick facts: Aggregated Micro Power Holdings PLC

Price: 85 GBX

AIM:AMPH
Market: AIM
Market Cap: £53.88 m
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