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.
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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