A fund specialising in industrial-scale electricity storage plans to raise up to £263 million for projects that could more than double its value and battery capacity.
Gresham House Energy Storage, a listed company that buys power from the grid when it is cheap and sells it back when it is more expensive, said that it wanted to issue up to 250 million new shares to finance ten additional projects.
The company received a cautious response from investors when it first floated in 2018, but has since enjoyed a surge of interest because of a promising proposed yield and growing demand for green investments. So far it has raised £238 million.
Battery storage helps to make intermittent sources of energy, such as wind and solar energy,
