25th Nov 2015 09:32
LONDON (Alliance News) - Aggregated Micro Power Holdings PLC said Wednesday that it has secured a second round of funding to finance its biomass boiler portfolio, raising GBP5.7 million through Aggregated Micro Power Infrastructure Ltd.
Aggregated Micro Power Infrastructure is a special purpose vehicle that is wholly owned by The Law Debenture Intermediary Corp PLC as a trustee for general charitable purposes; it issues listed loan notes on a regular basis to fund a portfolio of renewable energy projects for Aggregated Micro Power Holdings or other developers.
Aggregated Micro Power Holdings raised GBP4.8 million in July. The GBP5.7 million raised Wednesday takes its total loan notes issued to GBP12.4 million, it said.
"Our small scale biomass boiler business is doing well and we have a strong pipeline of installations generating development fees for AMPH. This latest tap issue by AMPIL demonstrates strong institutional demand for these assets and we expect AMPIL to make further tap issues next year," said Chief Executive Officer Richard Burrell in a statement.
Shares in Aggregated Micro Power Holdings were untraded Wednesday morning. It last closed at 77.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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