batteries on the boil as fund attracts investors - energy storage companies
2020-01-05
MERITSUN
117
Investors have invested £ 100 million into a new listed company that aims to use containers containing lithium
Purchase, store and sell ion batteries for electricity.
Gresham House energy storage fund claims that when the surge in demand coincides with periods when the wind does not blow or the sun does not shine, it will achieve a return of 15 cents per year by providing electricity. Its capital-
The financing round was scratched after extending the schedule, lowering the minimum amount it was trying to raise and convincing sellers of the battery assets it was buying to accept stock rather than cash.
It had hoped to raise 0. 2 billion.
The company is the second listed power storage fund in London.
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