UK energy storage developer Eelpower has secured £20m in debt funding from Gravis Capital Management to help finance the former’s project pipeline.
The agreement is with GCP Asset Backed Income Fund, an investment company advised by Gravis.
Eelpower chief executive Mark Simon said: “The Gravis investment in Eelpower’s battery storage business underlines the scale and investment strength of our current portfolio, and the growth potential of Eelpower and indeed the battery storage market in the UK.”
Gravis’ Philip Kent said: “We are delighted to have completed the financing arrangement with Eelpower to enable the company to continue to develop its pipeline.”
Image: Eelpower
Eelpower swells storage coffers
By EBS