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Highview Power Closes Growth Capital Funding Round with $70 Million

Feb 09, 2021•almost 5 years ago

Amount Raised

$70 Million

LondonRenewable EnergyEnergy

Description

Highview Power, a global leader in long duration energy storage solutions, is pleased to announce that it has closed its Growth Capital round of funding with over $70 million, bringing the total amount of funding and grants the company has secured to date to over $145 million. The Growth Capital round includes the previously announced $46 million investment from Sumitomo Heavy Industries (SHI) and additional investments from strategic investors Janus Continental Group (JCG) and TSK, along with a $5.5 million contribution from the original and founding investors.

Company Information

Company

Highview

Location

London, England, United Kingdom

About

Highview is a solutions-led energy infrastructure business. It has developed its LAES technology in the UK over the last 17 years to store renewable energy for up to several weeks and provide stability services to the National Grid. The company leverages a proprietary analytics platform to forecast future energy needs, orchestrates strategic capital to develop solutions and curates its technology to design, build and operate the assets to meet those requirements. The stability island and LAES/BESS facility at Hunterston will be the forerunner of Highview’s Millennium Series. It will deliver enough clean electricity to power around 650,000 homes for up to 12.5 hours, optimising Scotland’s plentiful offshore wind resources and in the process, release grid bottlenecks that currently curb renewable generation.

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