Gresham House Energy Storage Fund has raised GBP 49.7 million (US$ 62.06 million) gross via a share placing in order to acquire more energy storage systems. Gresham House ESF owns a portfolio of five utility-scale energy storage systems in the UK and will use the money from the share placing to commit to acquiring more, with all net proceeds to be deployed by the first quarter of 2020.

Shares in Gresham House ESF were up 0.5% at 103.50 pence on the morning of May 28, 2019. The placing 49.2 million shares were priced at 101.0 pence per share, a discount of 2.5% to this market price. Once the 49.2 million placing shares are admitted to trading, Gresham House ESF will have 149.2 million shares in issue.