Liquid air energy storage firm goes fundraising

Highview's pre-commercial demonstration plant is due to enter operation this summer. Image credit: Highview Power Storage.

Highview’s pre-commercial demonstration plant is due to enter operation this summer. Image credit: Highview Power Storage.

 

By Jason Deign

Highview Power Storage has launched a growth capital fundraising round amid commissioning for its first pre-commercial liquid air energy storage plant.

The 20-strong UK company is looking for an unspecified amount of cash but will most likely not be talking to venture capital (VC) investors, head of business development Matthew Barnett told Energy Storage Report.

“Rather than going down the VC route, we’re sticking with high-net-worth angel investors and strategic investors,” he said.

The latter group might include businesses that could add value to Highview’s offering, such as an engineering capability, a route to market or complementary technology, said Barnett.

“If a VC came up with GBP£15m then that’s a different story, but there’s a time and a place for a VC to be involved,” he continued. “Maybe we’re entering that now, maybe we’re not.
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