Harmony Energy Income Trust (HEIT), which constructs and operates battery storage systems in Great Britain, has successfully listed on the London Stock Exchange.
The initial public offering (IPO) has raised £186m to develop large-scale battery energy storage systems (BESS) across the UK with JTC appointed to provide governance, administration and AIFM support.
Speaking about the IPO, Max Slade, Commercial Director for Harmony Energy Advisors Ltd, said: “We are delighted with the successful launch of the Harmony Energy Income Trust, which invests in commercial scale energy storage and renewable energy generation projects, supporting climate mitigation in the UK and facilitating the transition to a #netzero economy. We are very appreciative for the expertise provided by JTC through the listing process and the ongoing support for the trust.”
Jonathan Jennings, Group Head of Institutional Client Services at JTC, added: “Financial services firms have a crucial role to play in supporting sustainability goals and we are proud to have assisted an innovative company like Harmony Energy Income Trust in their listing. JTC recognises its responsibility in embracing environmental, social and governance challenges and enabling our clients in their journeys.”
Simon Gordon, Senior Director – Fund & Corporate Services, said: “JTC has extensive experience in facilitating organisations to list on the London Stock Exchange as well as other global exchanges. We are pleased to have been part of this IPO and look forward to seeing their exciting plans develop.”
James Tracey (pictured), Managing Director – Guernsey, speaking of the AIFM services said: “We are delighted to support Harmony Energy Income Trust with their listing and ongoing administration. Our extensive experience working with listed funds and especially in the Specialist Fund Segment of the LSE is a huge benefit to clients looking to fundraise.”