Investments
Cameron Barney advises Corre Energy B.V on its Initial Public Offering on EuroNext Growth in Dublin
September 2021
Cameron Barney LLP (‘Cameron Barney’) congratulates Corre Energy B.V. (‘Corre Energy’) on the successful listing of its Ordinary Shares on the Euronext Growth market in Dublin and raising €12 million by placing new Ordinary Shares.
The IPO triggers the further commitment of €8.0m in a zero-coupon Convertible Note by Fondo Italiano per l'Efficienza Energetica (‘FIEE’), an EIB-backed Italian Infrastructure Fund – bringing the total capital raised by the Company in this transaction to €20 million.
The proceeds from the IPO, in addition to funding secured earlier in 2021, will support the Company to accelerate the development of its project pipeline of 11 EU-designated PCI projects across the Netherlands, Germany and Denmark.
“We value the detailed transactional knowledge and independent corporate finance advice provided by Cameron Barney across both the public and private capital markets and particularly when working with the diverse interests involved in transactions.”
“We are delighted to have provided corporate finance advice to Corre Energy this year and throughout the listing process. The IPO represents a significant milestone in Corre Energy’s journey and Keith McGrane’s vision to build a world-class European energy storage company. Corre’s project pipeline is of a scale to materially accelerate the energy transition that we need in Europe.”
About Corre Energy
Corre Energy is focused on the development, construction and future operation of grid-scale underground renewable energy storage facilities, as well as the production and sale of green hydrogen.
Corre Energy has exclusive rights to a portfolio of salt caverns for underground energy storage in Europe. Its flagship project in Zuidwending (‘ZW1’), the Netherlands, has attained Project of Common Interest (PCI) status, designated by the European Union. ZW1 is a large-scale renewable electricity storage facility with a generation capacity of 320MW and a daily storage/delivery capacity of approximately 3-4 GWh. The project is being developed in partnership with Infracapital.
Corre Energy has a pipeline of other projects across Europe, the most developed of which is a 320MW facility in Denmark, which will combine underground energy storage with the capability of fully integrated green hydrogen.
About Cameron Barney
Cameron Barney is an independent merchant bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector. Cameron Barney has advised on over 20 transactions in the UK broadband sector. In addition to its advisory work, Cameron Barney is co-manager of Digital Infrastructure Investment Partnership (DIIP) which invests directly in fibre broadband infrastructure in the UK. Cameron Barney is authorised and regulated by the Financial Conduct Authority.
For further information please contact:
Cameron Barney LLP
Charles Cameron +44 7785 292 019
Tom Strickland +44 7557 350 527
