8 November 2022
Triple Point Energy Transition plc
(the "Company" or, together with its subsidiaries, the "Group")
Investment to fund installation of energy efficient lighting
The Board of Directors of Triple Point Energy Transition plc (ticker: TENT) is pleased to announce that the Group has completed the funding of its first energy efficient lighting opportunity. TENT has provided funding of £1 million to a lighting solutions provider, which has installed efficient lighting and controls at a large retail logistics specialist.
Energy efficient lighting equipment and the optimisation of lighting management through efficient controls are important and relatively straight forward actions to save money and to reduce the carbon footprint of buildings. Companies can enhance their estates and day-to-day operations through improving their lighting which creates the ability to tailor the lighting solution to the right levels of illumination, reduce carbon wastage and save money.
The transaction is structured as a Lighting As A Service ("LAAS") arrangement, with TENT receiving a contractual income from the logistics specialist over a five year period. The logistics company is part of a broader group with an investment grade credit rating.
John Roberts, TENT's Chair, said:
"The installation and operation of tailored, energy efficient lighting equipment is a long-term positive improvement for a business' operations, staff and customers. This investment is the first that TENT has made in the lighting sector, bringing further technological diversification to our portfolio. TENT and the logistics company have identified specific opportunities to work together on further LAAS arrangements over the coming year."
For further information, please contact:
| Triple Point Investment Management LLP Jonathan Hick Ben Beaton
| +44 (0) 20 7201 8989 |
| J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum
| +44 (0) 20 7742 4000 |
| Akur Limited (Financial Adviser) Tom Frost Anthony Richardson Siobhan Sergeant
| +44 (0) 20 7493 3631 |
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website: www.tpenergytransition.com
NOTES:
The Company is an investment trust which aims to have a positive environmental impact by investing in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero.
Since its IPO in October 2020, the Company has made the following investments and commitments:
· Harvest and Glasshouse: provision of £21m of senior debt finance to two established combined heat and power ("CHP") assets, located on the Isle of Wight, supplying heat, electricity and carbon dioxide to the UK's largest tomato grower, APS Salads ("APS") - March 2021
· Spark Steam: provision of £8m of senior debt finance to an established CHP asset in Teesside supplying APS, as well as a further power purchase agreement through a private wire arrangement with another food manufacturer - June 2021
· Hydroelectric Portfolio (1): acquisition of six operational, Feed in Tariff ("FiT") accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 4.1MW, for an aggregate consideration of £26.6m (excluding costs) - November 2021
· Hydroelectric Portfolio (2): acquisition of a further three operational, FiT accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 2.5MW, for an aggregate consideration of £19.6m (excluding costs) - December 2021
· BESS Portfolio: commitment to provide a debt facility of £45.6m to a subsidiary of Virmati Energy Ltd (trading as "Field"), for the purposes of building a portfolio of four geographically diverse Battery Energy Storage System ("BESS") assets in the UK with a total capacity of 110MW - March 2022
· Energy Efficient Lighting: Funding of £1m to a lighting solutions provider to install efficient lighting and controls at a leading logistics company - November 2022
The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional, and public capital, and has a proven track record of investment in Energy Efficiency and decentralised energy projects.
The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 19 October 2020 and was awarded the London Stock Exchange's Green Economy Mark. It was admitted to the premium listing segment of the Official List of the Financial Conduct Authority and migrated to trading on the premium segment of the Main Market on 28 October 2022.
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