News blog

Helius Energy

  • BY: Andrew Hore |
  • POSTED: 05/10/2011 |

Biomass energy projects developer Helius Energy is raising £6.55m at 16p a share, which is a premium to the market price.

Helius develops and operates biomass-fuelled renewable energy generation plants and it needs to the cash to finance projects in Avonmouth and Southampton. New and existing shareholders are participating in the placing.

At 13.5p a share, Helius is valued at £12.4m prior to the latest placing.

The cash will help to secure project funding for a 100MW biomass plant in Avonmouth and gain planning consent for a similar sized biomass plant in Southampton. Helius hopes to get a development fee and management fees for construction and operation, as well as retain an equity interest, in the Avonmouth project. Construction could commence in the second quarter of next year.

The £60.5m CoRDe project — a 7.2MW biomass CHP project in Rothes, Scotland – has been financed and should be up and running in the second quarter of 2013.

Helius may need further cash in a year’s time if it has generated cash from fees or received the deferred consideration for the disposal of the Stallingborough biomass project to RWE Innogy in 2008.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds