TENT Triple Point Energy Transition Plc

TIDMTENT

RNS Number : 0326B

Triple Point Energy Transition PLC

28 September 2022

28 September 2022

Triple Point Energy Transition plc

(the "Company" or together with its subsidiaries, the "Group")

PURCHASE OF ORDINARY SHARES UNDER THE INVESTMENT MANAGEMENT AGREEMENT

The Company announces that, in accordance with the terms of the Investment Management Agreement with Triple Point Investment Management LLP ("Triple Point" or the "Investment Manager"), pursuant to which the Investment Manager shall procure that 20 per cent. of the investment management fee shall be applied by subscribing for or acquiring Ordinary Shares in the capital of the Company ("Management Shares"), the Investment Manager purchased 41,550 ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares") at an average price of 80.86 p ence per share on 27 September 2022 . This purchase of Management Shares was made by Perihelion One Limited ("Perihelion"), a company in the Triple Point Group.

The Investment Manager now holds a total of 714,512 Ordinary Shares in the Company, representing approximately 0.71% of the total issued share capital.

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 
   (Corporate Finance) 
   James Bouverat / Liam MacDonald-Raggett 
   (Sales)                                         +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: http://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 GBP21m 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 GBP8m of senior debt finance to an established CHP asset in Teeside 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 GBP26.6m (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 GBP19.6m (excluding costs) - December 2021

-- BESS Portfolio : commitment to a debt facility of GBP45.6m 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: Commitment to fund GBP1m to a lighting solutions provider to install efficient lighting and controls at a leading logistics company - June 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.

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.

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END

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