Augusta & Co is pleased to announce the signing of a €110m investment in EnergyNest, a leading Norwegian technology company, by Infracapital, the infrastructure equity investment arm of M&G Plc. Augusta acted as exclusive financial adviser to EnergyNest.
EnergyNest has developed a highly flexible ThermalBattery™ designed to store energy in the form of heat, thereby helping to decarbonise industrial heat processes. This innovative technology can enable customers throughout the entire energy system to optimise energy consumption and cost.
The new partnership is designed to accelerate the deployment of EnergyNest’s ThermalBattery™, by offering customers funded energy storage solutions.
Charlie Hodges, Managing Director at Augusta & Co, said “We were delighted to advise EnergyNest on this transformational investment from Infracapital. Following power and transport, the industrial heat sector can now achieve the real emissions and efficiency improvements they need to decarbonise. This best-in-class combination of technology, teams and capital is very well positioned to roll out solutions for a variety of large heat users. The funding universe is also growing rapidly and we see high demand across our institutional client base for access to innovative technology companies such as EnergyNest.”