Cogenpower, a low-carbon energy business using sustainable generation to supply cost effective and cleaner energy to urban communities, has announced its flotation on AIM.
The company wants to raise £1 million by listing 5,000,000 shares at 20p each, giving it an anticipated market capitalisation of £10 million.
The company designs, builds, transforms, owns and operates high efficiency combined heating plants with annexed district heating (DH) distribution networks, known as CHPDH which are schemes designed to serve communities of up to 50,000 people.
Cogenpower is also a retailer of natural gas and electricity to domestic and commercial customers and a provider of energy services.
Dr Francesco Vallone, CEO of Cogenpower said the admission to AIM came at an exciting point in the company’s development and marks an important step in Cogenpower’s evolution to becoming a leading low-carbon energy business for urban communities.
“We have a robust and proven business model with recurring and predictable revenues generated by our highly automated systems and efficient CHPDH schemes which supply cost effective and cleaner energy.
“Our innovative technology is scalable, easily built and operated, enabling us to meet the rapidly growing demand for low-carbon community-based energy systems in de-regulated energy markets.”
The Group’s growth strategy is based on transforming existing CHPDH schemes using Cogenpower’s proven technology and expertise, converting conventional urban heating schemes to CHPDH solutions as well as acquiring and transforming existing CHP schemes; and building new green-field CHPDH systems.