1 July 22

Battery-Storage Firm Field Raises £77 Million of New Funding 

Triple Point Energy Efficiency Infrastructure Company plc (TEEC) is delighted to announce it has led Field’s latest equity and debt funding round, alongside, Plural Platform and LocalGlobe.  

“Battery storage is a critical enabler of the transition to net zero, as both generation and demand become more unpredictable, and we are therefore delighted to support Field in our first deal in this sector. We chose to invest in Field not only due to the attractive opportunities in UK energy storage and the strength of its management team, but also Field’s commitment to market-leading sustainable practices, as it drives forward both the procurement and operation of the battery storage assets. We believe TEEC’s debt financing offer to energy storage is unique, provided over an approximate 18-year period and without an upfront requirement to put in place a contractual floor price with an offtaker.” Comments Jonathan Hick, Fund Manager at TEEC.