finnCap Group is delighted to have acted as buy-side adviser in the acquisition of a minority stake in Wood Thilsted by private equity firm Inflexion, via an investment made from Enterprise Fund V, Inflexion’s dedicated lower mid-market fund.

Wood Thilsted was founded in 2015 and is a specialised offshore wind energy consultancy deploying highly technical consulting and software capabilities to wind farm developers across the project lifecycle. The firm has designed foundations for some of the world’s largest offshore wind farms.

With operations in all the major wind energy markets of the world, Wood Thilsted provides its services to leading developers in the sector, and this funding from Inflexion will support Wood Thilsted to scale, expand and grow globally.

The founders remain majority owners and committed to continuing to drive the business forward as energy consumption continues its transition towards renewable sources.

Stuart Robinson, Partner, Inflexion, comments: “The team at finnCap Cavendish were instrumental in helping us reach a successful conclusion with our investment in Wood Thilsted, providing invaluable advice and process management throughout the transaction.”

Chris Malcolm, Partner, finnCap Cavendish, comments: “We are delighted to have advised Inflexion on this transaction, that will provide Wood Thilsted with the ability to accelerate its international growth alongside expanding the range of services it can offer to its clients. The global shift towards sustainable energy consumption represents an attractive investment opportunity with strong underlying growth dynamics in excess of 20%.”

finnCap Capital Markets is delighted to have advised on the IPO and admission to AIM (with a market cap of £26m), alongside an equity raise of £9m, of Atome Energy Plc.

Spun out of our client President Energy, Atome is the first green hydrogen and ammonia production company listed on the UK market, with large-scale production planned in Iceland and Paraguay targeting the fast-growing global demand for green products.

Green hydrogen is fundamental in addressing the objective to de-carbonise and to reach net-zero emission targets by 2050, particularly in industries such as heavy goods vehicles, maritime shipping and certain industrial processes where batteries or other forms of alternative power to fossil fuels are not expected to fulfil the required needs.

Christopher Raggett, Co-Head of Corporate Finance, finnCap Capital Markets, comments: “We are very proud to help Atome with its admission to AIM. In doing so we have introduced an innovative and exciting company with impeccable green credentials to the London capital markets. We have also added significant value for the shareholders of longstanding client, President Energy. Increased hydrogen production will be critical to hitting reduced emission targets and we are sure Atome will be at the forefront of this burgeoning economy.”

finnCap Capital Markets is delighted to have advised Savannah Energy Plc on its US$65m equity placing and subsequent acquisitions of both ExxonMobil and Petronas’s oil businesses in Chad and Cameroon for up to US$700m. Both acquisitions individually constitute reverse takeover transactions.

These transactions more than double Savannah’s upstream scale in Africa and will transform Savannah into a significant West and Central African regional oil, gas, and midstream player. 

Christopher Raggett, Co-Head of Corporate Finance, finnCap Capital Markets, comments: “These acquisitions will be transformational for Savannah and we are delighted to have assisted them with their very successful equity fundraise. 2021 was an exciting year for Energy companies and we have supported a number of our clients secure growth capital to execute on their plans for growth. We look forward to even more in the year to come.”
 

finnCap Capital Markets is delighted to have advised energy company Chariot on its $9.5m equity placing, helping fund its ongoing well and gas sales agreement work. 

Proceeds would be used to re-enter the Anchois-1 discovery well.

They would also be used to finalise negotiations of gas sales agreements and financing to “unlock” the final investment decision on Anchois, and progress new ventures on debt-fundable, material producing gas assets focussed in Africa.

And they would fund a feasibility work programme on a large-scale green hydrogen project in Mauritania, and progress the power project pipeline under the firm’s recently-expanded partnership with Total Eren.

finnCap Capital Markets is delighted to advise Gelion PLC on its admission to AIM and £22m Placing. Following this IPO, Gelion, which has developed a revolutionary battery technology for the stationary storage of renewable energy, will begin trading at a market cap of £154.4m.

Founded by Professor Thomas Maschmeyer, one of the world's leading chemists and recipient of the Australian Prime Minister's Prize for Innovation 2020, Gelion was spun out of Sydney University in 2015.

Gelion is the innovator behind a zinc-bromide battery technology, which provides a safe, cost-effective, long-life and recyclable alternative to lithium-ion and lead-acid technologies for storage of renewable energy. These batteries are able to withstand higher temperatures and are tougher and more efficient than their lead acid and lithium ion counterparts, and are easier to recycle.

With applications in agriculture, mining, water management and irrigation the battery is highly adaptable for off-grid use.

The batteries are also scalable, using lead-acid battery manufacturing technology, and the Company expects to develop megawatt-hour capacity for large-scale infrastructure, including for solar and wind farms. The company has signed memoranda of understanding for three projects totalling a capacity of 400 megawatt-hours.

In addition to investing in the growth of its zinc-bromide technology, the Company will use funding to develop its mobile energy division to enhance existing lithium-ion and lithium-sulfur battery technologies used in electric vehicles and the emerging market in electric aviation.

Andrew Grimes, CEO, Gelion, commented: "Gelion's highly successful IPO was thanks in no small part to the efforts of its Nomad and broker finnCap who introduced us to many blue chip funds and supported all aspects of the listing process with the utmost professionalism."

Christopher Raggett, Co-Head of Corporate Finance, finnCap Capital Markets, commented: “We are very proud to bring Gelion to the London capital markets and assist with the next stage of their growth journey. They have a truly outstanding technology which has the potential to be at the forefront of the energy storage requirements of the future. We look forward to working with the team as they commercialise and grow.”

finnCap Capital Markets is delighted to have advised IOG Plc on its oversubscribed £8.5m Placing, enabling allow the UK energy firm to trigger an “attractive extension option” for use of the Noble Hans Deul rig for a “dual-lateral well” in 2022. This will allow for the appraisal of Kelham North and Kelham Central prospects.

finnCap Group is delighted to announce a $23m fundraising for Chariot Oil & Gas Limited (LON:CHAR).
 
Christopher Raggett, Co-Head of Corporate Finance, finnCap Group – “We are delighted to have worked with the management team at Chariot to help them in the next phase of their journey. The appraisal well at Anchois is potentially transformational as is the move into transitional power via the investment in AEMP. We look forward to working together with Chariot as they develop both of these exciting opportunities.”

finnCap Capital Markets is delighted to advised Jersey Oil & Gas on a £15m Placing which aimed to deliver production from the planned n respect of its Greater Buchan Area ("GBA") development project at an industry leading carbon intensity level due to platform electrification.

finnCap have advised Castleton Technology Plc on its landmark acquisition by MRI Software. This deal, for which the vast majority of transactional work was conducted during lockdown, will accelerate development of Castleton’s cloud technologies in serving socialhousing providers.

David Payne, Chairman, Castleton Technology, comments: “I am very grateful for your help on the transaction with MRI. Under the most difficult conditions you managed us through the process with calm good sense and great attention to our shareholders best interests. I know we made a very good choice in having finnCap as our advisors, not just on this transaction, but throughout our journey.”

Jonny Franklin-Adams, Co-Head of Corporate Finance at finnCap Group, comments: “It has been a pleasure advising Castleton through their life as a PLC over the last decade and they are a great example of how a company can use the equity capital markets to execute its growth strategy. They developed a plan to focus on a niche sector and then executed a buy and build strategy to create one of the dominant players within that sector which ultimately culminated in a successful sale for the benefit of all stakeholders.”

finnCap have advised Anglo African Oil & Gas Plc on their £8.25m placing and investor sharing agreement.

finnCap have advised Iofina Plc, specialists in the exploration and production of iodine and manufacturers of other halogen-based derivatives, on a £9m fundraising.

finnCap have advised Independent Oil and Gas plc (AIM: IOG.L), the development and production focused oil and gas company, on their £16.6 million. finnCap also advised on their further raise of up to £2.0 million by Open Offer.

Andrew Hockey, CEO of IOG commented: "I am very pleased that we have raised an additional £2 million through the Open Offer process and would like to thank our shareholders for their continued support.

Our institutional placing, announced 1 April 2019, provides the Company with the necessary funding to drill our Harvey appraisal well as well as progressing and enhancing our Core Project ahead of FID funding from either a farm-out or the capital markets. As part of this fundraise, the Board wanted to provide our existing shareholders the opportunity to purchase shares in the Company at the same price as our new institutional holders and I am happy to see shareholders have taken this opportunity to participate in the process.

Independent Oil & Gas has two key value inflection points in the coming months; firstly delivering the development funding for our Core Project through either an industrial farm-out or a capital markets option and secondly, the drilling of our high-impact Harvey appraisal well. I look forward to providing updates on both of these in due course."