Charles Russell Speechlys advises Cogenpower plc on its admission to AIM
16 February 2016
Charles Russell Speechlys was pleased to act for Cogenpower plc (“Cogenpower”) on its admission to AIM which completed on 12 February 2015.
Cogenpower is a low-carbon energy business, using sustainable generation to supply cost effective and cleaner energy to urban communities. Based in Turin, Italy, the Company designs, builds, transforms, owns and operates high efficiency Combined Heating Plants with annexed District Heating (DH) distribution networks, known as CHPDH. The Company’s CHPDH schemes are designed to serve communities of up to 50,000 people. Cogenpower has two operating plants: Anaconda, its flagship operating power plant and Esseti Energia s.r.l. (“Esseti”), which the Company acquired on 1 December 2015. Cogenpower is also a retailer of natural gas and electricity to domestic and commercial customers and a provider of energy services.
The Company has raised £1m and has a market capitalisation of £10m. The new funds are being used to provide additional funding for the development of Esseti and support the growth of the business in Italy and the UK.
Speaking of the transaction, Dr. Francesco Vallone, CEO of Cogenpower plc, commented:
“Our admission to AIM comes 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. The company is very grateful to the Charles Russell Speechlys team for their guidance, hard work and commitment throughout the admission process.”
The Charles Russell Speechlys’ team consisted of Partner Adam Carling, who led the deal, with the support of Associate Jodie Dennis. Adam Carling commented:
"We were delighted to assist Cogenpower with this IPO, its first significant transaction in the UK, and look forward to working with the company in its next phase of growth as a listed company."
For more information please contact Jasmine Dillon, Head of Marketing Communications, on +44 (0)20 7203 5343.