SSE, through its wholly owned SSE Ventures business,
has completed a deal with Scottish Equity Partners (SEP) that
involves SEP's new Environmental Energies Fund (EEF)
acquiring a portfolio of cleantech investments owned by SSE
Ventures. As part of the deal, SSE Ventures has become
a major partner in the new fund.
The new Environmental Energies Fund (EEF) has acquired
nine investments from the SSE Ventures portfolio, all of
which are market leaders from across the clean energy
spectrum. The fund will have substantial fresh capital
available for investment in the portfolio and also has
agreement to add up to five further SSE investments to the
portfolio in future.
SSE's Finance Director, Gregor Alexander, said:
"SEP have a strong track record in helping innovative
companies grow and mature. By moving our cleantech
investments into the Environmental Energies Fund we can
ensure the companies are able to benefit from the track
record and expertise of SEP, draw upon the financial
resources of the new partners and ultimately deliver a better
return on our initial investment.
"We continue to believe that cleantech companies
have an important role to play in developing new technologies
and that is why we continue to be involved as a major partner
in the EEF."
SEP Managing Partner, Calum Paterson said:
"We are excited by the opportunity that this partnership
with SSE brings and pleased to have secured such blue chip
investor backing for the fund. Energy-related
technology investments have always been an area of strong
interest for us and there will be synergies between our
involvement with the new secondary fund and SEP's
standalone primary investment activity."
This information is provided by RNS
The company news service from the London Stock
Exchange
END
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