Imperative Energy to finance expansion with equity funding

Imperative Energy,  a supplier of large-scale biomass energy solutions, today announced that it has completed a E30m equity funding package with Rockfield Energy LLP, a UK-based private equity firm specialising in renewable energy investments.  The investment will be used to finance the growth plans of Imperative Energy, which said it expects to achieve almost 400MW of installed capacity from biomass across the UK and Ireland over the next five years.

“We are delighted to have closed the deal with Rockfield for the full E30 million funding requirement of our business plan," said Imperative Energy managing director Joe O'Carroll. "This investment now gives us the final core ingredient of major financial backing to allow us successfully develop a large number of projects in the biomass sector. It is particularly important to us that Rockfield, as an equity partner, will also add real value in terms of their deep appreciation of the energy business and proven expertise in large-scale project financing.”

Imperative Energy offers two main products to its customers: an energy supply contract, under which the company funds the installation of on-site large-scale biomass energy solutions and the customer is invoiced monthly based on energy consumed, and a straight-forward system supply and installation. It is currently finalising its planning application for the BioSpark development in Mayo, which was announced in May and is expected to create 180 jobs. Imperative Energy is the exclusive supplier of Schmid biomass boilers in the UK and Ireland.