LONDON, Feb. 29, 2024 /PRNewswire/ -- Mast Energy Developments PLC share price soars 35% after securing a funding agreement with RiverFort Global Opportunities PCC Limited (an institutional investor regulated in Gibraltar) ("RiverFort") a new project finance facility with its Pyebridge subsidiary of up to £4,000,000. This agreement establishes RiverFort as a strategic funding partner for Pyebridge Power Limited, a subsidiary of Mast Energy Developments ("MED"), as well as future funding into MED's expanding asset portfolio. The initial £450,000 funding will support the development and construction of MED's current 30MW asset portfolio, with the additional funding capacity being ring-fenced for new acquisitions, aiming to expand its portfolio to 300MW in the flexible power market. The funding was arranged by RiverFort Global Capital Ltd having been brokered by Fortified Securities.
Pieter Krügel, MED CEO, commented: "The MED board is delighted to have concluded the new funding agreement with RiverFort and we welcome such a key institutional investor as a strategic funding partner to MED. We believe that this new funding agreement will fast-track MED's growth plans and unlock value for our shareholders.
About RiverFort Global Capital Ltd: RiverFort Global Capital, is a London-based FCA regulated intermediary that arranges transactions by a number of investors. It specialises in providing debt venture capital investments into the groups of listed companies that it considers to be high growth opportunities through.
RiverFort Global Opportunities PCC Ltd is a Gibraltar based regulated institutional investment fund which manages funds from HNWI, family offices, and other UK-based institutions.
About Mast Energy Developments Plc: MAST Energy Developments ("MED") is a public company, incorporated in England and Wales and with its main area of operations in England. MED is listed on the Standard List of the London Stock Exchange and is led by an experienced Board of Directors. MED participates in the lucrative UK reserve power market which typically consists of day-ahead and real-time markets and is aimed at preventing future shortages by balancing out the national grid at critical times and thereby reducing future blackouts events.
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