Lloyds Bank led the debt syndicate to back the development of large scale battery storage and flexible generation infrastructure.
"Lloyds’ commitment to Statera, through one of the largest battery storage debt financing deals in the UK to date, is testament to the quality of our projects. Our Thurrock BESS project is strategically located near to Greater London providing further energy system resilience to this key demand centre. We are delighted to have worked with Lloyds, the syndicate of lenders, and Statkraft in achieving this significant milestone."
The funding comes from nine founder banks to support platform scaling and team expansion.
"With Carbonplace, we are transforming the way that carbon credits are bought, distributed, held and retired. I am excited to take this company to the next level of its evolution, and to help unlock its massive potential to drive significant economic and social value by opening the carbon markets up to the world."
The £108m investment was led by backers including NatWest, LC Nueva, and Auluk Investments to fund product development and growth.
"We are thrilled to close this latest round of funding, where our debt and equity partners have demonstrated their belief in Updraft’s team and our mission, particularly in the current macroeconomic environment. It is a testament to what Updraft is trying to do; provide real solutions to customers to help them find their financial freedom. We have big ambitions planned for 2023, and this recent fundraiser puts us in a great position to help even more people."
The investment round was led by NatWest with support from Quilam Capital to fuel the company growth and consumer lending targets.
"Updraft has performed incredibly well in 2021 and we’ve seen a real acceleration in growth in just the past few months. Our customers love the solution we provide and we are determined to help even more people with this new investment."
