RiverFort’s strategic funding powers Mast Energy Developments Pyebridge growth with £1.14M investment
Mast Energy Developments PLC (MED) is making significant strides at its Pyebridge flexible power generation site. The recent commencement of the second genset overhaul at Pyebridge represents a critical step forward in the site’s performance optimisation, made possible through a carefully structured financial package. This latest phase, backed by a further drawdown of £1.14 million under the February 2024 project financing facility with RiverFort, underscores the importance of targeted investment in unlocking the full potential of MED’s assets.
Our latest injection of capital, which amounts to a gross total of £1,137,190, represents a pivotal element in MED’s ability to fast-track the overhaul of the second genset at Pyebridge. The funding is structured with a VAT component, which, once reclaimed, will reduce the net amount of the advance to approximately £839,658. This approach not only accelerates project timelines but also ensures cost efficiency in the use of funds.
Our role as a strategic funding partner has been instrumental in MED’s ongoing development. The Pyebridge site’s first genset refurbishment, which generated approximately £57,000 in its first month, set the stage for this next phase of investment. With the second genset now undergoing a complete overhaul, our financial backing continues to play a crucial role in scaling up the site’s operational capacity.
RiverFort’s funding has provided MED with the liquidity necessary to execute its refurbishment plans without delay, leading to faster revenue generation. The swift approval and allocation of this third advance have enabled MED to capitalise on favourable market conditions and improve the Pyebridge site’s revenue potential sooner than initially anticipated.
Pieter Krügel, CEO of Mast commented:
"MED's funding partnership with RiverFort has been instrumental in enabling and fast-tracking the work programme at Pyebridge, which has already resulted in increased revenue generation sooner than expected. RiverFort's ongoing support to MED is invaluable and much appreciated.”
Conclusion: A Future Built on Strategic Investment
The latest £1.14 million funding round from RiverFort marks a critical juncture in MED’s expansion at Pyebridge. By breaking down the funding into VAT reclaimable components and net advances, the financial strategy demonstrates both precision and foresight.
The partnership between MED and RiverFort exemplifies how targeted funding can drive growth in the flexible power market. With this solid foundation, MED is well-positioned to continue its upward trajectory, delivering value for both its investors and the broader energy market.
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