LONDON – Global law firm Reed Smith has advised Eelpower Limited on its £20 million financing from GCP Asset Backed Income (UK) Limited, a fund vehicle managed by Gravis Management Limited. The investment will enable Eelpower to build out its pipeline of permitted energy storage sites and pursue new development opportunities.

Related Professionals: Leon Stephenson Maccailein Campbell Nicolle Odutoye Caspar Fox Simone Goligorsky

A cross-disciplinary team brought the transaction to a close and comprised Leon Stephenson, Mac Campbell and Nicolle Odutoye on the finance aspects with assistance, from Caspar Fox and Alia Khalil (tax), Simone Goligorsky (ENR) and Josip Stajfer (real estate).

The new investment comes after Eelpower has delivered a series of innovative projects, most recently the UK’s first batteries to be deployed alongside river hydro assets alongside sister company Barn Energy.