Eelpower Ltd, the energy storage company, has appointed Steve Gregory as its Chief Financial Officer. Steve’s appointment follows the recent news (April 12th 2018) that Gravis Capital Management had agreed to provide £20m of debt funding to Eelpower to develop the company’s pipeline of permitted storage sites and enable it to pursue new storage development opportunities in the UK. Eelpower currently has 38MW of storage in construction and exclusive rights to a further 136MW of storage capacity.
Steve Gregory has extensive experience of the UK renewable energy industry, working with companies involved in landfill gas, onshore wind, Energy from Waste and anaerobic digestion. He has held senior financial roles within the renewable energy sector working with Infinis, Biogen and the Carbon Trust. In addition, Steve brings international experience, having worked in the advanced power electronics sector in China, India and Africa – providing reactive power solutions to generators and grid stabilisation. He has also worked in the EPC and construction sector.
Mark Simon, Chief Executive of Eelpower Ltd: “Steve brings a wealth of experience to Eelpower and will play an important role in the growth of the business. With the Gravis Capital funding in place, we are seeking to raise a further £100m over the next 12 months from both equity and debt providers. This will enable us to deploy 200MW of storage by the end of 2019, possibly sooner.”
“It is now clear that the national and local grid is not operable without significant flexible power, a major component of which will come from high speed, grid-scale, batteries.”
“Steve’s appointment is part of a broader effort to strengthen our management team and secure the additional investment that is required by the company as we build out, own and operate a network of large grid-connected storage assets in the UK.”