European Green Transition (EGT ) is raising £7.5 million before expenses by the issue of shares at 6p each.
The fundraise also includes the conversion of £1.5 million from bridge facilities.
The transaction follows EGT’s recent announcement of the acquisition of an established EBITDA-profitable onshore wind turbine operating, maintenance, repairing, and remote monitoring business in the UK and Ireland.
At that point the stated intention was to launch a placing to raise approximately £5 million.
However, the company has upscaled its’ fundraise intention due to investor demand to raise gross proceeds of around £7.5 million.
Part of the proceeds will be used to repay short-term bridge facilities of £1.5 million that the company took out at the time of the acquisition, with the remaining £1.5 million of bridging converting to equity at the issue price.
The new money will also go towards strengthening the balance sheet of the enlarged group, supporting the continued development and growth of the new business, including the delivery of the repowering pipeline and projected growth initiatives, and pursuing selective strategic bolt-on acquisitions to support expansion of services across the critical infrastructure sector in the UK, Ireland, and Europe.
Cathal Friel, co-founder and executive chair of European Green Transition, has indicated his intention to participate in the subscription via Raglan Road Capital Limited.
The fundraise is conditional upon resolutions being passed by shareholders at a general meeting, the circular for which will be circulated on or around 13 March 2026.
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This raise is at a discount, but on the other hand demand has been so high that the overall amount has been significantly increased. So it’s good to see this transaction proceeding on an even bigger basis following the announcement last month. It looks like this deal will mark the “end of the beginning” for European Green Transition.