Climate Change Capital leads investments in solar device maker

Article by Sally Bakewell

Climate Change Capital led a 25 million-pound ($42 million) investment in Enecsys Ltd., boosting sales opportunities for the U.K. maker of devices that convert solar energy into electricity for the public grid. The London-based company that manages funds with $1.5 billion of commitments invested 11 million pounds, Cambridge, England-based Enecsys said in a statement. The balance of 14 million pounds came from existing Enecsys investors.

The transaction, Enecsys's second financing round since it obtained seed funding, is the largest private equity investment in the European renewable-energy technology industry this year, according to Bloomberg New Energy Finance. The money will accelerate Enecsys's growth plans after it started selling products in Europe and North America, the company said.

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Climate Change Capital leads investments in solar device maker