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Sumitomo Heavy Industries participates in £300 million investment into Highview Power

June 2024

Client(s) Sumitomo (S.H.I.) Construction Machinery Co., Ltd.

Jones Day advised SHI, Ltd. (SHI) in connection with its follow-on investment into Highview Power, a global leader in long-duration liquid air energy storage (LAES) plants. The £300 million debt and equity funding round was led by the UK Infrastructure Bank (UKIB) and Centrica alongside an equity syndicate of existing and new investors. The investment will enable construction of one of the world’s largest LAES plants in Carrington, Manchester. Highview Power has plans for four larger scale 2.5 GWh facilities, with a total anticipated investment of £3 billion in the UK.

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