Mast Energy Developments PLC has secured a funding agreement with RiverFort Global Capital for an initial facility of up to £4,000,000. This agreement establishes RiverFort as a strategic funding partner for Mast Energy Developments (MED). The funding will support the development and construction of MED's current 30MW asset portfolio and new acquisitions, aiming to expand its portfolio to 300MW in the flexible power market.
Pieter Krügel, MED CEO, commented: "The MED board is delighted to have concluded the new funding agreement with RiverFort and we welcome such a key institutional investor as a strategic funding partner to MED. We believe that this new funding agreement will fast-track MED's growth plans and unlock value for our shareholders."
About Mast Energy Developments Plc: MAST Energy Developments PLC (“MED”) is a public company, incorporated in England and Wales and with its main area of operations in England. MED is listed on the Standard List of the London Stock Exchange and is led by an experienced Board of Directors. MED participates in the lucrative UK reserve power market which typically consists of day-ahead and real-time markets and is aimed at preventing future shortages by balancing out the national grid at critical times and thereby reducing future blackouts events.
