UK battery storage funding: Pulse Clean Energy, AMP Clean Energy secure combined £270 million in new investments

Pulse Clean Energy, a UK energy storage and grid stability startup founded in 2022, has announced it has secured £220 million (USD 292.2 million) in green financing transaction to fund six new battery energy storage system (BESS) projects totalling more than 700 MWh in capacity.

The sites, though locations were not exactly provided, will be located across “Scotland, Devon, Greater Manchester and Wales.” Four of the projects involve converting former diesel-powered generators. In addition, the funding will also support nine existing BESS sites that are either in operation or in the latter stage of construction.

The debt raise was led by Santander CIB among six international banks, also including NatWest, ABN AMRO, NORD/LB, Investec and CIBC. Legal counsel for Pulse Clean Energy was provided by Eversheds Sutherland, while Watson Farley & Williams advised the lenders, and Chatham Financial served as the hedging advisor. 

Pulse Clean Energy chief financial officer Nicola Johnson said that the new projects will provide significant savings for consumers. 

“This landmark investment reflects strong global confidence in the growing UK battery storage market and in Pulse Clean Energy’s ability to deliver at scale,” Johnson said.

“These six facilities will not only strengthen grid resilience, but also unlock significant cost savings for consumers by allowing more renewable power onto the grid and reducing the need for expensive backup power during peak periods.”

All assets funded under the deal are expected to be operational by late 2027. The company said it will help to provide over 700 MWh of capacity, the six new sites will help UK consumers save “over £200 million in gas and emissions costs” without specifying a timeframe.

AMP scores National Wealth Fund commitment 

Also in the UK, AMP Clean Energy announced it has received a £50 million equity investment from the UK government’s National Wealth Fund (NWF). The funds will be used to provide support for AMP’s Battery Box sites. The compact systems, each rated at 200 kW / 800 kWh and about the size of two car parking spaces, are designed to connect directly to local distribution networks serving high-demand sites such as schools and hospitals. AMP Clean Energy has more than 1,075 Battery Box sites in development across the U.K.

AMP Clean Energy CEO Mark Tarry said he was thrilled to receive funding from NWF.

“We’re delighted to receive this investment from the National Wealth Fund … it will accelerate our ability to build the kind of energy infrastructure the UK needs: practical, low-carbon projects that support both local grid flexibility and industrial decarbonisation. This backing helps us go further and faster, delivering more sites, more value to customers, and more progress towards a cleaner, more resilient energy system.”

NWF CEO John Flint explained that the Battery Box was an important solution for grid flexibility across the country. 

“AMP Clean Energy’s battery box offers an innovative solution to capitalise on local grid connections and support energy storage and grid flexibility in communities across the UK,” Flint said.