Smart Metering Systems
Investec acted as Joint Bookrunner on Smart Metering Systems’ £175m equity fundraise
Investec acted as Joint Broker to Smart Metering Systems plc, helping it raise gross proceeds of approximately £175 million by way of a Firm Placing announced on 13 September and completed 1 October 2021.
Net proceeds from the fundraise will be used to part-fund future growth opportunities.
About Smart Metering Systems plc
Smart Metering Systems plc is the fully integrated energy infrastructure company owning and managing meter assets, energy data, grid-scale batteries and other carbon reduction (CaRe) assets. The Group manages and optimises these assets through its in-house technology and data analytical platform "METIS".
Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.
SMS is leading the low carbon, smart energy revolution in the UK and is committed to reducing its own carbon emissions to net zero by 2030. In 2019, SMS was also awarded the London Stock Exchange Green Economy Mark.
SMS plc is headquartered in Glasgow with a national presence across twelve UK locations. SMS shares are quoted on AIM with a market capitalisation of £950 million, as of 4 October 2021.