Hamburg Commercial Bank finances sustainable energy solutions for Vital Energi in the UK
GERMANY/HAMBURG – Hamburg Commercial Bank AG (HCOB) is providing Vital Energi with £25 million as part of a £150 million financing package provided by a consortium of international banks and institutional investors. The five-year financing is structured as a bond financing and will be used to refinance existing liabilities and complete two Energy-from-Waste-plants in Port Clarence and Drakelow (UK).
Vital Energi is a leading provider of sustainable energy solutions in the UK. The company develops and operates projects for low-carbon energy generation, distribution and energy management.
Hans Lötzer, Head of Project Finance at Hamburg Commercial Bank, said: “We are delighted to support Vital Energi on its growth path. The financing structure is unique in bringing together Vital Energi’s existing development business and new assets into a single financing.”
Ashley Malin, Managing Director at Vital Energi, said: “The financing from HCOB enables us to continue expanding our business and thus driving forward the energy transition in the UK. The bank’s project finance team has a high level of expertise, and we are grateful for their reliable partnership.”
About Hamburg Commercial Bank
Hamburg Commercial Bank AG (HCOB) is a private commercial bank headquartered in Hamburg, Germany, that provides customized financing solutions for German and international companies. HCOB has a strong position in structured real estate and project finance and is a reliable financing partner for the shipping sector. Efficient and secure payment transaction services as well as innovative products for foreign trade complete the range of services. The bank is guided by established ESG criteria and operates from several locations in Germany as well as in Amsterdam, London, Luxembourg and Piraeus. For more information, please visit www.hcob-bank.com.
About Vital Energi
Vital Energi is a leading provider of sustainable energy solutions in the UK. The company develops and operates projects for low-carbon energy generation, distribution and energy management – from heating networks to Energy-from-Waste solutions. It has more than 30 years of industry experience and operates across the UK with seven regional offices. With around 700 employees, Vital Energi supports public and private customers on their path to climate neutrality, relying on innovative technology, comprehensive support and high ESG standards. www.vitalenergi.co.uk
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.