Longspur Capital

💡 Did you know, less than 1/5th of UK households have adopted LED lighting? And 77% of the UK office stock is expected to be unlettable by 2030 due to insufficient EPC ratings? We recently initiated research coverage on Luceco Group – a leader in electrical infrastructure and LED lighting in the UK. Electrification of the home, workplace, and broader infrastructure is a secular growth trend that we think will underpin Luceco's growth in the long-term. With RMI now expected to tick up in 2025 as inflation and interest rates moderate, we expect spending to improve translating into increased earnings growth. We think earnings are likely to be supplemented by self-funded acquisitions, keeping with the company's impressive history of accretive M&A, driving further upgrades.   Longspur Capital Research is available to all professional investors. We have an extensive track record covering large and small companies on the main UK list, on AIM, NASDAQ, ASX and on a number of European exchanges. If you'd like to know more, please feel free to reach out to Adam Robertson, CFA (ECM), Max Campbell (Research), or Adam Forsyth (Research). #energytransition #energyefficiency #LEDtherebelight

🔌 Did you know it can take more than a decade to get a renewable energy project connected to the grid? And that the cost of a grid connection typically exceeds £100,000 per megawatt (MW)? This morning we updated our investment thesis on SIMEC Atlantis Energy who have almost 1GW (1000MW) in grid connections across the UK. Following the sale of a project to Quinbrook, SIMEC Atlantis has emerged from a period of cash uncertainty. It now sits well funded with considerable embedded value in its existing grid connections and future development opportunities which we don't see reflected in today's share price. The purpose of today's 22-page deep dive is to identify and explain the value hidden within the company, its existing grid connections, and the potential for value creation in future as it looks to develop its own energy storage projects ideally positioned to benefit from an electricity market that is becoming structural more volatile. Longspur Capital Research is available to all professional investors. We have an extensive track record covering large and small companies on the main UK list, on AIM, NASDAQ, ASX and on a number of European exchanges.    Get in touch with our team Adam Forsyth (Research), Max Campbell (Research), or Adam Robertson, CFA (ECM) to learn more.   #energytransition #batterystorage #BESS

Great to read Adam Forsyth's insight and expertise on the SAE ‘renaissance’. The major opportunity we have in energy storage is key to that renaissance and we are focused on ensuring continued delivery. Longspur Capital Graham Reid Simon Hirst David Taaffe Sean Parsons Alex Free https://lnkd.in/ettSEB2E

💡 This morning we initiate research coverage on Luceco Group. As a manufacturer and distributor of electrical accessories and LED lighting products, Luceco is positioned to benefit the transition to net zero. We see this as a growth engine for the company moving forwards which should translate into faster earnings growth, reduced cyclicality and a higher rating than currently appreciated by the market. Management is actively pursuing M&A opportunities and has a successful track record of undertaking accretive acquisitions. We see this continuing, with additional acquisitions presenting upside to our base case scenario and as potential catalysts for the shares. Longspur Capital Research is available to all professional investors. We have an extensive track record covering large and small companies on the main UK list, on AIM, NASDAQ, ASX and on a number of European exchanges. Get in touch with our team Adam Forsyth, Max Campbell, or Adam Robertson, CFA to learn more. #energytransition #energyefficiency #lighting

Our latest sector research explores the booming biogas sector. It aims to explain why investment increased significantly and uncover where opportunities exist for investors interested in this space. Our analysis suggests that 2024 is expected to see continued high investment, driven by: 1.      material improvements in supportive policies around the world 2.      ambitious production targets to unlock biogas and its derivatives’ decarbonisation value If you have are interested in understanding the intricacies driving growth in the biogas sector, get in touch with Adam Forsyth (Head of Research), Max Campbell (Research Analyst) or Adam Robertson, CFA (Head of Distribution). #biogas #biomethane #ukenergy #energytransition 

Our latest sector research explores the booming biogas sector. It aims to explain why investment increased significantly and uncover where opportunities exist for investors interested in this space. Our analysis suggests that 2024 is expected to see continued high investment, driven by: 1.      material improvements in supportive policies around the world 2.      ambitious production targets to unlock biogas and its derivatives’ decarbonisation value If you have are interested in understanding the intricacies driving growth in the biogas sector, get in touch with Adam Forsyth (Head of Research), Max Campbell (Research Analyst) or Adam Robertson, CFA (Head of Distribution). #biogas #biomethane #ukenergy #energytransition 

🎯 We've just published our latest in a series of research reports on the UK Government's Review of Electricity Market Arrangements (REMA). This time we're "Zoning in on Zonal Pricing". ⚡ Zonal Pricing aims to change the way electricity is priced across the UK in a way that will incentivise new sources of generation to be built near where energy is in highest demand. This should reduce the cost of services like System Balancing which added over £2.8bn to consumer energy bills last year. We cover lots of topics in this report: ✅ What is Zonal Pricing? ✅ Why is it being considered? ✅ When might it be implemented? ✅ How might it impact wholesale and regional energy prices? ✅ Who are the winners and losers from a shift to Zonal Pricing? If you have interest or exposure to the UK energy market, and want to get up the curve on the potential impacts of Zonal Pricing, please do get in touch with Adam Forsyth (Head of Research) or Adam Robertson, CFA (Head of Distribution). Alternatively you can email us on [email protected]. #rema #zonalpricing #ukenergy #energytransition

🍺 💡 What does Beer have to do with Energy System Flexibility?   This morning Longspur Capital published a 40-page deep dive report on the UK’s Energy System Flexibility from the viewpoint of Drax Group. At its most basic, flexibility is the ability to choose when power is generated and dispatched. As the UK, and most other national grids, transition to net zero they are more reliant on intermittent sources of energy. So they are long renewables but fundamentally short flexibility. This creates huge risks to the stability and reliability of a grid. Drax has a portfolio of assets across uniquely placed to provide the solution. It is likely the financial market’s near-term focus on the sustainability of Drax’ biomass assets is clouding value elsewhere. Specifically the critical role the company plays in the stability of the UK’s future energy system at a time when its sorely needed. More events such as the governments recent REMA report (which placed huge emphasis on the need for flexibility) and the recent government biomass consultation paper (which ruled out mothballing Drax’ biomass assets due to their critical importance) will shift the market’s perception of Drax and its long-term earnings potential. While this research note acts as an extensive teach-in on the flexibility market, our findings drive wholesale changes to our forecasts for Drax resulting in outer year earnings upgrades and an increase in our central case valuation. As for the opening comment about Beer – you’ll have to read on to find out. If you would like a copy of the report and to discuss it please reach out to Adam Forsyth (Head of Research), Adam Robertson, CFA (Distribution), Max Campbell (Research), or Cameron Robertson (Research) or email [email protected]. #energytransition #investmentresearch #flexibility #nationalgrid

Congratulations to eEnergy on raising a £40m debt facility with NatWest. This innovative financing package will allow eEnergy to construct and install Rooftop Solar, EV Charging, Lighting, Smart Metering and other energy efficiency technologies for schools and a range of public sector customers across the UK. Longspur Capital is pleased to have acted as sole Financial Advisor to eEnergy on this transaction, creating an innovative and scalable financing solution for hundreds of public sector clients to further enable the energy transition. Pleasure working with Crispin Goldsmith, Harvey Sinclair, Kate Austen and Mark Sherrard from the eEnergy team and many thanks to the Longspur deal team Bas Verloop, Theo Wilson, Mark Byrne and Ana Quintanilha. We would also like to thank the deal team from NatWest Specialist Asset Finance Catherine Walker, George Saunders, Georgina Mylona as well as the legal advisors for the transaction Fieldfisher Anna Crosby and Stephenson Harwood LLP Bertie Chilton and Jonathan Cribbs. https://lnkd.in/eNJE4jk3

Longspur is delighted to have advised longstanding client Logan Energy Limited on their Series A financing announced this week. Logan is one of the leaders in the delivery of hydrogen energy systems and is an integral part of the development of the hydrogen economy in the UK and further afield. #hydrogen #hydrogeneconomy #seriesa #seriesafunding #capitalraising #cleanenergytransition #cleantechnology #cleanenergy Longspur is a leading specialist clean energy financial services firm offering corporate finance, investment & asset management, and investment research for our clients across the clean energy space. Longspur’s advisory and capital-raising business provides access to public and private investors throughout the sector to enable both corporate- and project-level investment. Our team brings a unique combination of experience and relationships across the clean energy sector, providing our clients with an unrivalled level of specialist knowledge and capability.