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Investment in a Chilean energy storage plant

Investment made
$16 million investment in energy storage

Last week, we invested $16 million (around 4% of the fund) in a energy storage plant in Chile. In 2022, Hedonova’s assets under management grew significantly from $160 million to $406 million giving us ample cash to make larger investments. This particular investment is part of our equipment finance portfolio. The plant uses CRYObatteries, a new energy storage technology that use electricity to pressurize air until it turns into a liquid. When the stored energy needs to be released, the liquid air is heated, which leads to rapid expansion of air using which a turbine generated electricity.

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