RCS - Infrastrata PLC - Update on EU Grant Reclaim

Harland & Wolff groupAnnouncement

14/04/2020 07:00

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RNS Number : 4181J  Infrastrata PLC  14 April 2020

14 April 2020

 

InfraStrata plc

("InfraStrata" or the "Company")

 

Update on EU Grant Reclaim

 

InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic
infrastructure projects and physical asset life-cycle management, is pleased
to announce that, further to its announcement on 11 March 2020, it has now
received the £1.13 million grant payment from the EU's Innovation and
Networks Executive Agency.

 

For further information, please visit www.infrastrataplc.com
(http://www.infrastrataplc.com/)  or contact:

 

 InfraStrata plc                                         c/o Newgate Communications

 John Wood, Chief Executive                              +44 (0)20 3735 8825

 Cenkos Securities plc (Nominated Adviser & Broker)      +44 (0)20 7397 8900

 Stephen Keys / Cameron MacRitchie (Corporate Finance)

 Michael Johnson (Sales)

 Newgate Communications (PR)                             +44 (0)20 3757 6880

 Elisabeth Cowell/ Ian Silvera/Jamie Williams

 

 

Notes to editors:

 

InfraStrata is a London Stock Exchange-quoted group focused on strategic
infrastructure projects.

 

The Company owns and operates the assets of Harland & Wolff in Belfast,
which boasts two of the largest dry docks in Europe and one of only two docks
licenced for marine waste disposal in the UK. The Harland & Wolff site
generates revenue from the fabrication, repair, conversion, recycling and
support services for ships and assets in the defence, commercial, cruise and
energy sectors. Importantly, Harland & Wolff is one of only three UK
shipbuilders suitable for major MOD contract work and has the only dock
suitable for major cruise vessels in the UK. In addition to the above, the
Company will utilise the 30,000m(2)  of undercover fabrication facilities for
the Islandmagee gas storage project in the future.

 

The Islandmagee gas storage project is expected to provide 25% of the UK's
natural gas storage capacity and to benefit the Northern Irish economy as a
whole when completed. Given that the Committee on Climate Change has advised
that the UK will still need a significant quantity of natural gas by 2050 -
about 70% of today's consumption - the market opportunity for this project is
compelling.

 

Mindful of the fact that safe, secure and flexible sources of energy are
needed for a sustainable future, InfraStrata is focused on providing investors
with exposure to a growing portfolio of UK, European and international energy
infrastructure projects. With this in mind, the Company's highly experienced
team is focused on acquiring, developing and commercialising innovative
infrastructure projects around the world.

 

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