Gresham House Energy Storage Fund — Launch of a Formal Sale Process

(LSE:GRID) Gresham House Energy Storage Fund has launched a Formal Sale Process to invite offers for the entire issued ordinary share capital, which consists of 569,064,139 ordinary shares. The company continues to execute its Growth Plan alongside the sale process. Net Asset Value (NAV) rose 15.8% in H1 2026. Projects entering construction in 2026 have unlocked a 14p uplift in NAV per share. The company is targeting Final Investment Decision in 2027 for three projects: Ocker Hill (240MW), Lister Drive (57MW), and Rayleigh (480MW). These three projects together will nearly double the megawatt capacity of the 2026 builds. The company expects these projects to deliver further NAV uplifts. The Takeover Panel has granted procedural dispensations for the process. A Q3 2026 NAV update is scheduled for release in H2 November 2026. The Board is managing both the sale process and the ongoing growth strategy in parallel. The formal sale process is open to offers for the entire issued share capital. The company has specifically named the Ocker Hill, Lister Drive, and Rayleigh projects as key assets for future growth. The combined capacity of these projects is 777MW. The company has highlighted that the new projects will nearly double the capacity of the 2026 builds. The NAV per share uplift from 2026 construction projects is quantified as 14p. The company has provided a timeline for the next NAV update and the targeted Final Investment Decision. The announcement confirms that the Takeover Panel is involved and has provided procedural dispensations.

Gresham House Energy Storage Fund — Trading update for HY results to 30 June 2026

(LSE:GRID) Gresham House Energy Storage Fund plc reported a 15.8% increase in NAV per share to 131.30p as of 30 June 2026, up from 113.34p at 31 December 2025, primarily driven by the revaluation of 397MW of projects now under construction. The company acquired or conditionally acquired over 1GW of new capacity in H1 2026, fully funded the first three projects totalling 397MW, and progressed them to construction. Portfolio revenues for H1 2026 were £34.7mn and EBITDA was £23.5mn, up 9.5% and 14.5% respectively from H1 2025. The first three pipeline projects, Cockenzie, Monets Garden and Elland 2, reached financial close in May 2026, with construction underway and target energisation in H2 2027 for Monets Garden and Elland 2 and H1 2028 for Cockenzie. An additional 777MW of new projects were conditionally acquired in May 2026, bringing total new projects to 1,174MW, which will more than double the operational capacity. A strategic JV with Summit Transition Partners (STP) was completed, with STP taking 25% stakes in Cockenzie, Monets Garden and Elland 2, and conditional exclusivity for Lister Drive and Ocker Hill, plus a right of first offer over a 25% stake in the 480MW Rayleigh project. Augmentations at Glassenbury and Stairfoot added 150MWh of operational capacity. The Alternative Revenues trial, launched in December 2025, exceeded expectations and is scaling up to at least 20MW by end 2026. Ofgem provisionally included Ocker Hill for a 25-year cap and floor contract under the UK Government's LDES scheme for a 145MW / 1,160MWh configuration, with final awards expected in Autumn 2026.

Tantalus Systems and Calix to Leverage Fiber Networks for AMI Deployments

(TSX: GRID) (OTCQX: TGMPF) Tantalus Systems announced that it is working with Calix, Inc. (NYSE: CALX) to jointly bring fiber-enabled applications to electric cooperative and municipal utilities. As part of Calix's Partner Program, Tantalus expects to expand its sales channel and addressable market, especially within the electric cooperative segment. More than 200 electric cooperatives across North America are currently in the process of deploying fiber networks. Tantalus' TRUSense Fiber Gateway and TRUConnect AMI platform will be paired with Calix Optical Network Terminal (ONT) technology and the AI-native Calix One platform to enable utilities with fiber investments to deploy next-generation AMI, enhanced broadband, and accelerated grid optimization. BrightRidge, a public power and broadband utility based in Johnson City, Tennessee, is one of the first joint Tantalus and Calix customers. Tantalus has tested the TRUSense Fiber Gateway in conjunction with Calix ONTs to confirm interoperability between the two companies' technologies, and the companies are ready for field deployment of their solutions.

Tantalus Systems Holding Inc. Delivers Record Revenue Results During Second Quarter 2026

(TSX: GRID) (OTCQX: TGMPF) Tantalus Systems announced its financial and operating results for the three-month period ended June 30, 2026, reporting revenue increased by 18% to $15.4 million, a new quarterly record. Annual Recurring Revenue increased by 13% to $15.0 million, and Gross Profit Margin rose by 190 basis points to 54.9%. The company reported a loss for the period of $1.0 million, with a loss per share of $0.02, and Adjusted EBITDA increased by 35% to $690,000. Liquidity more than doubled to $41.3 million, consisting of $29.3 million of cash and $12.0 million in borrowing availability. Cash flow from operating activities reflected a cash outflow of approximately $5.7 million, including $2 million in inventory and $2.7 million related to deferred revenues. The company converted $9.9 million of orders in Q2 2026 and $29.5 million for the first six months of 2026, with a year-to-date book-to-bill ratio of 0.97x. The company projects the majority of the investment in inventory to support deployments in the second half of 2026 and into early 2027.

Tantalus Systems Announces Debt Restructuring

(TSX: GRID) (OTCQX: TGMPF) Tantalus Systems Holding Inc. announced that the Company has entered into an amended credit facility with Fifth Third Bank, N.A. (as successor to Comerica Bank) providing for aggregate commitments of up to $20.0 million. The facility is comprised of a $12.0 million revolving credit facility, a new $3.5 million term loan, and $4.5 million in letters of credit capacity. The revolving credit facility was extended to June 30, 2029, the term loan provides a five-year maturity, and the letters of credit facility matures on June 30, 2027. The amended facility is expected to enhance Tantalus' financial flexibility by supporting working capital requirements and providing continuing access to letters of credit to support commercial bids. The facility will also be utilized in connection with Tantalus repaying its existing term loan with Export Development Canada ("EDC"). The obligations under the amended facility are secured by a first-priority lien on the assets of Tantalus through its applicable subsidiaries. All amounts presented in this news release are in United States dollars ("U.S. dollars"), unless otherwise indicated.

SPAs signed for two pipeline projects

Gresham House Energy Storage Fund plc (LSE: GRID) has announced the signing of two Sale and Purchase Agreements (SPAs) for the conditional acquisitions of two pipeline battery energy storage projects: Ocker Hill (240MW) in the West Midlands and Lister Drive (57MW) in Merseyside, totaling 297MW/594MWh. Ocker Hill is a 240MW/480MWh project in Wednesbury, West Midlands, with planning permission granted and an expected connection date of October 2029, while Lister Drive is a 57MW/114MWh project in Liverpool with an expected connection date of September 2029. The signing of these SPAs brings GRID's total acquired or conditionally acquired new projects to 1,174MW/2,348MWh. The company has negotiated deferred consideration mechanics for payment over a four-year period for six new projects. GRID's right of first refusal on UK and Ireland pipeline projects remains unchanged, while the Gresham House Group will pursue projects outside the UK and Ireland through other mandates. A Capital Markets Day Webinar will be held on 28 May 2026 to discuss these transactions and provide updates on the company's Three-year Plan and growth ambitions.

2026 Capital Markets Webinar

Gresham House Energy Storage Fund plc announced it is hosting a Capital Markets webinar on 28 May 2026 to provide an update on its growth plans and the key role it plays in powering the renewable energy transition. The Company will discuss UK BESS industry market and regulatory developments, progress on its Three-year Plan, and details of its new Growth Plan, including a strategic partnership with Summit Transition Partners for project level equity funding. Modelled outcomes on completion of the Growth Plan include capacity growth to 2,246MW / 4,399MWh, a £141mn modelled EBITDA annual run rate, a base case NAV uplift from the upsized Pipeline in the region of 56p per share, and confirmation of a 10p free cash flow target. The programme of works is described as comprehensive and now fully financed. Further details and assumptions will be discussed in the webinar, with a recording to be made available on the company's website. The announcement emphasizes the Company's commitment to delivering significant value to shareholders and outlines the next phase of its development.

Conclusion of new project financing

Gresham House Energy Storage Fund plc (LSE:GRID), the UK's largest listed fund investing in utility-scale battery energy storage systems, has completed project financing for its first three pipeline projects: Cockenzie, Monet's Garden, and Elland 2. The financing enables construction to commence on 397MW/794MWh of new capacity, with senior debt facilities totaling £141mn from a syndicate of four lenders. Additional facilities include £6mn in Debt Service Reserve Facilities and £8.5mn in short-term VAT facilities. The senior debt covers up to 70% of individual project costs, with a repayment profile of at least 15 years and legal maturity of 10 years, priced at 250bps over SONIA. Construction will now start in full for planned connections in 2027, and the company will remain below its 50% NAV leverage limits. This financing structure is intended as a template for future growth, and further details will be discussed at the Capital Markets Day webinar on 28 May 2026.

Signing of ECAs & Cockenzie acquisition completion

Gresham House Energy Storage Fund plc (LSE:GRID) announced the signing of export credit agency-backed financing for BESS equipment on its first two pipeline projects, Cockenzie and Monet's Garden, totaling 297MW at a 2-hour duration. The company also completed the acquisition of Cockenzie, which is now the largest project in its portfolio. The export credit facility, provided by Banco Santander, S.A., will fund up to 50% of the battery, inverter, and medium voltage transformer equipment for both projects. The financing allows GRID to spread payments over ten years at a fixed interest rate, reducing upfront capital requirements. The next step in the funding process will be the signing of senior debt facilities to cover up to 70% of project costs.

Tantalus Announces New AI-Enabled Data Analytics Solutions to Help Utilities Accelerate Grid Modernization

Tantalus Systems (TSX: GRID) (OTCQX: TGMPF), a technology company dedicated to helping utilities modernize their distribution grids, announced a series of data analytics solutions at its 2026 Tantalus Users Conference. The new offerings include TRUGrid Verify, an AI-enabled analytics application, and enhancements to TRUGrid Reliability and TRUGrid Transformer, all now supported by the TRUGrid Advantage service. These solutions are designed to help utilities accelerate grid modernization, improve data reliability, and address challenges such as aging infrastructure and transformer shortages. The announcement highlights Tantalus's ongoing commitment to delivering data-centric solutions for utilities. This matters to investors as it demonstrates the company's focus on innovation and supporting utility customers with advanced analytics capabilities.

Tantalus Systems Holding Inc. Reports First Quarter 2026 Financial Results

Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) reported its financial and operating results for the three-month period ended March 31, 2026. Revenue increased by approximately 27% year-over-year to $15.1 million, with recurring revenue rising 17% to $3.6 million, representing 24% of total revenue. Gross profit improved by 21% to $7.9 million, and the company delivered Adjusted EBITDA of $750,000, up from $317,000 in the prior year. Tantalus completed a bought deal financing, raising gross proceeds of approximately $17.0 million (CAD$23.0 million), and ended the quarter with available liquidity of approximately $40.4 million. The company also added 3 new utilities, converted $19.6 million in orders, and extended its license agreement with Itron, Inc.

Tantalus Releases Its Fourth Annual Utility of the Future Survey

Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) announced the findings of its fourth annual Utility of the Future Survey, which was fielded in February and March 2026. The survey included responses from 109 public power and electric cooperative professionals across North America, focusing on grid modernization priorities and challenges. Key findings include that 86% of respondents said grid modernization is a high or mid-level priority in 2026, but only 9% feel extremely prepared to modernize their grids. The study also highlights concerns about grid data management and the importance of data interoperability. The full results will be presented at the Tantalus Users Conference from May 12th to 14th in Las Vegas, Nevada.