Ampeak Energy secures investment in AW1 project
Summary by AI BETAClose X
01 September 2026
AMPEAK ENERGY LIMITED
("Ampeak Energy" or the "Company")
Ampeak Energy secures investment in AW1 battery project
Ampeak Energy is pleased to announce that JBR Energy Holdings Ltd ("JB Energy"), a special purpose vehicle owned by various Directors of Jones Bros. Ruthin (Civil Engineering) Co. Limited ("Jones Bros"), our AW1 Battery Storage ("AW1") project construction partner, has made a strategic investment in the AW1 project at the Company's Uskmouth Sustainable Energy Park.
JB Energy has acquired a 24.7% equity stake in AW1 Storage Holdings Ltd ("ASH") from Ampeak Energy for £7.8m. The consideration comprises £3.9m for the acquisition of equity in the project's holding company and £3.9m for the purchase by JB Energy of a shareholder loan to AW1 Energy Storage Limited. Ampeak Energy remains the majority owner of the AW1 project holding company, ASH, with a 50.6% shareholding. One of the Directors of JB Energy is Huw Jones MBE, who is also the owner of Jones Bros.
This is a significant investment for the AW1 project, and the funds will accelerate the delivery of Ampeak Energy's existing development portfolio while also supporting exciting new opportunities the Company has been exploring in the UK and internationally.
Aligned with this objective to accelerate the build out of its development portfolio and as a condition of the sale, agreed with Cardiff Capital Region as part of its loan arrangement, Ampeak has committed that half of the funds raised are ringfenced for the delivery of the AW1 expansion project. This project is making excellent progress towards financial close and will see AW1 move from a capacity of 240MWh to 480MWh. This pre-commitment of funds represents a large portion of Ampeak's equity investment in this expansion, which is expected to reach financial close next year after the Commercial Operation Date of the first phase.
The investment also underpins Ampeak Energy's assumptions around the value of its portfolio of projects, with a value of £260,000/MW.
Jones Bros already serves as the principal contractor on the AW1 project, responsible for delivering the balance of plant and electrical works, which are progressing on schedule and on budget.
The investment is also a positive development for Wales and the local area, as Jones Bros gains greater visibility and participation in a broader pipeline of projects, so it can continue to offer more job opportunities. At its peak, the Uskmouth site had over 500 contractors and staff working across its multiple projects.
Graham Reid, Ampeak Energy CEO, commented:
"We are delighted to welcome the owners of Jones Bros as equity partners in our flagship AW1 project and would like to thank all those involved in making this happen. This investment is great for the project, great for our existing pipeline of projects, and great news for our shareholders as it will provide the funds to take our extensive knowledge and experience to develop new projects."
Huw Jones MBE, Jones Bros and a Director of JB Energy, commented:
"The AW1 project is a true flagship of regeneration, and we are delighted to be joining one of the leading companies delivering battery projects. As a Welsh-based company, we are proud to be helping deliver one of the largest battery storage sites in Wales."
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
(Images of Graham Reid, Ampeak Energy CEO and Huw Jones MBE, Jones Bros and a Director of JB Energy, at the AW1 site)
For further information, please contact:
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Ampeak Energy Sean Parsons |
+44 (0)7739832446 |
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Strand Hanson Limited (Nominated and Financial Adviser) Richard Johnson Rory Murphy Harry Marshall |
+44 (0)20 7409 3494 |
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Zeus Capital Limited (Broker) Louisa Waddell Simon Johnson
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+44 (0)20 3829 5000 |
Notes to Editors
Ampeak Energy is a global developer, owner and operator of sustainable energy projects. Ampeak Energy owns the world's flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, which is being repurposed into a sustainable energy park that will become one of the UK's largest battery energy storage sites. www.ampeak.energy
Ampeak Energy's strategy: "Building a Sustainable Future to 2035", can be viewed here
Jones Bros website can be viewed here
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