Ethtry PLC Invests £1 Million in Apatura’s Battery Storage and AI Data Centre Projects via Senior Secured Notes

Ethtry’s £1 Million Secured Investment in Apatura’s Infrastructure Portfolio

Ethtry PLC has allocated £1,000,000 to a senior secured notes facility issued by Apatura Ltd, securing a position in a developer active in battery energy storage and data centre infrastructure markets. The investment grants Ethtry a senior secured status expected to generate quarterly interest income plus a redemption premium at maturity. Importantly, this commitment is fully funded from Ethtry’s existing cash reserves, avoiding any new equity issuance or shareholder dilution. This structured investment enables Ethtry to deploy surplus capital while preserving operational flexibility.

Ethtry’s secured position includes first-ranking security at both holding-company and project-company levels, providing layered protection across Apatura’s development and operational assets. The quarterly income aligns with Ethtry’s strategy of investing capital not required for near-term operations into income-generating secured assets. The redemption premium further enhances returns upon note repayment, creating a defined income stream for shareholders.

Apatura’s Scale and Strategic Role in Battery Storage and AI Data Centres

Founded in 2014 and headquartered in York with an office in Edinburgh, Apatura Ltd employs over 60 people and specialises in battery energy storage systems (BESS) and digital infrastructure development. The company focuses on grid-secured sites that support both the renewable energy transition and emerging AI infrastructure needs. Apatura reports a 10GW pipeline comprising roughly 2GW of fully consented battery storage and 2.4GW of AI-ready data centre capacity across grid-secured locations.

Its flagship project is the Ravenscraig Data Centre Campus in North Lanarkshire, Scotland, featuring a 550MW sustainably designed AI data centre campus and a 650MW battery energy storage facility on the former Ravenscraig steelworks site, with an estimated capital expenditure of £3.9 billion. Apatura has developed one of the UK’s largest independently originated battery energy storage portfolios, heavily concentrated in Scotland. This geographic and sectoral focus places Apatura at the nexus of two critical infrastructure demands: grid flexibility for renewables and reliable power for data centres.

Strategic Intersection of Renewable Storage and AI Infrastructure Power Needs

Ethtry’s Board recognises that power availability and grid access are key constraints for both the energy transition and scaling AI infrastructure. A renewables-driven electricity system requires extensive flexible storage and grid-balancing to manage variable wind and solar generation, while AI and data centre operations demand large volumes of reliable and resilient power. Grid-secured sites capable of serving both sectors are increasingly scarce, according to Ethtry’s analysis.

By investing in Apatura’s senior secured notes, Ethtry gains income-generating exposure to both battery storage and AI data centre infrastructure, complementing its direct development activities. Ethtry remains focused on solar-led renewable projects and data centre infrastructure development, while this investment provides secured exposure to an established third-party developer with consented assets and grid positions. This diversifies Ethtry’s infrastructure portfolio across multiple developers and geographies.

Growth of Ethtry’s Structured Debt Programme to £1.5 Million

The Apatura investment marks Ethtry’s second deployment under its structured debt programme in the energy sector, bringing total exposure to £1.5 million across two senior secured positions. The initial deployment, announced in May 2026, was a £500,000 senior secured loan to Cerulean Winds Limited, a wind energy developer. This dual-position strategy diversifies Ethtry’s secured energy infrastructure holdings across different renewable technologies and developers, mitigating concentration risk.

The structured debt programme aims to invest surplus capital not needed for near-term operations into secured, income-generating assets offering predictable cash flow. The Board will continue to maintain sufficient liquidity for operational priorities, with any future deployments contingent on available cash, market conditions, and capital allocation assessments. This disciplined approach ensures secured investments do not impede Ethtry’s core solar, AI, data centre, and Ethereum treasury initiatives.

Capital Allocation Discipline and Funding from Existing Reserves Without Equity Issuance

Ethtry’s £1 million commitment to Apatura is fully funded from existing cash reserves, avoiding new equity issuance and shareholder dilution. This disciplined capital allocation deploys surplus liquidity into secured positions with defined income profiles. By not issuing new shares, existing shareholders retain their ownership percentages while benefiting from additional income streams generated by treasury assets. The quarterly interest payments and redemption premium provide predictable cash returns directly to shareholders.

Prior to this investment, Ethtry’s cash reserves were sufficient to fund the £1 million commitment while maintaining operational flexibility for its solar and data centre development activities. The Board’s decision to fund from reserves without capital raising reflects confidence in liquidity and strategic priorities. This contrasts with alternative financing options involving debt or equity issuance and supports a diversified portfolio of secured infrastructure positions across multiple third-party developers.

Ethtry’s Diverse Infrastructure Platform Across Renewable Energy, AI, and Web3

Ethtry PLC is a UK-listed company pursuing opportunities in renewable energy, artificial intelligence, data centre infrastructure, and Web3 technologies, alongside implementing an Ethereum Treasury Policy. The company combines direct solar-led renewable energy and AI-ready data centre development with secured investments in third-party infrastructure developers. This multi-dimensional approach positions Ethtry as a distinctive listed infrastructure platform aligned with the digital economy’s power and storage needs. The company recognises that next-generation digital infrastructure requires renewable generation, grid-balancing storage, and reliable data centre power.

Ethtry integrates Web3 and Ethereum treasury activities with traditional infrastructure development, adopting a Cryptoassets Treasury Policy that allocates a portion of treasury reserves to Ethereum (including Layer 2 solutions) and stablecoins such as USDC and USDT, subject to market conditions. This diversified strategy combines physical infrastructure investments with digital asset exposure to capture value across energy transition infrastructure and emerging digital ecosystems. Ethtry is not authorised or regulated by the Financial Conduct Authority, and investments in its shares are not protected by the Financial Services Compensation Scheme or Financial Ombudsman Service.

Income Generation, Security Structure, and Redemption Premium Details

The senior secured investment in Apatura is structured to provide Ethtry with quarterly interest income, offering regular cash flow distinct from growth-focused equity investments. The senior secured status grants Ethtry priority claims on Apatura’s assets and cash flows ahead of subordinated creditors and equity holders, reducing credit risk. The first-ranking security covers both holding and project company assets, providing layered protection.

In addition to quarterly interest, Ethtry will receive a redemption premium upon note maturity, compensating for capital provision and time value of money. This combination of quarterly income, redemption premium, and senior secured status creates a defined return profile that differs significantly from equity stakes in early-stage developers. The secured structure limits downside risk while generating predictable returns, aligning with Ethtry’s disciplined capital allocation goals using surplus cash.

Strategic Impact for Investors and Sector Convergence Trends

This investment reflects Ethtry’s view that grid-secured battery storage and AI-ready data centre capacity are critical infrastructure constraints and opportunities for the coming decade. As renewable energy penetration grows in the UK and Europe, grid operators require significantly more battery storage and flexible resources to balance variable wind and solar output. Concurrently, AI infrastructure—including large language models, machine learning inference, and crypto compute—demands vast amounts of reliable, low-carbon electricity. Developers with grid-secured sites serving both markets are well-positioned to capitalise on these converging demands.

Apatura’s dual focus on battery storage and AI data centre development places it at the heart of these infrastructure trends. Its 10GW pipeline, featuring 2GW of consented battery storage and 2.4GW of grid-secured data centre capacity, demonstrates the scale necessary to meet market needs. For Ethtry investors, this investment offers exposure to a developer capturing structural infrastructure value without requiring Ethtry to allocate capital for direct development. This enables Ethtry to maintain focus on its core solar and data centre projects while generating secured income from a complementary third-party platform.

Risk Factors and Conditions for Future Debt Programme Investments

Ethtry’s Board has emphasised that future deployments under its structured debt programme will depend on available cash, market conditions, and ongoing capital allocation reviews. This approach recognises that macroeconomic factors, interest rates, and operational capital needs may fluctuate, influencing Ethtry’s capacity and willingness to invest further in secured infrastructure. The Board retains discretion to pause or redirect capital deployment if operational priorities shift or market conditions worsen materially.

Investors should also note that Ethtry holds cryptoassets as part of its treasury strategy and may continue acquiring Ethereum and stablecoins. Cryptocurrency markets are highly volatile and carry risks including price swings, custody and cybersecurity concerns, liquidity issues, counterparty risks, and regulatory uncertainty. Cryptoassets are high-risk and may result in substantial losses. Ethtry is not regulated by the Financial Conduct Authority, and investments in its shares are not protected by the Financial Services Compensation Scheme or Financial Ombudsman Service.