Gresham House Energy Storage (ticker: GRID) was launched in 2018, and it is the larger of the two remaining battery storage trusts listed on the London market. GRID accounts for around one-fifth of the GB battery storage market by capacity and has a market cap of around £450m. In its first few years, it expanded rapidly via numerous share issues, helped by bumper revenues during 2021 and 2022, before overcapacity and technical issues in the GB market caused revenues to slump in 2023 and 2024. GRID was forced to cancel its dividend and curtail its expansion plans, including a proposed diversifi...
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UPDATE: RM Funds proposed a number of board changes at Gore Street Energy Storage at a meeting held in September 2025. Although its motions were defeated, the trust subsequently changed all of its directors and has begun to sell some of its assets. Following a requisition from Saba, a continuation vote is being held at the AGM taking place in mid-September 2026.
In early 2018, Gore Street Energy Storage (ticker: GSF) became the first energy storage fund to be listed in London. It initially raised just £30m but has subsequently raised a further £485m. Gore Street's first few assets were based...
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UPDATE: This trust was acquired by Foresight for 92.4p per share in June 2025.
Harmony Energy Income (ticker: HEIT) joined the London market in November 2021, becoming the third trust dedicated solely to investing in battery storage assets after the 2018 debuts of Gore Street Energy Storage and Gresham House Energy Storage. HEIT has one operational project, one due to become operational in the next few weeks, six more due to become operational over the next year or so, and one unfunded project that is termed as 'shovel ready'. These nine projects have a combined capacity of 494MW and use batt...
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UPDATE: A revised version of this profile was published in August 2025.
Stuart qualified as a chartered accountant before moving into journalism and has 20 years of experience of owning and writing about investment trusts from an independent standpoint. He is now producing regular fund profiles for the Money Makers circle. This post originally appeared on his blog but it has been added to our archive to build up our library of content.
Gresham House Energy Storage Fund is one of the seventeen UK-listed renewable energy infrastructure trusts and currently boasts the best performance over the ...
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