KIRKBI Climate A/S has made a follow-on investment in Highview, the UK-based developer of long-duration energy storage and grid stability solutions. The investment forms part of a GBP 130 million capital raise with other existing investors and partners, bringing total funding secured to commercialise and roll out Highview's storage solutions to over GBP 500 million.
The new capital will fund phase one of Highview's Hunterston project in Scotland, which is a “stability island” designed to deliver critical grid stability to the UK electricity grid.
Anupam Bhargava, CEO of KIRKBI Climate, said:
“We’re pleased to continue our partnership with Highview as the company moves from pilot deployments to commercial roll-out. We focus on backing high-impact solutions that accelerate the energy transition, and Highview is a strong example of this, as storage and grid stability are fundamental to the energy transition.”
The Hunterston project is planned as a multi-phase development with construction and commissioning of the stability island as phase one, and integration of a long-duration energy storage system as phase two, which was recently recognised by Ofgem as an eligible project under its Cap and Floor support scheme for long-duration energy storage. This will deliver long-duration, flexible power output and further support renewable integration in the UK.
Second investment in Highview
This marks KIRKBI Climate’s second investment in Highview. In June 2024, KIRKBI Climate participated in a funding round for the Carrington project near Manchester, which is a first-of-its-kind 300MWh liquid air energy storage facility currently under construction.
Together, the Carrington and Hunterston projects demonstrate Highview's progress in delivering commercial-scale, long-duration energy storage and the growing role of such solutions in enabling reliable, renewable-based power systems.
Highview is part of KIRKBI Climate’s growing portfolio of investments within energy transition, circular plastics and land sustainability. Currently, KIRKBI Climate’s portfolio represents approximately DKK 10 billion, with the ambition to invest up to an additional DKK 10 billion over the next five years.
About KIRKBI Climate A/S
KIRKBI Climate is owned by KIRKBI A/S, the holding company of the LEGO Group and other companies owned by the Kirk Kristiansen family. With a purpose of building a better future for children, KIRKBI Climate addresses global climate change by building high-impact businesses focused on the energy transition, circular plastics, and land sustainability. KIRKBI Climate builds businesses based on proven and mature technologies, while also exploring and investing in emerging and promising solutions that require long-term capital to scale and make a meaningful impact on climate challenges.
Contact
Carsten Birkeland Kjær
Communication Lead – KIRKBI A/S
