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22 March 2021

Triple Point Energy Efficiency Infrastructure Company plc

("TEEC" or the "Company" or together with its subsidiaries, the "Group")

Investments in CHP+ assets

The Board of Directors of Triple Point Energy Efficiency Infrastructure Company plc (ticker: TEEC) is pleased to announce that it has completed investments in the target CHP+ assets identified at IPO. These are held by Harvest Generation Services Limited and Glasshouse Generation Limited ("Harvest and Glasshouse").

Under the terms of the investment, the Company has provided £21m of senior debt finance secured against Harvest and Glasshouse, the underlying assets, equipment, and contracts. The interest rate is 7.75% per annum, each loan carries a term of 10 years, and each loan is amortising over 14 years, with the residual amount to be repaid at maturity.

Harvest and Glasshouse hold operational, established energy centres located on the Isle of Wight, supplying heat, electricity and carbon dioxide to the UK's largest tomato grower, APS Salads ("APS"), pursuant to an Energy Services Agreement, with a remaining term of approximately 15 years.

APS is responsible for approximately one third of the country's tomato production and has over 65 years of operational experience.  APS owns and operates over six million sq. ft. of glasshouses and distributes to all major UK food retailers including: Aldi, Iceland, Lidl, M&S, Ocado, Morrisons, Sainsbury's, Tesco and Waitrose.

The CHP+ units at both Harvest and Glasshouse are significantly more efficient than the old engines (operational until 2015), with regards to both electric efficiency (~42% efficiency compared against ~33%) and thermal efficiency (~48% efficiency compared against ~32%). The new engines are therefore almost 90% efficient (i.e. 90% of the fuel energy is converted into electricity and hot water) and are less carbon intensive.

An additional benefit of these facilities is that the main waste product from combustion - carbon dioxide - is used to enhance crop yields on site rather than being vented into the atmosphere. Both energy centres comprise state of the art Rolls-Royce gas engines and heat/carbon dioxide recovery and distribution equipment.

The transaction is aligned with the Company's targeted risk/return profile and objective of delivering secure investments that generate a total return for investors comprising sustainable and growing income and capital growth. It also supports the transition to a low carbon economy in accordance with the UK government's overall environmental targets.

Jonathan Parr, Triple Point, said:

"We are pleased to have deployed these funds into Harvest and Glasshouse, two assets which deliver highly energy efficient services to a critically important UK domestic producer of essential food items. 

We have a strong pipeline of investment opportunities and look forward to updating the market on the next investments to be made by TEEC in the short term."

John Roberts, the Company's Chairman, said:

"I am delighted that TEEC has deployed these funds into two high-quality assets. The senior debt investments will continue to help the UK's largest tomato grower to grow produce with low carbon intensity and an optimised energy efficiency.  The investments are aligned with the Company's focus on building a diversified porfolio of Energy Efficiency assets with a positive environmental impact.

I am confident that Triple Point, the Company's Investment Manager, will continue to progress the execution of our pipeline of energy efficiency investment opportunities."

For further information, please contact:

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: www.tpenergyefficiency.com.

NOTES:

The Company is a recently incorporated investment trust which invests exclusively in a diversified portfolio of Energy Efficiency assets in the UK, which have a positive environmental impact. The Company's investments will focus on the core sectors of: low carbon heat distribution; social housing retrofit and industrial energy efficiency; and distributed generation.

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional and public capital, and has a proven track record of investment in Energy Efficiency and decentralised energy generation projects. In 2018, Triple Point was appointed as the Delivery Partner to BEIS, a department of the UK government, to deliver the £320 million Heat Networks Investment Project ("HNIP").

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 19 October 2020 and was awarded the London Stock Exchange's Green Economy Mark.