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November 26, 2021 | News

Surrey Research Park tenant eyes £350m valuation in London IPO

Surrey Research Park tenant eyes £350m valuation in London IPO

Surrey Research Park tenant, Superdielectrics is set to list in London in the coming weeks. In doing so, the electrical energy storage developer hopes to boost its valuation to £350m.

Superdielectrics is also intending to raise £20m in the December float, to help develop tech to build “environmentally benign” electrical energy storage devices for the sustainable energy and transport system push.

“We believe this is a vital development in cleantech because energy storage enables companies and countries to meet their net zero targets via the removal of intermittency risk in key forms of renewable energy,” CEO Jim Heathcote said.

“At its fullest potential, the technology could challenge existing battery technologies, not just on performance but also on cost.”

The CEO added that the company’s is “100 per cent focused” on the UK, and the rest of the world’s, transition to net zero within the energy sector.

Backed by billionaire Michael Spencer, FTSE 100 ICAP boss and former Tory treasurer, the group has patented new polymers that can be used as electrolytes in supercapacitors, which bridge the gap between electrolytic capacitors and rechargeable batteries.

Directors forecast that the first commercial prototype supercapacitor will open the route to beginning licensing negotiations – which is expected to occur between 2023 and mid-2025.

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