A dynamic business developing strategic infrastructure solutions to address the worldwide demand for safe, secure and environmentally-sensitive energy storage and delivery facilities.
The company (formerly Portland Gas plc) demerged from Egdon Resources plc on 16th January 2008, and was admitted to the AIM market on 17th January 2008. The name change to InfraStrata plc was effected on 15th December 2009.
Since that time, the company investigated a broad range of potential energy infrastructure projects around the world, and in November 2015 a decision was made to initially focus on developing an underground natural gas storage facility at Islandmagee in County Antrim, Northern Ireland.
Between June 2017 and July 2018, a new executive team, supported by professional consultants and experienced non-executive directors, was appointed, and new funding was secured. This enabled FEED to be commenced in April, with completion due December 2018.
InfraStrata plc owns 100% of InfraStrata UK Limited, which in turn owns 100% of Islandmagee Energy Limited, the operating firm developing the Islandmagee salt cavern gas storage facility.
The Islandmagee facility is a strategic infrastructure project, the first phase of which will provide a safe, secure and flexible supply of natural gas for the entire island of Ireland, which relies upon gas for some 60% of its power generation. It is intended that the second phase of the project will extend its reach into the UK mainland. When complete, the facility will store 450 million cubic meters of gas, sufficient to satisfy peak demand for electricity in Ireland for around 14 days.
InfraStrata’s Islandmagee facility is unique in being the only gas storage project in North West Europe to be awarded ‘Project of Common Interest’ (PCI) status by the European Union (EU), confirming its strategic importance to the entire continent. PCI status unlocks EU grant funding, accelerated permitting procedures and incentivised regulatory conditions, further enhancing the long-term viability of the project.
Additionally, the company has obtained support from the governments of the UK (including Northern Ireland) and the Republic of Ireland for the Islandmagee project; and the UK government has awarded it ‘UK Guarantee Scheme’ status, which facilitates access to government guarantees on debt finance for 65% of the project cost.
The primary goal of the directors of InfraStrata plc is to enhance shareholder value by profitably realising the value of its Islandmagee gas storage facility project, whilst creating an Energy Hub at Islandmagee by incorporating additional project phases as they become commercially viable. Simultaneously, they are continually seeking out and exploring additional energy infrastructure opportunities around the world that are a natural fit to the company’s portfolio.
The Company is incorporated and operates in the United Kingdom.