The National Wealth Fund announced a GBP50 million (US$66 million) equity investment in AMP Clean Energy to accelerate the deployment of low-carbon energy infrastructure across the UK, strengthening local energy networks through flexible battery storage and supporting the decarbonisation of industry.

The NWF investment will enable AMP to roll out hundreds of Battery Box installations—an innovative approach to storing electricity close to where it’s used and delivering vital flexibility to the power grid. These compact battery systems connect directly to local distribution networks and are strategically located near high-demand areas such as residential neighborhoods, schools, and hospitals to better serve community energy needs. Building on its proven experience in decarbonising businesses like Simpsons Malt and Cargill, the funding will help AMP extend these solutions to a wider range of industrial customers across the UK. Asterion Industrial Partners, AMP’s majority owner since 2020, retains control, while NWF joins as a strategic partner to fuel the company’s next stage of growth. As Chancellor Rachel Reeves emphasized, this move aligns with the UK’s “Plan for Change,” aiming to deliver affordable, secure, clean energy infrastructure to drive economic growth, job creation, and national climate targets.