Shares in European Green Transition (EGT), a company developing a range of assets aimed at capitalising on the opportunity of the green transition and which is chaired by Cathal Friel, began trading on London's AIM today.
It follows a placing, subscription and retail offer which raised £6.46m.
This evening its shares closed their first day of trading at 11.25p, up 12.5%.
"Today's listing and fundraise is a crucial milestone for EGT," said Aiden Lavelle, chief executive officer of European Green Transition.
"The funds raised will contribute to our existing green economy projects which are intended to support the energy transition across Europe, notably the Olserum Rare Earth project in Sweden."
"Additionally, the fundraise will strengthen the Company's position to acquire what we believe are distressed and undervalued green economy assets in Europe."
Mr Friel has had previous success with the flotation of companies such as Cove Energy, Open Orphan (now hVIVO) and Amryt.
"The EGT team and Board have a strong track record of scaling M&A focused companies on AIM, notably Cove Energy plc, Amryt Pharma plc and hVIVO plc, and we are confident we can replicate this tried and tested approach," said Mr Friel.
"I am particularly excited by the significant opportunity that EGT aims to capitalise on in Europe as we move from the dependence on fossil fuels towards a green, renewables focused economy, and I have personally invested a further £300,000 in the IPO alongside the incoming investors on top of my significant investment in EGT to date."
