Shares in Dublin listed Corre Energy rose 15% this morning as the company confirmed a process is ongoing with multiple parties interested in investing in the company.
Last month the developer of long duration energy storage systems said it had received interest from a number of potential investors.
"A process with these investors is ongoing to provide additional funding for capital expenditure for the various projects and working capital," the company said in a brief statement this morning.
"There is no certainty that any investment will be made nor on the size and structure of such an investment."
The company added that it has appointed Rothschild & Co as financial adviser to assist it in assessing the options.
The company is the largest developer of energy storage in Europe with projects in the Netherlands, Denmark and Germany.
Despite this morning's bounce, shares in Corre Energy are down 55% so far this year.
