Alternergy beefs up fundraising team

Alternergy [ALTER 1.18, down 0.8%; 74% avgVol] [link] appointed two financial advisors to its team of consultants overseeing ALTER’s “capital raising framework to support the roll-out of its Road to 500 MW capacity target.” ALTER picked AlphaPrimus (mergers and acquisitions specialists who also advise on debt) and Astris Finance (global investment bankers with RE specialty). AlphaPrimus has advised on a string of high-profile local success stories, including the P6.7 billion investment by PT Pertamina in Citicore Renewable Energy [CREC 3.43, down 2.0%; 16% avgVol], and the innovative “energy transition mechanism” that helped ACEN [ACEN 3.52, down 3.3%; 186% avgVol] send its coal-fired SLTEC power plant into early retirement.

MB BOTTOM-LINE: Status updates don’t normally catch my eye because they usually come across as low-effort hypespam. It feels like half of every disclosure that Cirtek [TECH 1.32, down 0.8%; 23% avgVol] has ever released could be accurately categorized as hypespam, and Megaworld [MEG 1.83, down 1.6%; 25% avgVol] (both pre- and post-Kevin's takeover) isn’t far behind. But this one by ALTER is different. While we already knew that ALTER was continuing its drive to raise funds to hit its ambitious capacity goal, the selection of AlphaPrimus is interesting and (to me) demonstrates a bloodthirst for growth that I’d want from my management team if I were a shareholder. Is it marginally more rad that the name comes from Warhammer 40k and their logo is in a celtic font like Lord of the Rings or something? Yes, but the part I like best is that I’m more excited by the quality of the work they’ve done and what this could mean for ALTER in this phase of its ramp-up. 

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