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Harmony Energy Income Trust

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Namestring
Harmony Energy Income Trust
Websiteurl
heitp.co.uk
Company typeenum
Private
Founded yearint
2021
Descriptiontext

Harmony Energy Income Trust (LSE: HEIT) was a UK-listed investment trust that deployed capital into commercial-scale battery energy storage systems (BESS) and renewable energy generation projects, primarily in Great Britain. Founded in 2021 and headquartered in Knaresborough, the trust built a portfolio of shovel-ready and operational battery storage sites serving as physical infrastructure for grid stability, renewable energy integration, and the UK's broader energy transition. Its core asset class was utility-scale battery storage hardware, with revenues derived from grid services, capacity market payments, balancing mechanism participation, and merchant energy arbitrage rather than software or licensing models.

The trust operated with a small core team (1-10 employees) and funded its pipeline through a combination of debt and equity. A major 2022 financing round with Rabobank and NatWest Group provided approximately $159.3 million in capital, followed by a 2023 investment from Renewable Environmental Investments. The underlying UK BESS market is competitive and capital-intensive, with at least 2.7 GW of battery projects changing hands across development stages since 2017 at an average acquisition cost of approximately £570,000/MW. In February 2026, Foresight Group acquired HEIT for £209.9 million, absorbing the portfolio into a larger asset management platform and ending independent operations. The global hybrid energy storage market is projected to grow from $16.56 billion in 2024 to $28.22 billion by 2032 (CAGR 6.89%), indicating continued sector momentum under the new ownership structure.

Short descriptiontext

Harmony Energy Income Trust was a UK-listed investment trust that deployed capital into commercial-scale battery energy storage systems and renewable generation projects in Great Britain, serving utilities and grid operators. Acquired by Foresight Group for £209.9M in February 2026.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersKnaresborough, United Kingdom
HQ citystring
Knaresborough
HQ countrystring
United Kingdom
HQ regionstring
Europe
Markets served

Serves global market

Keyword5 values
battery energy storage, renewable energy investments, grid stability services, energy transition infrastructure, commercial energy storage
Industry3 codes
1Utility-Scale BESS Project Development & Ownership (IPP/Developer)
CodeEUAFAAAAPrimaryYes
2BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties)
CodeEUAFAAAIPrimaryNo
3BESS Operations, Maintenance & Asset Performance Management (APM)
CodeEUAFAAAGPrimaryNo
NAICS code2 codes
  • Other Investment Pools and Funds5259
  • Wind Electric Power Generation221115
SIC code1 code
  • Electric Services4911
Product category
Energy Storage Infrastructure Investment
Social media profiles1 record
Cost components3 values
Operations, Infrastructure, Others
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Harmony Energy Income Trust invests in commercial-scale battery energy storage systems (BESS) and renewable energy generation projects in the UK. The trust holds and operates a portfolio of energy storage assets that provide grid stability services, enable renewable energy integration, and support the broader energy transition. Its assets serve utilities, grid operators, and the broader power system with stored energy capacity and ancillary grid services.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • The global hybrid energy storage market is projected to grow from US$16.56 billion in 2024 to US$28.22 billion by 2032, with a CAGR of 6.89%
Product and service2 records
1Battery Energy Storage Systems (BESS) Portfolio
CategoryEnergy Storage Infrastructure
2Renewable Energy Generation Projects
CategoryRenewable Energy Infrastructure
Scale indicator3 records

Each record includes

Type, Value, Description, Source

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight3 records

Each record includes

Type, Description

Market position
Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds2 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors3 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Harmony Energy Income Trust

Energy Storage Infrastructure Investmentheitp.co.uk

Harmony Energy Income Trust was a UK-listed investment trust that deployed capital into commercial-scale battery energy storage systems and renewable generation projects in Great Britain, serving utilities and grid operators. Acquired by Foresight Group for £209.9M in February 2026.

What Harmony Energy Income Trust does

Harmony Energy Income Trust (LSE: HEIT) was a UK-listed investment trust that deployed capital into commercial-scale battery energy storage systems (BESS) and renewable energy generation projects, primarily in Great Britain. Founded in 2021 and headquartered in Knaresborough, the trust built a portfolio of shovel-ready and operational battery storage sites serving as physical infrastructure for grid stability, renewable energy integration, and the UK's broader energy transition. Its core asset class was utility-scale battery storage hardware, with revenues derived from grid services, capacity market payments, balancing mechanism participation, and merchant energy arbitrage rather than software or licensing models.

The trust operated with a small core team (1-10 employees) and funded its pipeline through a combination of debt and equity. A major 2022 financing round with Rabobank and NatWest Group provided approximately $159.3 million in capital, followed by a 2023 investment from Renewable Environmental Investments. The underlying UK BESS market is competitive and capital-intensive, with at least 2.7 GW of battery projects changing hands across development stages since 2017 at an average acquisition cost of approximately £570,000/MW. In February 2026, Foresight Group acquired HEIT for £209.9 million, absorbing the portfolio into a larger asset management platform and ending independent operations. The global hybrid energy storage market is projected to grow from $16.56 billion in 2024 to $28.22 billion by 2032 (CAGR 6.89%), indicating continued sector momentum under the new ownership structure.

Harmony Energy Income Trust firmographics

Firmographics
Name
Harmony Energy Income Trust
Website
https://heitp.co.uk
Company type
Private
Founded year
2021
Operating status
Acquired
Headcount range
1–10 employees
Short description
Harmony Energy Income Trust was a UK-listed investment trust that deployed capital into commercial-scale battery energy storage systems and renewable generation projects in Great Britain, serving utilities and grid operators. Acquired by Foresight Group for £209.9M in February 2026.
Ownership category
akta.pro rank

Harmony Energy Income Trust industry classification

Industry
Product category
Energy Storage Infrastructure Investment
NAICS
Other Investment Pools and Funds (5259), Wind Electric Power Generation (221115)
SIC
Electric Services (4911)
akta.pro primary industry
Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
akta.pro secondary industries
BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG)

Keywords

  • Battery energy storage
  • Renewable energy investments
  • Grid stability services
  • Energy transition infrastructure
  • Commercial energy storage

Where Harmony Energy Income Trust is headquartered

Location

Headquarters

HQ city
Knaresborough
HQ country
United Kingdom
HQ region
Europe

Markets served

Harmony Energy Income Trust business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Infrastructure, Others

Harmony Energy Income Trust product offering

Product offering

Core offering

Harmony Energy Income Trust invests in commercial-scale battery energy storage systems (BESS) and renewable energy generation projects in the UK. The trust holds and operates a portfolio of energy storage assets that provide grid stability services, enable renewable energy integration, and support the broader energy transition. Its assets serve utilities, grid operators, and the broader power system with stored energy capacity and ancillary grid services.

Differentiator

Problem solved

Functional benefit

Products and services

  • Battery Energy Storage Systems (BESS) Portfolio
  • Renewable Energy Generation Projects

Quantifiable outcome

  • The global hybrid energy storage market is projected to grow from US$16.56 billion in 2024 to US$28.22 billion by 2032, with a CAGR of 6.89%

Companies that use Harmony Energy Income Trust

Customer profile

Segments2 records

Ideal customer profiles2 records

Harmony Energy Income Trust technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Harmony Energy Income Trust partnerships and signals

Strategic signal

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Harmony Energy Income Trust competitors and assessment

Company assessment

Market position

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

Harmony Energy Income Trust social profiles

Digital presence

Harmony Energy Income Trust financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Harmony Energy Income Trust leadership team

Management profile

Number of profiles

Harmony Energy Income Trust funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Harmony Energy Income Trust M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harmony Energy Income Trust

What does Harmony Energy Income Trust do?

Harmony Energy Income Trust invests in commercial-scale battery energy storage systems (BESS) and renewable energy generation projects in the UK. The trust holds and operates a portfolio of energy storage assets that provide grid stability services, enable renewable energy integration, and support the broader energy transition. Its assets serve utilities, grid operators, and the broader power system with stored energy capacity and ancillary grid services.

Is Harmony Energy Income Trust a public or private company?

Harmony Energy Income Trust is a private company. It is classified as public and is currently acquired.

When was Harmony Energy Income Trust founded?

Harmony Energy Income Trust was founded in 2021. It employs 1 to 10 people.

Where is Harmony Energy Income Trust based?

Harmony Energy Income Trust is headquartered in Knaresborough, United Kingdom, in the Europe region.

Does Harmony Energy Income Trust have an API?

No public API is recorded for Harmony Energy Income Trust.

What industry is Harmony Energy Income Trust in?

Harmony Energy Income Trust's product category is Energy Storage Infrastructure Investment. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAI, BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties). Its NAICS code is 5259 and its SIC code is 4911.

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openPR.comHybrid Energy Storage Market Size Expected to Reach US$28.22 Billion by 2032, with Asia Pacific Dominating at 45% Market ShareThe global hybrid energy storage market reached US$16.56 billion in 2024 and is projected to grow to US$28.22 billion by 2032, with a CAGR of 6.89% during the forecast period 2025-2032, driven by rising demand for renewable energy integration, government incentives for clean power, and the need for efficient grid management combining batteries and supercapacitors. Asia Pacific leads the market with approximately 45% share, followed by North America at 35% and Europe at 22%, with recent M&A activity including Drax Group's £157.2 million acquisition of a 260 MW BESS portfolio and Foresight Group's £209.9 million acquisition of Harmony Energy Income Trust reshaping the competitive landscape.Polaris Market ResearchBattery Energy Storage System Market Size & Growth 2034The global Battery Energy Storage System (BESS) market was valued at USD 12.20 billion in 2024 and is projected to reach USD 45 billion by 2034, growing at a CAGR of 14.0%. This expansion is primarily driven by the integration of renewable energy sources, grid modernization initiatives, and government policies supporting low-carbon transitions. Key market participants include Tesla, BYD, LG Energy Solutions, and Harmony Energy Income Trust, who are actively developing large-scale storage projects and advancing battery technologies.MercomcapitalFunding and M&A Roundup: ESS Tech Raises $31 MillionESS Tech secured $31 million in insider-led funding to advance its iron flow long-duration energy storage systems, while Lightshift Energy obtained a $40 million credit facility to support construction pipelines. Additionally, Ionic Mineral Technologies raised $29 million for production expansion and Foresight Group acquired a controlling stake in Harmony Energy Income Trust.RenewsAurora reports robust UK renewables financingAurora Energy Research reported supporting £3.7bn in debt financings for UK renewables and energy storage projects during the first half of 2025, despite regulatory uncertainties. Notable transactions included the take-private of Harmony Energy Income Trust by Foresight Group and financing support for Cleve Hill Solar Park and the Inch Cape offshore wind project. This activity highlights strong lender appetite and continued execution of development pipelines in the sector.//www.investmentweek.co.uk/Harmony Energy Income refinances debt facility amid investor concerns over short-term solvencyBattery storage investment trust Harmony Energy Income (HEIT) has refinanced its debt facility, easing investor fears over its solvency. The refinancing comes amid concerns regarding short-term financial stability, which has now been addressed with improved borrowing rates. This development may boost investor confidence moving forward.bp globalbp announces deal with investment company Harmony Energy Income Trust for physical power trading and optimizationbp has signed an agreement with Harmony Energy Income Trust to provide physical power trading and optimization services for two battery energy storage systems totaling over 80MW/160MWh, scheduled to come online in the first half of 2024. The collaboration utilizes bp's Open Energi platform to support grid stability and manage renewable supply fluctuations in the UK. This marks the first new BESS assets bp has contracted to optimize since acquiring Open Energi in 2021.Morningstar Financial ResearchHarmony Energy Income Trust extends credit terms as projects advanceHarmony Energy Income Trust extended its credit facility with NatWest Group and Rabobank to GBP110 million, securing additional debt as two recently acquired projects enter construction. The trust also appointed Envision Energy for battery energy storage systems and maintenance contracts at the Wormald Green and Hawthorn Pit sites. Currently, seven projects are under construction with a target capacity of 300 MW/600 MWh, aiming for commercial operations between Q1 2023 and Q2 2024.