The net asset value of the Woodford Patient Capital Trust and the Woodford Equity Income Fund will today see material uplifts, as a result of developments at Industrial Heat, a disruptive technology company in which both portfolios hold a position 1.
Industrial Heat has built a platform of new energy technologies focused on harnessing hitherto poorly understood or neglected energy science, including cold fusion. Despite its potentially disruptive implications, scepticism has historically surrounded this branch of science. We funded Industrial Heat to engage credible world-leading institutions to rigorously assess the claims of research groups in the field.
Over the course of the last eighteen months, there have been developments within Industrial Heat’s portfolio of technologies that have shown increasing promise. Hence, with the company raising capital from other investors to continue the path to commercialisation, the valuation of the company has been adjusted to reflect this progress.
Link Fund Solutions (which, as the Authorised Company Director of the LF Woodford Equity Income Fund and the appointed Alternative Investment Fund Manager of the Woodford Patient Capital Trust, has full responsibility for the unquoted security valuation process), is in receipt of details of the ongoing fundraising and has decided to increase the value of the Industrial Heat holding by 357%.
Although this is exciting and positive progress for Industrial Heat and the funds, it remains early days in the development and commercialisation of these technologies. We look forward to sharing more details with you when we can.