Ethtry (LSE:ETHY) has committed £500,000 from its current cash reserves to take a senior secured participation in an oversubscribed syndicated facility arranged by GSB Capital to fund development expenditure on Cerulean Winds' Aspen Phase 1.
The Facility, established in September 2025, is a 364‑day loan with a first‑ranking English law debenture and share charges over each project company and is expected to pay interest income during 2026.
Ethtry, a UK‑listed company that operates an Ethereum treasury policy, says the debt stake complements its cryptoasset holdings and further diversifies its capital deployment into asset‑backed energy transition lending to generate risk‑adjusted returns for shareholders.
The participation is debt only and does not involve issuing new shares, so there is no dilution to existing equity holders.
Ethtry secured its allocation via GSB's selective syndication process, with GSB described as an FCA‑regulated wealth manager with over US$1bn assets under management, and Scottish Enterprise providing additional funding alongside the Facility.
Payment for Ethtry's allocation will be made from the Company's current cash reserves.
"The combination of senior secured lending and attractive risk‑adjusted returns makes this a compelling opportunity for our shareholders," said Steve Winfield, Director of Ethtry.
Cerulean Winds is targeting a final investment decision in 2027 and commercial operations before 2030 for Aspen Phase 1, with the wider project pipeline carrying an estimated £10.9bn lifetime investment and over 1,000 UK jobs.
