Woodford Patient Capital writes up value of Industrial Heat – Woodford Patient Capital has added 8p to its NAV by writing up the value of Industrial Heat by 357%. This is now valued at $112.9m, which represents an increase of 8.02p per share of WPCT compared to the NAV published on Thursday 20 September 2018, based on a $/GBP rate of 1.33. This will be reflected in the WPCT NAV of Thursday 20 September 2018.
Woodford statement:
“The net asset value of the Woodford Patient Capital Trust has today seen a material uplift as a result of developments at Industrial Heat, a disruptive technology company in which the Company holds a position.
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 past 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.
Although, this is positive progress for Industrial Heat and the Trust, it remains early days in the development and commercialisation of these technologies. We look forward to sharing more details with you when we can.”
[QD comment: There are many, many pages of discussion on this topic on the internet – most of them highly sceptical. If we are to have faith in this uplift to WPCT’s NAV, we might need to see a bit more evidence of what technology this company has and how close it is to being commercially viable.]
WPCT : Woodford Patient Capital writes up value of Industrial Heat