Additional project funding agreement

RNS Number : 1935I

eEnergy Group PLC

13 April 2022

 

13 April 2022

eEnergy Group plc

("eEnergy" or "the Group")

Additional project funding agreement with SUSI Partners

eEnergy (AIM: EAAS), the digital energy services company, is pleased to announce that it has entered into a new €10m committed project funding facility ("The Facility") to extend both the scope and scale of its financing arrangements with SUSI Partners AG ("SUSI").

The Facility extends the relationship eEnergy has had with SUSI in Ireland to the UK.  In making available financing for up to twelve years and across eEnergy's range of energy efficiency and onsite generation technologies, the Facility enables eEnergy to continue to create innovative, market leading capital free solutions for its customers.

SUSI is a leading European fund manager specialising in sustainable energy infrastructure investments. The Facility is being provided through the SUSI Energy Efficiency Fund II.

The Group continues to work with SUSI to grow the long-term partnership beyond this Facility, with a view to scaling funding capacity for Energy Efficiency projects to match the Group's growth ambitions. 

Harvey Sinclair, CEO of eEnergy, commented: "The extension of the project funding from SUSI to include the UK market is a significant stepping stone for eEnergy and will support our rollout of multi-technology solutions across metering, EV charging, solar and lighting over the coming months. We are excited to build on our existing successful relationship and look forward to working with SUSI to develop a longer-term funding strategy as we continue to see increasing levels of appetite from businesses, schools and other institutions for capital free solutions to deliver lower carbon outcomes."

Fabian Karger, Investment Director of SUSI, commented: "The extension of our project funding facility marks another important step in the successful collaboration with eEnergy and strengthening SUSI`s presence in the United Kingdom. Providing capital for customer-oriented energy solutions as offered by eEnergy will be paramount on our way to achieve Net Zero."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person responsible for arranging for the release of this announcement on behalf of eEnergy is Harvey Sinclair, Chief Executive Officer.  

Contacts:

eEnergy Group plc	Tel: [phone]
Harvey Sinclair, Chief Executive Officer Ric Williams, Chief Financial Officer	[e-mail]; www.eenergyplc.com
Singer Capital Markets (Nominated Adviser and Joint Broker)	Tel: [phone]
Justin McKeegan, Mark Taylor, Asha Chotai (Corporate Finance) Tom Salvesen (Corporate Broking)
Turner Pope Investments (Joint Broker)	Tel: [phone]
Andy Thacker, James Pope	[e-mail]
Tavistock	Tel: [phone]
Jos Simson, Heather Armstrong, Katie Hopkins	[e-mail]

About eEnergy Group plc

eEnergy Group plc is an integrated energy services company, enabling organisations to transition to 'Net Zero' through "Energy as a Service". The Group offers:

·Energy Management as a Service; providing energy measurement, monitoring and analytics on top of core "Zero Carbon" procurement services;

·Energy Efficiency as a Service; zero upfront capital, energy reduction solutions through measured savings contracts including its eLight and RSL LED businesses; and

·Enhanced customer value proposition through data gathered and analysed with its proprietary MyZeERO platform.

eEnergy was admitted to AIM in January 2020. The Board's strategy is to use its market leading eLight LED business as the foundation to expand eEnergy as a broader energy services company via a 'buy and build' strategy in the energy management sector. The market in the EU for energy efficiency services was approximately €25 billion in 2017 and is expected to double by 2025. 

eEnergy has been awarded The Green Economy Mark by the London Stock Exchange, which recognises a company's work on sustainability. 

https://eenergyplc.com/  

About SUSI

Founded in 2009, SUSI Partners is a Swiss fund manager specialised in sustainable energy infrastructure investments with EUR 1.6bn in capital commitments from institutional investors. The firm's investment strategy focuses on private equity and credit opportunities across the energy transition spectrum, including clean energy generation, energy efficiency measures, and energy storage and integrated solutions. With a successful track record of more than 120 transactions in over 20 countries to date, SUSI Partners seeks to achieve attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to achieving global carbon neutrality.

 

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