AGM Statement

RNS Number : 8999S

eEnergy Group PLC

19 November 2021

 

19 November 2021

eEnergy Group plc

("eEnergy" or "the Group")

Annual General Meeting Statement

eEnergy (AIM: EAAS), a leading Energy Efficiency-as-a-Service and Energy Management-as-a-Service business in the UK and Ireland, will hold its annual general meeting later this morning and the Chairman, David Nicholl, intends to make the following statement:

"The Group continues to trade in-line with market expectations for the current financial year ending 30 June 2022 (FY22). eEnergy continues to make significant progress towards its stated goal to provide a simple, one stop shop solution to organisations and companies wanting a path to Net Zero emissions.

eEnergy's growing portfolio of energy reduction solutions, complemented by its 'Buy & Build' strategy has helped diversify the Group and cultivated a large and relevant customer base to which the Group can cross-sell by delivering its end-to-end offering. The acquisitions made in FY21 have been integrated into the Group and are delivering to expectations. The UtilityTeam acquisition, the largest to date, completed in September, is being integrated by the newly established leadership team to form the consolidated Energy Management division.  This work is on track and expected to complete by the end of June 2022. Further, in FY22, the Group expects to roll out a new onsite solar generation offer and intends to add electric vehicle charging solutions that will help clients achieve energy independence and resilience as they implement net zero strategies.

The pipeline of opportunities across the Group has progressed well, in part fuelled by the resumption of industry events and the chance to actively market the Company's integrated solutions.  The Board expects that the well-documented volatility in energy markets will drive organisations to eliminate energy wastage and reduce consumption, which is expected to present multiple opportunities.

Additionally, the recent COP26 forum reaffirmed the world's commitment to a Net Zero energy transition and the Group expects increasing amounts of funding being made available by governments and financial institutions to achieve decarbonisation. The Board strongly believes that eEnergy remains very well positioned to take full advantage of the opportunities this creates."

Investor Meet Company presentation

eEnergy will host an Investor Meet Company event after the AGM today that will start at 12:00pm. Those who wish to attend the event will be required to register in advance. Please follow the link to register your attendance:

https://www.investormeetcompany.com/eenergy-group-plc/register-investor

For further information, please visit www.eenergyplc.com or contact:

eEnergy Group plc	Tel: [phone]
Harvey Sinclair, Chief Executive Officer Ric Williams, Chief Financial Officer	[e-mail]
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, Simon Hudson, 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 LED businesses; and

· Enhanced customer value proposition through data gathered and analysed with its proprietary MY ZeERO intelligent analytics platform.

eEnergy was admitted to AIM in January 2020 with a strategy to use its market leading eLight "Light as-a-Service"  business as the foundation to expand eEnergy as a broader energy services company via a 'Buy & Build' strategy. The Group has completed four transactions since admission, building a Top 5 energy management business in the UK and acquiring proprietary smart metering and analytics capability through the investment in MY ZeERO. The Board's strategy continues to be to build a broader energy services company through acquisition with a particular focus on energy efficiency related capabilities and technologies. 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.

 

END

 

 

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