Contract Win

RNS Number : 8159J

eEnergy Group PLC

26 August 2021

 

26 August 2021

eEnergy Group plc

("eEnergy" or "the Group")

First Contract Win for Solar plus LED

eEnergy (AIM: EAAS), a leading Energy Efficiency-as-a-Service business in the UK and Ireland, is pleased to announce the Group's first contract win to provide solar power together with LED lighting in a single contract.

The contract is with British Gaskets Limited ("British Gaskets"), a UK based international manufacturer and supplier of gaskets, seals, plastic and rubber mouldings and materials.  The initial, single site contract covers a solar power system, together with LED lighting, with a contract value of approximately £0.4m.

Over the 20 year lifetime of the system, the Board anticipates a total customer cost saving, at today's prices, of almost £1.4m and a reduction of CO2 emissions of approximately 576,000 tonnes.

The Board continues to expect trading for the year ended 30 June 2022 to be in-line with current market expectations.

Harvey Sinclair, Group CEO, commented "This contract represents a major milestone for the Group as we begin to offer joined-up energy-as-a-service solutions to customers.  Our offer is being well received by the market and this blueprint for material energy and cost savings, coupled with significant decarbonisation is compelling for customers and the environment. This contract gives us the confidence that we're on track to deliver results for FY22 in-line with current market expectations."

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 Ric Williams, Chief Financial Officer.  

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 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/  

 

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