Launch of eCharge

RNS Number : 4729G

eEnergy Group PLC

30 March 2022

 

30 March 2022

eEnergy Group plc

("eEnergy" or "the Group")

Launch of eCharge

· Exclusive partnership signed with EO Charging to create the UK's largest public sector charging network, launched via new "eCharge" brand

· eEnergy already provides energy-saving technologies to over 600 schools and 2,000 other workplaces across the UK.

eEnergy (AIM:EAAS), the digital energy services company, is pleased to announce that it has signed an exclusive partnership agreement ("Partnership Agreement") with EO Charging ("EO"), the trading name for Juuce Ltd, the electrical vehicle ("EV") technology solutions provider, with the potential to install at least 50,000 EV chargers by 2030 as part of its commitment to create the UK's largest public sector charging network through the launch of its new service "eCharge".

The Partnership Agreement commits the parties to work together to introduce and develop EV charging opportunities within the education sector, with EO (as equipment supplier) and eEnergy (as project charge point operator), on a mutually exclusive basis with intentions to strengthen the relationship through customer cross-referrals.

eCharge provides customers with funded charging solutions and can be paired with clean energy procurement and energy-saving solutions, including LED lighting upgrades, to enable schools, colleges, hospitals, councils, and other businesses to protect themselves against rising energy bills. eEnergy will install chargers (manufactured by EO) with a focus on the public sector, making a significant contribution towards the Government's 2030 target of 145,000 extra charge points in the UK, to coincide with the ban on new Internal Combustion Engine vehicles.

eEnergy is already an established energy-saving partner in the education and public sector, providing energy efficiency services to over 600 schools and 2,000 other workplaces across the UK and making eCharge a logical extension to our overall service provision.  In addition, eEnergy has 12,153 meters under management across the wider public sector including the NHS, emergency services and housing associations, all of which will be target cross-sell customers for eCharge.

There are approximately 32,000 schools, colleges, and universities, and more than 600,000 teachers in the UK. When combined with the 225,000 staff and 2.66 million students currently at UK higher education institutions, the education sector represents a significant underserved market to help accelerate the UK's transition to low carbon transport.

By providing EV charging in conjunction with clean energy procurement, energy management, and high-impact energy efficiency solutions, eCharge will make EV charging accessible for thousands of drivers and organisations struggling with the energy price crisis with no requirement for upfront investment.

eCharge will be led by Neil Campbell, who joins as Managing Director from his previous role as Managing Director at MoneyExpert, one of the UK's leading price comparison sites.

Harvey Sinclair, CEO of eEnergy commented: "The government has rightly set ambitious net zero targets, and EVs will play a fundamental role in this strategy. However, ensuring everyone has access to reliable charging, especially for those who cannot plug in at home, poses considerable challenges. Like many employers, schools face a growing demand for EV chargers just as energy costs reach record highs. Our ambitious rollout will make life easier for teachers and other drivers by offering an affordable and accessible alternative and gives eEnergy an exciting new product category in a high growth market. 

"By pairing workplace chargers with energy-saving technologies and clean energy procurement, everything from lighting to commuting can be powered using 100% fossil-free energy, cutting energy costs, and creating new revenue opportunities for the public sector.

"EO is our partner of choice for providing this service, having already seen success with customers such as Amazon. It is important for us to maintain and manage our own carbon footprint as a company, and with EO based in the UK, it supports our commitment keeping these levels to a minimum."

Charlie Jardine, Founder and CEO, of EO Charging commented: "Our partnership with eEnergy ensures this critical net zero infrastructure can be widely adopted by the public sector as well as businesses, making EVs accessible to more people throughout the UK. Together, we have built a compelling solution for those who are looking to install EV chargers as part of their broader net zero strategy."

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 (Financial PR and IR)	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/  

 

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