REG - eEnergy Group PLC - AGM Statement

EenergyAnnouncement

19/11/2021 07:00

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

 

For further information, please visit www.eenergyplc.com
(http://www.eenergyplc.com) or contact:

 

 eEnergy Group plc                                              Tel: +44 20 7078 9564
 Harvey Sinclair, Chief Executive Officer                       info@eenergyplc.com (mailto:info@eenergyplc.com)

 Ric Williams, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Joint Broker)    Tel: +44 20 7496 3000
 Justin McKeegan, Mark Taylor, Asha Chotai (Corporate Finance)

 Tom Salvesen (Corporate Broking)

 Turner Pope Investments (Joint Broker)                         Tel: +44 20 3657 0050
 Andy Thacker, James Pope                                       info@turnerpope.com (mailto:info@turnerpope.com)

 Tavistock                                                      Tel: +44 207 920 3150
 Jos Simson, Simon Hudson, Katie Hopkins                        eEnergy@tavistock.co.uk (mailto:eEnergy@tavistock.co.uk)

 

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.

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