REG - eEnergy Group PLC - New EUR 5m Funding Facility with Solas Capital

EenergyAnnouncement

07/06/2023 07:00

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RNS Number : 9303B  eEnergy Group PLC  07 June 2023

7 June 2023

 

eEnergy Group plc

("eEnergy" or "the Group")

 

New €5m Funding Facility with Solas Capital

 

eEnergy (AIM: EAAS), the net zero energy services provider, is pleased to
announce that the Group has entered into a new €5 million two-year project
funding facility (the "Facility") with Solas Capital to finance LED lighting
projects in Ireland.

This facility replaces previous project funding arrangements in Ireland and
gives greater certainty on funding eligible lighting projects at similar costs
of capital.

Solas Capital is a specialist investment advisory firm founded and managed by
professionals from the energy efficiency financing sector. The Facility is
being provided through the Solas Sustainable Energy Fund, which is supported
by the European Investment Bank, the Ireland Strategic Investment Fund, and
the LIFE-programme of the European Commission.

Paul Kearney, Partner at Solas Capital AG says: "We're delighted to work with
eEnergy to enable a financing solution for their portfolio of energy efficient
lighting projects in Ireland. This partnership will deliver energy savings
both in the public and commercial sectors. We believe that eEnergy's strong
track record in delivering EaaS, and in particular their expertise in
LED-lighting installations in the education sector, establishes them as a
leader in the market."

Harvey Sinclair, CEO of eEnergy, commented: "I am delighted that we have
secured this funding with an exciting new partner. Solas' mission to support
the move to a carbon neutral society goes hand in hand with our mission to
help customers moving towards Net Zero and beyond. The New Facility is a
reflection of Solas' confidence in eEnergy's recent performance and also a
firm commitment to our continued growth and strategic direction."

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: +44 20 7078 9564
 Harvey Sinclair, Chief Executive Officer                         info@eenergyplc.com (mailto:info@eenergyplc.com)   ;  www.eenergyplc.com

                                                                (http://www.eenergyplc.com/)
 Crispin Goldsmith, Chief Financial Officer

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

 Tom Salvesen (Corporate Broking)

 Canaccord Genuity Limited (Joint Broker)                         Tel: +44 20 7523 8000
 Max Hartley, Tom Diehl (Corporate Broking)

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

 

About eEnergy Group plc

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering
organisations to achieve net zero by tackling energy waste and transitioning
to clean energy, without the need for upfront investment. It is making net
zero possible and profitable for all organisations in four ways:

 ·             Transition to the lowest cost clean energy through the Group's digital
               procurement platform and energy management services. 
 ·             Tackle energy waste with granular data and insight on energy use and dynamic
               energy management. 
 ·             Reduce energy use with the right energy efficiency solutions without upfront
               cost. 
 ·             Reach net zero with onsite renewable generation and electric vehicle (EV)
               charging.

 

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy
Mark by London Stock Exchange.

About Solas Capital

Solas Capital is a specialist investment advisory firm founded and managed by
professionals from the energy efficiency financing sector. Through the
development of innovative financing solutions Solas Capital's mission is to
support the move to a carbon neutral society. By understanding both the
funding needs of energy efficiency and self-consumption PV infrastructure
projects, and the requirements of institutional investors, Solas Capital
bridges the gap between investors and projects.

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