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 Crispin Goldsmith, Chief Financial Officer
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| 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)
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| Canaccord Genuity Limited (Joint Broker) | Tel: +44 20 7523 8000 |
| Max Hartley, Tom Diehl (Corporate Broking)
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| Tavistock | Tel: +44 207 920 3150 |
| Jos Simson, Heather Armstrong, Katie Hopkins
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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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