TIDMEAAS

RNS Number : 9303B

eEnergy Group PLC

07 June 2023

7 June 2023

eEnergy Group plc

("eEnergy" or "the Group")

New EUR5m 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 EUR5 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      info@eenergyplc.com ; www.eenergyplc.com 
  Officer 
  Crispin Goldsmith, Chief Financial 
  Officer 
 Singer Capital Markets (Nominated     Tel: +44 20 7496 3000 
  Adviser and Joint Broker) 
 Justin McKeegan, Asha Chotai, 
  James Maxwell (Corporate Finance) 
  Tom Salvesen (Corporate Broking) 
 Canaccord Genuity Limited (Joint      Tel: +44 20 7523 8000 
  Broker) 
 Max Hartley, Tom Diehl (Corporate 
  Broking) 
 Tavistock                             Tel: +44 207 920 3150 
 Jos Simson, Heather Armstrong,        eEnergy@tavistock.co.uk 
  Katie Hopkins

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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