eEnergy Group PLC
21 August 2026
21 August 2026
eEnergy Group plc
("eEnergy", "the Company" or "the Group")
New loan facility and extension
eEnergy (AIM: EAAS), one of the UK's leading designers and installers of Solar PV, LED lighting, battery storage and EV chargers reducing customers' energy costs by up to 70%, announces an update to its short-term financing facilities.
While the 65 Mace sites are now fully operational and energised with the Company's energy saving products (Solar PV, LED Lighting, Battery storage and EV Chargers) the Company is experiencing some short-term delays in receipt of payments of c. £3.2m in aggregate for the completed work associated with the Mace project due to outstanding completion of paperwork, principally around Solar PV. This process is being advanced and is expected to be finalised over the coming months.
To support the net working capital of the Group, the Company has agreed an extension to the repayment term of the remaining £0.5m of the February 2026 Harwood Holdco Limited secured loan ("Harwood Loan"), from 30 November 2026 to 28 February 2027. The terms of the Harwood Loan remain unchanged, with interest accruing at a rate of 1 per cent. per month, payable on repayment of the loan.
The Company has also agreed £0.5m of new funding by way of a loan from Nigel Burton, a former Director of the Company and current eEnergy shareholder ("New Loan"). The New Loan is secured with a floating charge and interest accruing at a rate of 1 per cent. per month, payable on repayment of the loan and is also repayable by 28 February 2027. A 1% arrangement fee is payable on the New Loan and Harwood has consented to the New Loan being entered into.
The New Loan is deemed to be a related party transaction under AIM Rule 13 of the AIM Rules for Companies as Nigel Buron was a Director of the Company within the previous 12 months. The Company's Directors consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
The person responsible for arranging for the release of this announcement on behalf of eEnergy is John Gahan, Interim Chief Executive Officer.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
For further information, please visit www.eenergy.com or contact:
|
eEnergy Group plc |
Tel: +44 20 7078 9564 |
|
John Gahan Interim Chief Executive Officer |
|
|
Strand Hanson Limited (Nominated Adviser) |
Tel: +44 20 7409 3494 |
|
Richard Johnson, James Harris |
|
|
Canaccord Genuity Limited (Broker) |
Tel: +44 20 7523 8000 |
|
Max Hartley, Harry Pardoe (Corporate Broking) |
|
|
|
|
About eEnergy Group plc
eEnergy (AIM: EAAS) designs and delivers energy-saving and energy-generating solutions to its customers reducing their costs and mitigating the impact of future increases in energy costs. If a customer requires a funding solution (rather than pay for its own capex), eEnergy has a third party funder that will fund the up-front cost of investment on behalf of the customer whilst still ensuring immediate cash savings for the customer and over the life of the contract.
The Group is a leading supplier to the UK's education sector and has a growing presence supplying UK's healthcare sector including the NHS and the UK's Commercial and Industrial customer base with market leading LED and Solar PV solutions alongside battery storage and EV Chargers.
Further information is contained on the eEnergy Group plc website
https://www.eenergy.com/homepage/about/
-ends-
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.