eEnergy Group plc (LSE:EAAS) has launched a conditional placing and subscription to raise £6.3 million, alongside a retail offer of up to £2 million.
The shares under the fundraising are being offered at 0.3 pence each, potentially raising gross proceeds of up to £8.3 million if the retail offer is fully subscribed.
The company said the proceeds will be used to address short-term working capital requirements, bring payments to overdue creditors up to date and provide funding for growth.
eEnergy is also working to resolve project documentation matters associated with its Department for Education programme. The company said completion of this process is required for it to collect £2.8 million of outstanding cash relating to the programme.
For the 2026 financial year, eEnergy said it expects to meet market forecasts of approximately £32 million in revenue and £1.7 million in adjusted EBITDA.
The company reported record first-half revenue of £21.8 million and has completed a restructuring programme that it expects to generate annual cost savings of £2 million.
Looking ahead to FY27, the board expects revenue of more than £25 million and adjusted EBITDA of approximately £2.5 million. These figures represent company guidance rather than established results.
eEnergy said its outlook is supported by a sales pipeline of £65 million and its reduced cost base. The company also identified potential additional business from further Department for Education retrofit and renewal projects, although this work has not been secured.
About eEnergy Group
eEnergy Group is an AIM-listed net zero energy services provider offering solar photovoltaic systems, battery storage, electric vehicle chargers and LED lighting solutions.
The company serves customers across the education, healthcare, commercial, industrial and wider public sectors.
Its project portfolio includes work under the Department for Education programme managed by Mace, which the company describes as its largest contract to date.
Leave a Reply