Luceco PLC Investment in eEnergy Group PLC (7101S)
08 Novembro 2023 - 4:00AM
UK Regulatory
TIDMLUCE TIDMEAAS
RNS Number : 7101S
Luceco PLC
08 November 2023
08 November 2023
LUCECO PLC - INVESTMENT IN eENERGY GROUP PLC
Luceco plc ("Luceco" or the "Company"), the supplier of wiring
accessories, EV chargers, LED lighting, and portable power
products, today announces its subscription for 35 million new
ordinary shares in eEnergy Group PLC ("eEnergy") for GBP1.75m (the
"Subscription").
Luceco has achieved strong growth from the drive towards energy
efficiency and decarbonisation through its LED lighting and
electric vehicle ("EV") charger categories. The continuing trend
towards clean energy technologies offers an opportunity for Luceco
to expand its offering into developing categories. eEnergy is an
important customer of Luceco's LED lighting division and is well
positioned to become an increasingly important channel for clean
energy categories in the non-residential sector.
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. eEnergy operates through two divisions: Energy
Services and Energy Management. eEnergy announced today that,
following the receipt of a number of approaches, it is currently in
exclusive negotiations to sell its Energy Management division.
eEnergy's Energy Services division ("Energy Services") provides
organisations with energy efficiency, renewable generation and EV
charging solutions, frequently partnering with Luceco as its
technology provider. In the 12 months ended 30 June 2023 Energy
Services achieved revenue of GBP19.5m, representing 87% year on
year growth.
Luceco has subscribed for 35,078,000 new ordinary shares in
eEnergy at a price of 5p per share, representing a total investment
of GBP1,753,900 for approximately 9% of the enlarged issued share
capital of eEnergy. Luceco will have the right to nominate a board
member.
Completion of the Subscription is subject to admission of the
subscription shares to trading on AIM.
John Hornby, Chief Executive Officer of Luceco commented:
"Energy efficiency has been an important driver of growth for
Luceco through our LED lighting category. More recently we have
invested in EV charging because we anticipate that this, and the
clean energy category more generally, will be an important growth
area.
eEnergy's Energy Services division is already an important
customer for our lighting projects business . As the economy
decarbonises it is well positioned to become an increasingly
relevant channel in the non-residential segment, and we look
forward to supporting the growth of eEnergy and exploring the
potential for increased co-operation between our businesses."
Luceco plc Contact
============================= =======================
John Hornby, Chief Executive 020 3128 8276 (Via MHP)
Officer
Will Hoy, Chief Financial 020 3128 8276 (Via MHP)
Officer
MHP Contact
============================= =======================
Tim Rowntree 020 3128 8100
Ollie Hoare 020 3128 8100
Note to Editors
Luceco plc - Bringing Power To Life
Luceco plc (LSE:LUCE) is a supplier of wiring accessories, EV
chargers, LED lighting, and portable power products.
For more information, please visit www.lucecoplc.com .
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END
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