eEnergy PLC (AIM:EAAS) shares soared after it inked a £100 million funding partnership deal with Redaptive, an American ‘Energy-as-a-Service’ and data solutions firm.
It will enable investments in Redaptive-approved projects in the UK, with eEnergy overseeing delivery and service obligations.
Redaptive clients include large commercial brands in the US and UK.
Harvey Sinclair, eEnergy chief executive, described it as “a game-changing partnership” and said that the deal “unlocks a massive growth opportunity”. It gives eEnergy the financial firepower to deliver more decarbonisation projects, faster, and across every sector, Sinclair highlighted.
“As their [Redaptive’s] lead UK delivery partner, we're not just accessing capital - we're joining forces with a global player to deliver scale. This enables us to accelerate our mission, remove financial barriers, and bring clean energy solutions to more organisations on their path to Net Zero than ever before,” Sinclair said.
eEnergy noted that it will retain its existing borrowing facility with NatWest, which is restricted to solely public sector projects.
In London, eEnergy shares soared around 40% in Friday’s early deals to change hands at 6.85p each.