LONDON (ShareCast) - (Sharecast News) - eEnergy Group announced a strategic partnership with US-based energy-as-a-service provider Redaptive on Friday, to fund up to £100m worth of Redaptive-approved energy projects across the UK.
Under the agreement, eEnergy said it would manage operational delivery and assume responsibility for all warranty and service obligations, while Redaptive would provide full project financing.

The AIM-traded firm said the deal would establish it as a key delivery partner for Redaptive's UK initiatives.

It expected the partnership to accelerate Redaptive's expansion into the UK market by leveraging eEnergy's expertise in large-scale LED and solar installations.

eEnergy said it would also have the opportunity to deliver Redaptive customer projects across Europe, generating incremental business.

Unlike eEnergy's existing NatWest facility, which was limited to public sector clients, the Redaptive arrangement would enable a unified funding approach across both public and private sectors.

A further advantage for eEnergy was that projects under the partnership would be fully funded, allowing it to receive 100% of net revenue in cash on completion and significantly enhance cash flow.

"This is a game-changing partnership; Redaptive's decision to provide up to £100m unlocks a massive growth opportunity for eEnergy, giving us the firepower to deliver more funded decarbonisation projects, faster, and across every sector," said chief executive officer Harvey Sinclair.

"As their 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."

At 1204 BST, shares in eEnergy Group were up 25.86% at 6.23p.

Reporting by Josh White for Sharecast.com.

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