UK and Ireland-based "Energy Efficiency-as-a-Service" business, eEnergy Group (AIM:EAAS) , announced today its first expansion into Northern Ireland, adding to its presence in Dublin and London.
The AIM-listed group also told investors on Thursday that it had won a new partnership with Irish smart energy supplier, Pinergy in the Republic of Ireland.
The group sees the partnership as creating ‘a significant new sales channel’ for eLight, which will provide a LaaS product to Pinergy's business customers.
eLight provides "Light-as-a-Service" (LaaS) to businesses and schools to help them switch to LED lighting for a fixed monthly service fee and avoiding any upfront payments.
eLight said has already delivered lighting solutions for a number of Pinergy clients and the partnership is expected to improve eLight's development pipeline.
Shares in eEnergy Group were trading -0.81% lower at 6.1p during Thursday trading.
The board of the company has said it sees potential growth in Northern Ireland where it believes the energy efficient lighting market is underdeveloped, particularly in the education sector where schools tend to be larger than in the Republic of Ireland.
“We see considerable opportunity in an underdeveloped market in terms of LaaS and one that that has the potential for much larger contract values,” said Harvey Sinclair, CEO of eEnergy Group.
He added, "As well as geographic expansion, we are focused on building partnerships with companies which create opportunities to increase our routes to market without growing our cost base.
The new sales team is in ongoing advanced discussions with a number of educational bodies in Northern Ireland this morning’s statement highlighted.
Through its eLight subsidiary, the group has been operating in Ireland since 2013 and has already completed over 900 lighting upgrades in the commercial business sector.
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