23rd Feb 2026 11:49
(Alliance News) - eEnergy Group PLC on Monday said it has secured a GBP1.0 million loan to help deliver its pipeline of tender opportunities.
The London-based net zero energy services provider said it has agreed the loan from Harwood Holdco Ltd. It is secured with a floating charge over the firm's assets.
The loan is repayable on or before the end of July. Interest accrues at 1% per month, while an arrangement fee of GBP20,0000 will be incurred on drawdown.
eEnergy said work with construction firm Mace Group Ltd on a solar and battery installation project for UK schools is carrying on at pace.
The company said it has secured the loan in support of Mace as well as its growing pipeline of large-scale tenders.
Cash at the end of 2025 was GBP900,000, down from GBP2.3 million a year prior. It expects cash to increase significantly by the end of the first half of 2026.
"As eEnergy continues to transition towards larger, longer-duration contracts, the associated working capital requirements are materially greater than under its traditional direct sales model. The loan strengthens the company's balance sheet and enhances financial flexibility, ensuring it is well positioned to manage near term peak net working capital demands as these contracts mobilise and scale," eEnergy said.
The firm added that it remains on track to deliver first half revenue of around GBP20.0 million, almost double GBP10.1 million a year prior.
Shares in eEnergy fell 8.6% to 5.72 pence on Monday morning in London.
By Michael Hennessey, Alliance News reporter
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