eEnergy Group Share News (EAAS)

(Alliance News) - eEnergy Group PLC on Monday said its subsidiary eLight UK inked a contract to install LED lighting at a handful UK schools, amounting to the company's biggest ever single contract.

eEnergy is a London-based company that offers energy efficiency as a service.

eEnergy said the GBP1 million contract will see eLight install lighting at four schools for an unnammed "UK multi-academy trust".

The revenue will be recognised as the projects are installed, the company said, which is expected to be completed by December 31.

eEnergy Chief Executive Harvey Sinclair said: "We are delighted to have secured our largest contract win to date. In addition to the strong momentum experienced in the first quarter, this new contract further underpins the board's revenue expectations for the full year to June 30, 2021 and reinforces our position as the leading provider to the UK education sector. Given their low level of conversion to LED lighting, schools continue to represent a substantial growth opportunity for eEnergy."

eEnergy shares were up 7.8% at 10.40 pence each in London on Monday morning.

By Greg Roxburgh; gregroxburgh@alliancenews.com

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