Skip to content

A New Chapter in eEnergy’s Journey: Embracing the Future of Energy Services


Strategic Pivot to Energy Services with an Uninterrupted Service During Transition.

As eEnergy embarks on a transformative journey with the sale of our Energy Management Division to Flogas Britain Limited, part of the DCC Group, we want to assure all stakeholders that there will be no immediate change in our day-to-day operations. Both eEnergy and Flogas are committed to ensuring a smooth and seamless transition. Leveraging the strong relationships and expertise of eEnergy’s Energy Services and Energy Management teams, we aim to maintain the high standard of service and support our clients are accustomed to. This collaborative effort will ensure continuity while we work towards integrating and enhancing our operations.

Growing and Strengthening Energy Services.

Our Energy Services Division remains a cornerstone of our growth strategy. We are dedicated to expanding and strengthening this division, bolstered by robust R&D in energy efficiency and Energy as a Service offerings. Our commitment to these areas is unwavering, as we aim to build a stronger customer service framework that aligns with the evolving needs of our clients.

Focused on a Sustainable Future.

eEnergy is not just changing; we are making a dynamic leap forward towards a sustainable future. With a clear vision to make Net Zero both achievable and profitable for all organisations, our strategic pivot to Energy Services marks a significant milestone in our journey. Our partnership with Flogas will bring about a comprehensive and seamless path to Net Zero for our customers, combining our strengths to deliver resilient and innovative energy solutions.

As we navigate through this pivotal phase, our focus on customer satisfaction, innovation, and sustainable practices remains stronger than ever. We are excited to lead the charge in the energy sector, fostering a future where renewable energy is not just a choice, but a norm. Learn more about the sale here.


eEnergy Announces Sale of Its Energy Management Division to Flogas

London, 22nd January 2024: eEnergy (AIM: EAAS), a front-runner in digital energy services and a champion of Net Zero, is pleased to announce the sale of its Energy Management Division to Flogas Britain Limited, a DCC Group company (subject to shareholder approval). This strategic decision involves an initial £29.1 million consideration, supplemented by additional contingent considerations tied to the division’s performance until 30 September 2025.

Transaction Highlights.

  • Initial Consideration: £29.1 million, including £25.0 million in cash and £4.1 million to settle internal debts.
  • Payment Schedule: Payment due upon completion, following eEnergy shareholder approval at the upcoming General Meeting on 7 February 2024.
  • Enterprise Value: The initial consideration reflects an enterprise value of £30 million, post-adjustments for net debt and working capital.
  • Additional Contingent Consideration: Estimated between £8 million to £10 million, dependent on the division’s performance during the Earnout Period, concluding on 30 September 2025.
  • Use of Proceeds: The proceeds will be allocated to fully clear the Group’s £8.1 million debt, reinvest in the rapidly growing energy services division, and cater to general working capital needs.

Strategic Benefits.

  • Immediate Return: This transaction signifies an immediate return on the £23.4 million investment in the Energy Management Division since December 2020, with the potential for additional returns during the Earnout Period.
  • Focus on Growth: The sale enables eEnergy to focus on its Energy Services business, particularly in the EV and Solar sectors, and explore further high-growth opportunities.
  • Strengthened Financial Position: This move will alleviate cash constraints, fostering more robust growth opportunities.

Comments from Leadership.

Harvey Sinclair, eEnergy CEO, comments: “I am pleased to announce this agreement to sell our Energy Management Division to Flogas. Once approved by Shareholders, the Transaction will unlock significant immediate cash for eEnergy and give the opportunity to deliver significant additional value to shareholders through the Earnout Period. Whilst Energy Management is the smaller by revenue of our two divisions, the initial transaction proceeds alone will be c. 90% of eEnergy’s current market capitalisation.”

“The sale of the Energy Management Division will allow us to focus entirely on our similar sized, high growth Energy Services Division which grew 87% in the past 12 month period despite being undercapitalised. The sale will simplify our business, strengthen our balance sheet and will bring the opportunity to invest further in the higher growth segments of Solar and EV Charging across the UK.”

“I would like to thank our colleagues in the Energy Management Division. They will have an excellent new owner in Flogas who is in an ideal position to take the business forward.”

Ivan Trevor, Managing Director, Flogas Britain comments: “Flogas are delighted to welcome the Energy Management Division of eEnergy Group plc to DCC Energy. Together with Certas and the recent acquisitions of Protech, Centreco and DTGen, this acquisition further expands our capability in energy management services, providing a comprehensive range of products and services to partner with our customers on their journey to Net Zero and supporting our ambition to halve the carbon emissions of the energy we supply by 2030.”


Learn more


The future of energy is in your hands. Let’s take the first step