eEnergy Group, an Energy Efficiency-as-a-Service (EEaaS) business, has conditionally agreed to acquire Beond Group, a renewable energy consulting and procurement business that helps organisations source zero carbon energy contracts at the most competitive prices.
Beond, based in West London, helps its clients to transition to the lowest cost zero carbon energy available in the market. Working with small businesses to large corporates and public sector organisations it runs competitive reverse auctions through its proprietary technology. This ensures that its clients have access to the lowest prices across the market while achieving their net zero energy ambitions. It offers a Risk Managed service for clients that wish to have access to the energy wholesale markets and implements hedging strategies to help protect against rising market prices.
CEO of Beond, Derek Myers, is expected to join the Board of eEnergy on completion of the acquisition, which marks the latest step in eEnergy’s strategy to broaden its portfolio of energy services by acquiring complementary energy management businesses which provide strategic growth opportunities.
eEnergy, listed on AIM, is the parent company of eLight and RSL, which help businesses and schools switch to energy-efficient LED lighting for a fixed monthly service fee, avoiding any upfront payments. For customers, the energy savings are greater than the monthly service fee, allowing them to unlock free cash-flow from day one while improving the quality of their lighting and reduce carbon emissions. The customer has no risk as the LED lighting is procured, funded, installed and maintained for them.
Harvey Sinclair, CEO of eEnergy, commented, “The acquisition of Beond is the next step in our journey to delivering a sustainable future for our clients. Beond is a climate action business that uses its award-winning technology to secure the lowest cost zero carbon energy supply for its customers – truly the leanest and greenest energy available.
“Beond’s customer base is highly complementary to our own and our expanded range of services should bring significant benefits to both sets of clients looking to achieve a zero carbon future. I would like to welcome Derek and the Beond team to the eEnergy family.”