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LPE energised on growth

8 December 2022 12:38
ASX: LPE

Locality Planning Energy have secured a ten-million-dollar credit facility from funding partner Roadnight capital as it continues to grow its core embedded network customer base.

It is expected to result in exceeding a current revenue guidance already slated as $40 million for the 2023 financial year.

Margins could also expand in future years after deployment in FY2023, with the capital works opening the ability upgrade strata communities’ power systems, lock in long-term supply contracts and leverage the acceleration of both its strata business and vertically integrated renewable assets.

It carries on from a transformative restructuring which reversed an outflow of over $3 million to now have LPE holding a high-value embedded network business with a shared solar offering receiving enormous levels of enquiries.

And LPE remain holding onto another incredible growth opportunity in the renewable generating BioHub.

The company said the move will deliver enhanced ability to grow its core embedded customer network beyond the 28 thousand high value customers it has already acquired.

“More strategically, the Board believes this is an opportune time to consolidate LPE’s position as one of the largest and most well-known strata service providers in Queensland, through acquisition of existing retailers servicing embedded network customers or similar businesses such as billing agents,” chairman Justin Pettett said.

LPE’s Australian Stock Exchange-listed share price has risen 5.26 per cent today, currently trading at 5.9c (12.37 pm UTC+ 8 hours).

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