GO energy Group announces Key Energy Storage Agreement

Clean tech energy company GO energy Group Limited (ASX: GOE) (GO energy, the Company) is pleased to announce that Redback Technologies Limited has entered in to an exclusive Distribution Agreement with L&H Group for the distribution of Redback’s Energy Storage Solution.

Highlights

    GO energy advises that Redback Technologies has entered in to an exclusive Distribution Agreement with L&H Group for the distribution of Redback’s Energy Storage Solution.
    Last month GO energy announced its intention to acquire up to 20% of Redback Technologies, an emerging energy storage business - subject to shareholder approval.
    Under the Agreement L&H Group will exclusively distribute Redback’s innovative energy storage products in Australia and New Zealand.
    It is anticipated 28,000 Redback Smart Hybrid inverter energy storage units will be sold in the initial three year term of the agreement and first orders under the agreement have been placed.
    L&H Group is part of the global Sonepar group of companies and is Australia’s largest electrical B2B distributor – with 30,000 customers.
    GO energy has a Strategic Alliance with L&H Group for L&H to market and sell GO energy’s energy and solar products and services.

GO energy Group CEO Adam Pearse said:

“We are delighted to see that this key Distribution Agreement has been executed. One of our core focuses is to be at the forefront of the development of the Energy Storage sector. The Agreement between Redback and L&H will rapidly expand the footprint of Redback’s innovative energy storage products utilising L&H’s vast distribution capabilities. Redback and L&H are both key strategic partners for GO energy Group, and we are excited to see the benefits of this Agreement unfold over the coming years.”

About GO energy

GO energy Group Limited (ASX: GOE) is an independent, ASX-listed clean tech energy retailer and financier. Holding energy retail licenses in New South Wales, Victoria and Queensland, GO energy provides business customers with an innovative approach to reduce energy costs through a combination of solar based power purchase agreements, energy efficiency products and grid energy solutions.