Energy Action
| Public | |
| Traded as | ASX: EAX |
| ISIN | 🆔 |
| Industry | Information Technology |
| Founded 📆 | 2001 |
| Founder 👔 | |
| Headquarters 🏙️ | , Parramatta , Australia |
Area served 🗺️ | Australia |
Key people | John Huggart, CEO |
| Products 📟 | Energy Management software |
| Revenue🤑 | $17 million |
| Members | |
Number of employees | 100 |
| 🌐 Website | energyaction |
| 📇 Address | |
| 📞 telephone | |
Energy Action is an Australian energy management technology company that provides energy broker and energy management software software and services to small to medium businesses. Energy Action is listed on the Australian Securities Exchange.[1]. Energy Action was Australia's first energy broker to use a reverse auction to help customers contract with electricity retailers[2].
History[edit]
Energy Action was founded in February 2003 following a management buy-out of the previous Energy Auctions business which had been started in March 2000. The business listed on the Australian Securities Exchange in 2011[3],[4],[5]
Acquisitions[edit]
After listing on the ASX, Energy Action attempted to grow revenue by acquisitions. Businesses bought by Energy Action included:
| Acquisition date | Company | Business | Valuation millions AUD |
|---|---|---|---|
| Jun 30, 2012 | Ward Consulting[6],[7] |
Energy consultancy | 4.15 |
| Apr 13, 2014 | Exergy[8],[9] |
Energy efficiency and sustainability engineering consultancy | 4.0 |
| Aug 19, 2014 | Energy Advice[10] |
Energy consultancy | 12.568 |
These acquisitions did not lead to profit growth but rather increased company debt and reduced profit margin[11],[12]. In FY 2020 the company impaired the remaining $9.9m acquisition goodwill to nil value[13].
Technology[edit]
In 2020 the company announced the appointment of a new Chief Technology Officer and a pivot to building energy management software[14],[15]
Services[edit]
Energy Action offers four services:
- Energy Buying: Energy reverse auction, Request for Proposal, Progressive Purchases, Solar auctions[16]. Energy Action provides market commentary[17],[18] and holds an Australian Financial Services Licence
- Energy Management: providing automated energy invoice collection and translation to standard data formats to provide energy accounting services of reporting and spend reduction[19]
- Net Zero Support: helping business achieve Net Zero or carbon neutrality
- Embedded Network Management: providing set-up project management and on-going billing services to embedded network operators[20]
References[edit]
- ↑ "Share Price & Information". ASX.
- ↑ "Original website from 2003". Wayback Machine.
- ↑ "Switched-on energy saver to list". Australian Financial Review.
- ↑ "The value of liquidity as a growth strategy". Smart Company.
- ↑ "Energy Action Prospectus". ASX.
- ↑ "Is Energy Action a powerful investment?". Nine News.
- ↑ "Energy Action Acquires Ward Consulting". ASX.
- ↑ "Energy Action acquires Exergy as business booms". Fifth Estate.
- ↑ "Acquisition of Leading Energy Management Consultancy Company". ASX.
- ↑ "Energy Action acquires leading energy consultancy business Energy Advice". ASX.
- ↑ "Ethical Equities". Ethical Equities.
- ↑ "New energy needed at Energy Action". Eureka Report.
- ↑ "FY 2020 Annual Report, Page 8". ASX.
- ↑ "Microsoft News". Microsoft.
- ↑ "Appointment of Chief Technology Officer". ASX.
- ↑ "Energy Action launches commercial solar auction model as boom heats up". The Fifth Estate. 2020-10-01.
- ↑ "'Grid's in good shape': experts optimistic on power summer supply". Sydney Morning Herald. 2019-02-11.
- ↑ "Morrison win sparks sharp lift in wholesale electricity prices". Sydney Morning Herald. 2019-05-09.
- ↑ "Energy Action launches mobile energy monitoring app in Australian first for businesses". RenewEconomy. 2017-05-04.
- ↑ "AER embedded network definition". AER.
External links[edit]
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