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Second Tranche of Placement Completed

- Second tranche of $5 million placement completed today

- Funds to be used to accelerate and develop MPower’s Build Own Operate strategy



Sydney – 28 April 2021 – MPower Group Limited (ASX: MPR)



MPower, Australia’s leading specialist renewable energy, battery storage and microgrid business, is pleased to advise that it has successfully completed the second tranche of its $5 million placement following shareholder approval being obtained at a recent Extraordinary General Meeting.


As previously announced, MPower received binding commitments to raise $5 million (before costs) in new capital to accelerate and develop the company’s Build Own Operate strategy and for working capital purposes.


The Company has issued a total of approximately 58.8 million shares at $0.085 per share in two tranches to a range of sophisticated and institutional investors, including an ESG focused institutional fund.



Ends


Contact

For further information, please contact:


Nathan Wise

Chief Executive Officer

(02) 8788 4600


Ben Jarvis

Six Degrees Investor Relations

0413 150 448


This announcement has been authorised by Nathan Wise, Chief Executive Officer.


About MPower

MPower Group Limited (ASX: MPR) is a technology-led company with a long history specialising in the delivery of reliable on-grid and off-grid power solutions for blue chip corporate and government customers. Headquartered in Sydney, MPower's team of professionals has successfully delivered turn-key solar, battery storage and micro grid projects across the region.