IPO Watch: Energy efficiency software company EP&T Global listed on the ASX today; shares edge 10pc higher
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Today the ASX welcomed EP&T Global (ASX:EPX), the latest company trying to help with energy efficiency.
EP&T Global has software products that help building owners and operators achieve savings from both cost and carbon footprint perspectives.
The company was founded back in 1993 and claims to have achieved an average reduction in CO2 emissions and energy costs of 23 per cent for its clients.
EP&T Global raised $11 million at 20 cents per ASX share. Shares opened slightly upward and have remained steady since – as at 2pm (AEST) shares were trading at 22 cents, representing a 10 per cent premium.
The company is not alone on the ASX; Bill Identity (ASX:BID) has been in this trade too, although it has broadened its focus on expense management generally.
Stockhead spoke with CEO Trent Knox yesterday afternoon and he said the key difference was being customer-centric.
“We don’t have a one size fits all which can hinder what an asset owner would be chasing,” he said.
“I think our competitors work in just one area whereas we go across multiple areas for asset owners and establish best outcomes based on what their needs are.”
Knox told Stockhead COVID-19 was a positive for his company.
“For all that is bad from COVID, I think what has been established is a push by asset owners to have a look at their assets and find efficiencies in these assets from cost and tenant perspective and offer the most desirable spaces for their tenants in the commercial areas,” he explained.
“The whole COVID thing has accelerated people’s feelings about what is next and what’s happening is with all of the sustainability targets put in place globally we’re becoming what we are doing, and how we do it is more relevant than ever before.”
Knox said company’s key markets are Australia, Hong Kong, Dubai and the UK but hopes to use its IPO proceeds to enter new markets in North America and Europe.
“We’ll drive into markets where we see customers reaching out for solutions like ours and we feel we can accelerate our growth,” Knox said.