Thomson Geer advises Allume Energy on A$10.4M capital raising and investment led by UK energy firm E.ON

Thomson Geer has advised Australian solar energy sharing technology company Allume Energy on a A$10.4 million capital raising and investment in the company led by UK clean energy firm E.ON.

Allume is the developer of SolShare - the world’s first and only technology that directly connects multiple properties to a single rooftop solar system, enabling people living in flats, units or apartments the ability to access solar power to lower their energy bills.

The capital raising was led by E.ON, which injected A$8.3 million. The raise will help Allume to roll out SolShare in the UK and elsewhere.

SolShare enables apartment residents to access a fair share of power generated by solar panels on their building's roof.

Thomson Geer advised Allume on all stages of the capital raise, from preparing and managing the member communications and notices, to negotiating subscription agreements, facilitating shareholder approvals, and completing the issuance of shares.

The firm also advised Allume on the commercial framework underpinning its future collaborations with E.ON UK.

The Thomson Geer team was led by Special Counsel Shaun Restorick-Barton, who said: "We are excited to have been able to work with Allume on this significant investment in the firm that positions it for further international expansion. It is also exciting to see Allume's unique technology reaching people who may not have been able to take part in the clean energy transition."

Allume CEO and Co-Founder Cameron Knox said: "Shaun led the legals of our recent capital raise from start to finish, adding clarity to the process that at times was highly complex. The deal involved intertwined commercial and investment documents, as well as stakeholders on both sides with differing priorities and opinions. Shaun was able to help us to navigate this effectively, reaching a timely close with a transformational outcome for our business."

Shaun was supported by Partners Matthew Reynolds and Katrina Chambers (IP) and Lawyers Will Lyons and Lachlan Ball.

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