Locality Planning Energy Holdings Limited (LPE) has entered a strategic financing partnership with global asset management company BlackRock, which is the first investment of any BlackRock fund in Australia of this type in seven years.
LPE’s services include the implementation and supply of embedded networks, competitive direct market rates, a unique solar offering and various utility billing services.
BlackRock is trusted to manage more money than any other investment manager in the world and currently has $US6.3 trillion worth of assets under management.
LPE CEO, Damein Glanville, said, “We are very proud that our team have demonstrated the systems, processes, growth trajectory and vision to attract such a strong, globally recognized, funding partner.
“The big winners in this alliance with BlackRock are our customers as this funding will enable LPE to remain at the forefront of product innovation delivering our goal to save the most amount of money for the most amount of people on their electricity costs.”
LPE began as a start-up on the Sunshine Coast, Queensland in 2012 and was listed on the ASX just four years later in 2016. LPE have rapidly gained market share by providing innovative solutions to an underserviced sector.
In comparison to the majority of technology investments, LPE represents a relatively low-technology concept. The management team adhere to a commercial mindset; before resources are given to new technology it must represent a bottom line benefit to the consumer and to the company. This mentality hasn’t stifled innovation however, with LPE currently bringing a solar electricity product to market that is poised to revolutionise solar into multi-tenancy properties.
“The increasing importance of private credit plays a critical role in minimizing financing gaps unaddressed by banks and supporting mid-market companies like LPE to grow their operations, while broadening the sources of investment return for our investors,” said Justin Ferrier, Managing Director of BlackRock’s Private Credit Team.
With the addition of a capital funding partner the calibre of BlackRock, LPE is poised to continue its growing the strata and high-density living sector, the fastest growing housing segment in Australia.
