Haydale has reported its plan for a significant strategic step: raising fresh capital and acquiring an energy‑efficiency business to accelerate the commercial deployment of its graphene-based technologies.
The company intends to acquire Intelligent Resource Management Limited, trading as SaveMoneyCutCarbon (SMCC), a business that delivers energy‑ and water‑efficiency solutions to both residential and commercial customers, in an all‑share deal worth up to about £17.1 million. The price includes an initial share-based payment of around £11.2 million and up to a further £6 million in shares over the next few years, if Haydale’s share price reaches certain targets.
To support the acquisition and strengthen its balance sheet, Haydale plans to raise up to about £6.4 million by issuing a large number of new shares to a mix of institutional, strategic and retail investors. The new funds are expected to support day‑to‑day working capital, the integration and growth of SMCC within the group, and the continued development and rollout of Haydale’s graphene‑based product portfolio in energy‑efficiency and decarbonization markets.
In addition, part of Haydale’s existing borrowings with Octopus Investments will be converted into shares instead of being repaid in cash, which lowers the company’s debt but increases the overall number of shares in issue and makes Octopus a more significant shareholder. The wider transaction package also includes some corporate changes, such as a proposed change of name to Haydale plc, adjustments to the company’s Articles of Association to accommodate certain regulated investors and a change in the financial year-end to align with SMCC.
The transaction is still subject to key conditions, including shareholder approval, a minimum level of funds being raised and the usual legal and regulatory steps before it can complete.
From a technology and market point of view, the deal is intended to give Haydale a direct and scalable route for deploying graphene-enabled solutions into real‑world efficiency projects via SMCC’s platform and relationships, while existing shareholders face a trade‑off between dilution from the increased share count and the potential benefits of lower debt, better market access and stronger exposure to the growing energy‑ and carbon‑saving market.
