eEnergy Group plc has raised £6.3 million in emergency funding and plans to raise another £2m following a ‘turbulent’ summer.

This week the company said it must source new capital to refinance the business, enable it to pay overdue creditors and ‘take advantage of the many opportunities which exist in its markets’.

It raised the £6.3m via a placing priced at 0.3 pence per share. It now intends to raise another £2m via a separate retail offer at the same price.

It said the fundraising proceeds ‘will not be used towards repayment of the company’s £2.5m loans from shareholders’.