New Risk • Dec 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-AU$4.7m). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.06m market cap, or US$1.36m). Announcement • Sep 26
MPR Australia Limited, Annual General Meeting, Nov 25, 2025 MPR Australia Limited, Annual General Meeting, Nov 25, 2025. New Risk • Aug 31
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Negative equity (-AU$4.7m). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.41m market cap, or US$1.57m). Minor Risk Share price has been volatile over the past 3 months (19% average weekly change). Announcement • Jun 12
Wollemi Energy Group Pty Limited agreed to acquire Substantially all the business and assets of MPower Group Limited from MPower Group Limited (ASX:MPR) for AUD 19 million. Wollemi Energy Group Pty Limited agreed to acquire Substantially all the business and assets of MPower Group Limited from MPower Group Limited (ASX:MPR) for AUD 19 million on June 12, 2025. A cash consideration of AUD 19 million will be paid by Wollemi Energy Group Pty Limited. Wollemi Energy Group Pty Limited will pay a deferred payment of AUD 2 million cash. As part of consideration, AUD 21 million is paid towards assets of Substantially all the business and assets of MPower Group Limited. The consideration is subject to adjustments. The company name to be changed to MPR Australia Limited. In case of termination of transaction, MPower Group Limited will pay a termination fee of AUD 0.40 million.
For the period ending December 31, 2024, substantially all the business and assets of MPower Group Limited reported total revenue of AUD 4.36 million, operating loss of AUD 1.57 million, net loss of AUD 3.1 million, loss before interest, tax, depreciation and amortization of AUD 0.65 million and loss from continuing operations of AUD 2.75 million. As of December 31, 2024, Substantially all the business and assets of MPower Group Limited reported total debt of AUD 13.3 million, total assets of AUD 27.73 million, net liabilities of AUD 2.09 million and net debt of AUD 12.87 million.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders and execution of employment agreement. The deal has been unanimously approved by the board. The expected completion of the transaction is August 12, 2025. MPower Group Limited intends to use the proceeds from the transaction to make payments owed to its lenders and creditors.
Jarden Australia Pty Limited acted as financial advisor for MPower Group Limited. Landerer & Company acted as legal advisor for MPower Group Limited. Board Change • Jan 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. No independent directors (5 non-independent directors). Non Executive Director Amy Kean was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 08
MPower Group Limited, Annual General Meeting, Nov 27, 2024 MPower Group Limited, Annual General Meeting, Nov 27, 2024. New Risk • Aug 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$618k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.0m free cash flow). Negative equity (-AU$618k). Market cap is less than US$10m (AU$4.12m market cap, or US$2.80m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (AU$4.5m revenue, or US$3.1m). New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (96% accrual ratio). Market cap is less than US$10m (AU$4.81m market cap, or US$3.19m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (AU$4.7m revenue, or US$3.1m). Announcement • May 25
MPower Group Limited Announces Executive Changes MPower Group Limited announced that Paul Siega has been appointed as Head of Finance with effect from 23 May 2024. Neil Langridge will transition out of the Chief Financial Officer role in the coming weeks. Paul Siega is an experienced finance professional, with in-depth knowledge of renewable energy assets and commercial transactions following his time at Banpu Clean Energy, EY, McGrathNicol and other well-known organisations. Announcement • May 24
MPower Group Limited Announces Executive Changes MPower Group Limited announced that Paul Siega has been appointed as Company Secretary with effect from May 23, 2024. Neil Langridge has stepped down as Company Secretary. Paul Siega is an experienced finance professional, with in-depth knowledge of renewable energy assets and commercial transactions following his time at Banpu Clean Energy, EY, McGrathNicol and other well-known organisations. Announcement • Sep 28
MPower Group Limited, Annual General Meeting, Nov 23, 2023 MPower Group Limited, Annual General Meeting, Nov 23, 2023. Reported Earnings • Aug 31
Full year 2023 earnings released: EPS: AU$0.007 (vs AU$0.016 loss in FY 2022) Full year 2023 results: EPS: AU$0.007 (up from AU$0.016 loss in FY 2022). Revenue: AU$4.46m (up 20% from FY 2022). Net income: AU$1.96m (up AU$5.49m from FY 2022). Profit margin: 44% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-AU$4.9m). Market cap is less than US$10m (AU$6.17m market cap, or US$4.05m). Minor Risks Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Revenue is less than US$5m (AU$4.2m revenue, or US$2.7m). New Risk • Jun 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Negative equity (-AU$4.9m). Market cap is less than US$10m (AU$6.46m market cap, or US$4.37m). Minor Risks Shareholders have been diluted in the past year (32% increase in shares outstanding). Revenue is less than US$5m (AU$4.2m revenue, or US$2.8m). Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.008 loss per share (vs AU$0.008 loss in 1H 2022) First half 2023 results: AU$0.008 loss per share (in line with 1H 2022). Revenue: AU$2.23m (up 27% from 1H 2022). Net loss: AU$2.04m (loss widened 26% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 15
MPower Group Limited Announces its Solar PV / Battery Storage Project in South Australia Has Reached Ready-To-Build Status MPower Group Limited announced that its solar PV /battery storage project in South Australia has reached ready-to-build status. Located in Kadina, South Australia, MPower's clean energy development comprises a 5MW solar farm with a DC-coupled 5MW/10MWh battery storage capability. In October 2022, MPower received a formal Offer to Connect for the project from SA Power Networks, which is the sole electricity distributer in South Australia. As well as the grid connection offer, which is mission-critical to the Company's SA development plans, MPower has now also obtained all the relevant permits and planning approvals required to bring the project to ready-to-build status. The grid connection terms enable clean energy generated by the solar PV facility to be exported via a 5MW connection to the distribution network. Importantly, the project also has the benefit of an import capability that will enable the battery to be charged during periods of low or negative prices, in turn facilitating the sale of energy during peak pricing periods. With the relevant planning and regulatory approvals now obtained, discussions with funding partners continue to progress well. MPower expects to be in position to commence construction of the first Kadina hybrid clean energy project during the course of 2023. Along with consistent projected income from the supply of clean solar power to the local energy grid, the Kadina project's battery storage capability also unlocks potential new revenue streams as the market for the provision of ancillary services into the wholesale market evolves within the broader energy transition. Specifically, the project has been designed to provide Ancillary Market Services such as Contingency FCAS under the new Integrated Resource Provider registration category that was recently introduced as part of an Australian Energy Market Commission rule change. The rule change is designed to support the integration of battery storage into the National Electricity Market, particularly where storage and hybrid systems utilize a single connection point, which is the case with the Kadina project. The new Integrated Resource Provider category will allow the project to register and participate in a single registration category rather than under two different categories. Further, MPower is well positioned to leverage its in-house intellectual property and management expertise to drive returns, which is already evident in-market with the successful expansion of EBITDA margins at the group's Lakeland solar/storage facility in North Queensland. MPower's clean energy credentials are being utilized to deploy the latest solar PV and battery technology for the first Kadina project. This, together with the project's exempt generator status in the National Electricity Market leave the Company particularly well-placed to monetize dynamic market conditions over the 30+ year life of the asset. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non Executive Director Amy Kean was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
MPower Group Limited, Annual General Meeting, Nov 29, 2022 MPower Group Limited, Annual General Meeting, Nov 29, 2022, at 10:00 AUS Eastern Standard Time. Reported Earnings • Aug 25
Full year 2022 earnings released: AU$0.016 loss per share (vs AU$0.014 loss in FY 2021) Full year 2022 results: AU$0.016 loss per share (down from AU$0.014 loss in FY 2021). Revenue: AU$3.71m (down 66% from FY 2021). Net loss: AU$3.54m (loss widened 51% from FY 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Aug 13
MPower Group Limited (ASX:MPR) completed the acquisition of Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited. MPower Group Limited (ASX:MPR) agreed to acquire Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited for an enterprise value of AUD 8 million on May 16, 2022. The transaction has an enterprise value of AUD 8 million, comprising deferred consideration of up to AUD 0.35 million over a three-year period following completion and the assumption of an existing AUD 7.66 million limited recourse long-term debt facility in place with German bank. The transaction will be internally funded. The transaction is subject to a number of conditions, including third party consents being obtained and the finalisation of amendments to the existing debt facility structure, acquisition is expected to be completed by the end of June 2022. As of August 12, 2022, relevant third-party consents have been obtained.
MPower Group Limited (ASX:MPR) completed the acquisition of Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited on August 12, 2022. Announcement • May 18
MPower Group Limited (ASX:MPR) agreed to acquire Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited for an enterprise value of AUD 8 million. MPower Group Limited (ASX:MPR) agreed to acquire Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited for an enterprise value of AUD 8 million on May 16, 2022. The transaction has an enterprise value of AUD 8 million, comprising deferred consideration of up to AUD 0.35 million over a three-year period following completion and the assumption of an existing AUD 7.66 million limited recourse long-term debt facility in place with German bank. The transaction will be internally funded. The transaction is subject to a number of conditions, including third party consents being obtained and the finalisation of amendments to the existing debt facility structure, acquisition is expected to be completed by the end of June 2022. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non Executive Director Amy Kean was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 15
MPower Announces Planning Approval for Mangalore Project MPower announced that the Mangalore Renewable Energy Project has been granted a planning permit by the Victorian Department of Environment, Land, Water & Planning (DELWP). The approval from DELWP represents a major milestone in the development of the project. The project will deliver 11,000 Bifacial PV Modules with the capacity to produce more than 10,500MWh of electricity in its first year providing a reliable source of power to the region. The application to connect the project to the National Electricity Market is currently in progress. Once complete, this will mark another major milestone for the project and is expected in the coming months. The Mangalore Renewable Energy Project is being developed by Tetris Energy and is located at Mangalore, Victoria, approximately 100km north of Melbourne. The project is expected to be shovel ready in the first quarter of 2022 and fully constructed and revenue generating in FY2023. Reported Earnings • Aug 24
Full year 2021 earnings released: AU$0.014 loss per share (vs AU$0.016 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: AU$11.1m (up 2.1% from FY 2020). Net loss: AU$2.34m (loss narrowed 6.1% from FY 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jun 03
Mpower Group Limited Selects Lithium-Ion as the Preferred Battery Storage Technology for the Company's Planned Portfolio of Build Own Operate Sites MPower announced that it has selected lithium-ion as the preferred battery storage technology for the Company's planned portfolio of Build Own Operate (BOO) sites. The technology selection follows extensive due diligence and reviews undertaken by MPower's technical team into various energy storage technologies. MPower has chosen lithium-ion battery technology because it provides the best form of electrical energy storage available today and for the foreseeable future. It is proven technologically and commercially, evidenced in over 10GW of lithium-ion based large-scale battery projects installed or under development globally. Lithium-ion batteries also have a decreasing cost curve, a higher density than competing technologies and have a large operating temperature range, which is advantageous given the location of a number of the MPower's BOO sites. MPower intends to augment its portfolio of 5MW solar projects with 5MW of DC-coupled battery storage when doing so will enhance project returns. Adding energy storage capabilities will increase revenue by harbouring excess solar power generation, which would otherwise be lost due to network export limits. It also allows for solar power export to be "time-shifted" to periods of higher spot market prices. MPower's approach to solar farm design is to incorporate a higher DC capacity initially, so that revenue can be maximised through increased power generation during the morning and afternoon periods and enhanced further with the subsequent augmentation of battery storage. MPower has successfully delivered more than 10MWh of battery storage projects for customers and will leverage its in-house expertise for its own battery storage strategy . The Company continues to progress its initial portfolio of up to 20 5MW sites with an estimated value of over $150 million. Binding purchase agreements for the first sites are expected in the coming weeks. Executive Departure • Jun 03
Non-Executive Director Gary Cohen has left the company On the 25th of May, Gary Cohen's tenure as Non-Executive Director ended. As of March 2021, Gary still personally held only 619.77k shares (AU$7.4k worth at the time). Gary is the only executive to leave the company over the last 12 months. Announcement • Apr 29
MPower Group Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. MPower Group Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 58,823,530
Price\Range: AUD 0.085
Discount Per Security: AUD 0.0051
Transaction Features: Subsequent Direct Listing Announcement • Mar 17
Mpower Group Limited Announces Grid Connection Achieved At South Hummocks Solar Farm MPower announced it has successfully connected a 5MWac solar project at South Hummocks in South Australia to the national electricity grid. Grid connection, including first energisation of the solar farm, follows the commissioning
phase that started last month. The project is expected to reach commercial operations in the coming weeks, being the start of when the project is capable of exporting power at full capacity to the grid. MPower commenced the design and construction of the South Hummocks solar project, together with another 5MWac project at Kadina in South Australia last year after executing contracts with Astronergy worth a combined value of approximately $9 million.
In addition to developing its Build Own Operate strategy, MPower has an active pipeline of new project opportunities in the tendering phase which, together with recurring service and maintenance work, underpins the Company's future growth. Announcement • Mar 09
MPower Secures Exclusivity over 3 Build Own Operate Sites MPower announced it has significantly increased its pipeline of potential Build Own Operate sites after obtaining exclusivity over three more renewable energy sites in Victoria. Announcement takes the total number of sites MPower has exclusivity over to six, a substantial portion of the Company's stated objective of creating an initial portfolio of 20 sites with an estimated value of more than $150 million. Sites with a generating capacity of up to 5MWac are being pursued due to their many advantages with the most notable being the relative ease of connection to the grid. MPower's strategy is to secure rights over potential renewable energy sites during or at the end of their development phase and to acquire the renewable development assets once the development phase has been completed, the Company's investment criteria have been met and the projects have reached `ready to build' status. Reported Earnings • Sep 26
Full year earnings released - AU$0.016 loss per share Over the last 12 months the company has reported total losses of AU$2.49m, with losses narrowing by 60% from the prior year. Total revenue was AU$10.9m over the last 12 months, down 77% from the prior year. Announcement • Sep 25
TAG Pacific Limited (ASX:TAG) signed an Implementation Deed to acquire Energy Made Clean Limited from Carnegie Clean Energy Limited (ASX:CCE) for AUD 3.7 million. TAG Pacific Limited (ASX:TAG) signed an Implementation Deed to acquire Energy Made Clean Limited from Carnegie Clean Energy Limited (ASX:CCE) for AUD 3.7 million on June 28, 2018. The consideration will be paid by TAG Pacific Limited by issuing 58.5 million new fully paid ordinary shares to Carnegie Clean Energy Limited. Upon completion of acquisition, TAG Pacific Limited to be renamed as Mpower and Carnegie will continue as a renewable energy company. As per the September 28, 2018 update, parties are agreed to negotiate the amendments in share purchase agreement by October 16, 2018. If parties are unable to reach agreement on amendments by October 16, 2018, then agreement will terminate automatically. As of October 24, 2018, parties signed amended agreement. Under the amendment, consideration shares will remain escrow for two years. Two Carnegie Clean Energy Limited Directors to join MPower board. The parties have also agreed that Michael Ottaviano will not be appointed as a Director of TAG Pacific Limited at completion of the transaction. The acquisition is subject to approval of shareholders of Carnegie Clean Energy Limited and TAG Pacific Limited, approval of third party, the execution of binding legal documents, no person acquiring a relevant interest in more than 15% of the voting power in Carnegie Clean Energy Limited, novation of existing key contracts and completion of separate transaction. The acquisition is approved by the Board of Directors of Carnegie Clean Energy Limited and TAG Pacific Limited. Extraordinary General Meetings expected to be held in August, 2018. Extraordinary General Meeting of members of Tag Pacific Limited will be held on September 25, 2018. As per the independent expert’s report prepared by HLB Mann Judd Corporate (NSW) Pty Ltd, the acquisition is fair and reasonable to the non associated shareholders of TAG Pacific. The acquisition is expected to be completed by August 31, 2018. As of August 17, 2018, the transaction is expected to complete around the end of September 2018. As of September 28, 2018, completion is expected to take place up to November 30, 2018. As of October 24, 2018, drop dead date for the satisfaction of the conditions is November 30, 2018 and completion expected to occur in the following week. HLB Mann Judd Corporate (WA) Pty Ltd acted as the independent expert to TAG Pacific. 