12:26 PM EDT, 04/09/2025 (MT Newswires) -- Energys Group ( ENGS ) said Wednesday that it entered into a non-binding agreement to acquire a 49% equity interest in Hong Kong-based energy saving technologies and services provider Energys Spectrum.

The consideration to be paid for the stake will be determined by a professional valuator, Energys Group ( ENGS ) said, but it has paid a refundable deposit of $5.5 million, which will be applied towards the purchase price.

The agreement, which remains subject to negotiation, a definitive agreement and customary closing conditions, provides that the acquisition is to be consummated no later than Dec. 31.

Energys Spectrum, which is the exclusive licensee of Energys Group ( ENGS ) in Hong Kong and Macau, offers end-to-end solutions aimed at reducing energy consumption, carbon emissions and operating costs for both public and private sector clients, the company said in the announcement.

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