RooLife Group Ltd (ASX: RLG) has announced a significant expansion of its Renewable Energy division. RLG is a data-driven commerce company identifying demand for high-margin products and rapidly deploying them into global markets. With a focus on China, Australia and India, it leverages market data, supplier networks, and multi-channel sales infrastructure to deliver products across consumer goods, food & beverage, and renewable energy sectors. The company’s wholly-owned subsidiary, Aurora Advanced Technologies Pty Ltd, will acquire a renewable energy business from Kabunga Holdings Pty Ltd. This move accelerates RLG’s presence from branded products into project origination and delivery, supported by a $1,060,000 placement.
The acquired business specialises in identifying, originating, developing, and delivering battery energy storage (BESS), microgrid, and hybrid power solutions for international mining, commercial, industrial, utility, and government clients. It brings established relationships across the battery value chain in Australia, East Africa, and Europe, alongside a development pipeline of proposed projects. The acquisition consideration is entirely scrip and performance-based, comprising 80,000,000 upfront shares and up to 400,000,000 performance rights. These rights are contingent on the business achieving defined revenue contracts totalling $12.5 million with a minimum $1.56 million gross profit contribution, with all shares subject to a 12-month voluntary escrow period.
The $1,060,000 placement involves issuing 424,000,000 shares at $0.0025 each, representing a 25% premium to the last traded share price. Proceeds will fund renewable energy project expansion, cover acquisition transaction costs, and provide general working capital. Complementing this, RLG has partnered with Murdoch University for a strategic research collaboration. This partnership focuses on developing and validating battery management systems and inverter control software for renewable energy systems under Australian operating conditions. RLG Managing Director Bryan Carr highlighted the acquisition as a crucial step towards building a fully integrated business, converting substantial demand opportunities in the energy transition for RLG’s branded products, with the performance-based consideration ensuring strong alignment of interests.
