REG - Eneraqua Technolgs. - AGM Update

Eneraqua TechnologiesAnnouncement

29/07/2022 07:00

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RNS Number : 1671U  Eneraqua Technologies PLC  29 July 2022

29 July 2022

Eneraqua Technologies plc

("Eneraqua Technologies", the "Company" or the "Group")

 

AGM Update

 

Eneraqua Technologies plc, a specialist provider of energy and water
efficiency solutions, will today hold its AGM at 12:00 p.m. at which the
following update will be given:

The Board is delighted to host our first AGM since IPO on 22 November 2021.

Following a strong start to life as a quoted Company we are pleased to update
that post year end, trading in the first half of the year to 31 January 2023
has been encouraging and we remain on course to deliver on our growth plans.
 

In addition to delivering on contracts in the current year, we are also
building a strong pipeline of opportunities for the following year and beyond
with an Order Book(1) providing full revenue cover for our FYJan23 revenue
target and 67% for FYJan24.

As reported, we were delighted to secure the first Agritech contract in May to
provide our ClimateSmart agricultural water efficiency solution to the State
of Uttarakhand in India and following this are in discussions with other
states across India. In the UK, the use of our Control Flow HL2024 products
for domestic water efficiency and net water neutrality programmes is
progressing well and attracting wider interest.

The challenge from climate change is widely recognised globally, as is the
need to increase the resilience of our energy markets to dislocations such as
that caused by Russia's attack on Ukraine. These challenges create further
demand for the work we do. A stable legislative framework around climate
change and fuel poverty is important for clients.

In response to the growing opportunities we are witnessing, we are also
investing further in our capability, in particular in people, to enable the
Group to deliver higher levels of activity in future years. This includes
increasing our investment in training and development to bring forward the
skills and experience of our people to enable us to deliver an even better
outcome for our clients. This has also allowed us to manage the challenges in
our supply chain.

We continue to focus on delivering strong growth in energy and continued
expansion of the water business's operations both in the UK and overseas.

(1) Order Book defined as Contracted + Secured. Contracted = project contact
issued and signed, with work started or ready to start. Secured = sum of a)
tender process successful, awaiting project contract, and b) Directors'
assumed win rate on Framework opportunities

 

For more information, please contact:

 

 Eneraqua Technologies plc                        Via Alma PR
 Mitesh Dhanak, CEO                               www.eneraquatechnologies.com (http://www.eneraquatechnologies.com/)
 Iain Richardson, CFO
 finnCap Limited - Nominated adviser and Broker   +44(0)20 7220 0500
 Ed Frisby / Charlie Beeson - Corporate Finance
 Andrew Burdis / Sunila de Silva - ECM
 Alma PR - Financial PR and IR                    +44(0)20 3405 0205
 Justine James / Sam Modlin / Will Ellis Hancock  eneraqua@almapr.co.uk (mailto:eneraqua@almapr.co.uk)

 

 

Notes to editors:

 

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water
efficiency. The Group designs and delivers improved energy and water systems
which utilise its wholly owned intellectual property, Control Flow HL2024.
Energy was the first market the Company entered and this is the larger sector,
with the Company focused on clients with end of life gas, oil or electric
heating and hot water systems. The Group provides turnkey retrofit district or
communal heating systems based either on high-efficiency gas or ground/air
source heat pump solutions that support Net Zero and decarbonisation goals.

 

Water is a growing service offering focused on water efficiency upgrades for
utilities and commercial clients including hotels and care homes.  It has
also expanded into agritech systems.

 

The activities in both areas are underpinned by the Company's wholly-owned
intellectual property, the Control Flow HL2024 family of products which reduce
water wastage and improve the performance of heating and hot water systems.

 

The Company's main country of operation is the United Kingdom. The Company's
head office is in London with additional offices in Leeds, Washington
(Sunderland), India, Spain and the Netherlands. The Company has 116 employees,
with the majority employed within the UK. Eneraqua Technologies has received
the London Stock Exchange's Green Economy Mark.

To find out more, please visit:  www.eneraquatechnologies.com
(http://www.eneraquatechnologies.com/)

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