REG - Eneraqua Technolgs. - AGM Update

Eneraqua TechnologiesAnnouncement

05/07/2023 07:00

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RNS Number : 9629E  Eneraqua Technologies PLC  05 July 2023

5 July 2023

 

Eneraqua Technologies plc

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

 

AGM Update

 

Eneraqua Technologies plc, a provider of specialist energy and water
efficiency solutions, will hold its Annual General Meeting ('AGM') today at
which Guy Stenhouse, Chairman will provide the following update:

"The current year is progressing as expected with a high level of activity in
terms of both continuing contracts and new opportunities which we are
pursuing.  Operating cash flow has also been positive during the first months
of the year.

Within our Energy business, the mix and timing of projects has been as
anticipated with existing and new clients, most notably a large London Borough
for which we are upgrading a number of commercial buildings.

Within our Water business our Control Flow technology continues to make good
progress based on its proven ability to reduce both water use and energy
costs.  Delivery is underway on our current contracts and we are pursuing a
number of opportunities including finalising a contract with a major water
utility as well as progressing our net water neutrality solution.

The Vriend business in Holland, which was acquired in April, is in the process
of being integrated within our wider operations.  Vriend creates a platform
for Eneraqua Technologies to develop its business further in Europe and has a
particular speciality in designing and installing hybrid gas/heat pump heating
systems which also have the potential to be used in the UK as part of the
transition to net zero.

As part of our European expansion plans, we successfully established our new
global manufacturing site near Madrid, which will further support our drive
into wider European markets by allowing us to expand the range of products
that we offer, while enhancing our manufacturing capability and reducing
production costs. Recently, following a successful pilot, we now have an order
to install Control Flow technology in 28 student housing developments in
Spain.

Eneraqua will provide a more detailed trading update for the six months to 31
July 2023 in the first half of September."

 

 For further information please contact:

 Eneraqua Technologies plc                  Via Alma PR

 Mitesh Dhanak, Chief Executive Officer

 Iain Richardson, Chief Financial Officer

 Liberum (Nomad and Joint Broker)           Tel: 0203 100 2000

 Edward Mansfield

 Benjamin Cryer

 Singer Capital Markets (Joint Broker)      Tel: 020 7496 3000

 Sandy Fraser

 Justin McKeegan

 Asha Chotai
 Alma PR (Financial PR)

 Justine James                              Tel: 020 3405 0205

 Sam Modlin

 Will Ellis Hancock                         eneraqua@almapr.co.uk

 

Notes to editors

 

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water
efficiency. The Group has two divisions energy and water. Energy is the larger
division, 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.

 

The water division is a growing service offering focused on water efficiency
upgrades for utilities and commercial clients including hotels and care
homes.

 

The activities in both divisions 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 based in London with additional offices in Leeds, Washington
(Sunderland), India, Spain and the Netherlands. The Company has 168 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)

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

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