Brief: Photon Energy Restructures Activities In Australia

Photon Energy NV

23/02/2026 06:43

Feb 23 (Reuters) - Photon Energy N.V. PENP.WA:

SAID ON FRIDAY THAT IT HAS DECIDED TO RESTRUCTURE ITS ACTIVITIES IN AUSTRALIA AND TO DISCONTINUE ITS ACTIVITIES RELATED TO EPC AND O&M SERVICES FOR COMMERCIAL & INDUSTRIAL ENERGY PROJECTS

THE DECISION HAS BEEN TAKEN DUE TO CONTINUING MARGIN PRESSURE IN THE MARKET AND ONGOING CHALLENGES TO SCALE BUSINESS VOLUMES

IN LINE WITH THIS DECISION THREE SUBSIDIARIES, PHOTON ENERGY AUSTRALIA, PHOTON ENERGY OPERATIONS AUSTRALIA, AND PHOTON ENERGY ENGINEERING AUSTRALIA HAVE ENTERED VOLUNTARY ADMINISTRATION UNDER THE LAWS OF AUSTRALIA, WITH THE INTENTION OF FINDING A GOING CONCERN SOLUTION UNDER NEW OWNERSHIP

THE IMPACT ON THE GROUP’S CONSOLIDATED FINANCIAL STATEMENTS IS EXPECTED TO BE MINOR

THE GROUP WILL CONTINUE WITH ITS OTHER ACTIVITIES IN THE AUSTRALIAN MARKET, INCLUDING REMEDIATION SERVICES FOCUSED ON PFAS CHEMICALS CONTAMINATION, ITS INVESTMENT IN RAYGEN AS WELL AS THE COMPLETION OF THE ASSET TRANSFER TRANSACTION OF THE YADNARIE PROJECT TO AGL

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