3 July 2024 

Eneraqua Technologies plc

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

AGM Statement

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

"The Group has had a busy start to the new financial year.

"In the UK our domestic energy projects are performing as expected. The Group has also secured and commenced work on several multi-year commercial energy framework contracts. Under these contracts, the Group is the appointed energy services partner for all public sector non-domestic building upgrades in those areas for the period to 2028.

"Water continues to perform well with an increasing number of water and nutrient neutrality projects secured. These types of projects are essential in unlocking development in the 74 local authority areas so far affected by these issues in the UK.  

"Following the election in India, we are now progressing the next stage of projects to further demonstrate the benefits of our technologies in municipal housing applications.  This is being done in partnership with the relevant State Authorities and The Environmental and Resources Institute (TERI).

"As is often the case on these occasions the calling of a General Election in the UK for 4th July has had the effect of slowing decisions by certain customers as a result of the usual Government hiatus on funding and decision making during the election period.  This will result in the deferral of some revenue into H2 FY25.  However, we continue to expect a high level of activity, supported by a healthy balance sheet and a return to profit in H2 and for the full year as planned.

Notes to editors

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

The Group's activities 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 Group's main country of operation is the United Kingdom. The Group's head office is based in London with additional offices in Leeds, Washington (Sunderland), India, Spain and the Netherlands. The Group has 206 employees, with the majority employed within the UK.

To find out more, please visit:  www.eneraquatechnologies.com