REG - Eneraqua Technolgs. - Notice to appoint Administrator over a subsidiary

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.

9 July 2025 

Eneraqua Technologies plc

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

Notice to appoint an Administrator over a subsidiary

As noted in the announcement of 7 July 2025, the Company's balance sheet and supply chain has been placed under significant strain due to significant delays in the receipt of payments due from several clients and the deferral of certain energy projects.

The Company has today been notified of a material adverse adjudication award against its operating subsidiary Cenergist Limited ("Cenergist") in the sum of approximately £1.2m including costs relating to a contractual dispute. The adjudication award requires payment within five days and although the Company believes there are grounds for a counterclaim. This cannot currently be pursued due to the cash constraints of the Group.

Consequently, the board of Cenergist has reported to the Company that it has insufficient funds to continue trading and has concluded that they are no longer able to continue trading as a going concern. Therefore, the Board is reporting that Cenergist is in the process of filing a notice of intention to appoint Interpath Advisory as administrators. In the interim, Interpath Advisory will manage an accelerated sale process to seek potential buyers of the business and assets of Cenergist.

Due to the ongoing financial uncertainty regarding the Group, its limited working capital and the circumstances noted above, the Company has requested that its shares are suspended from trading on AIM with immediate effect.

Further announcements will be made as and when appropriate.

Notes to editors

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water efficiency. The Group operates in two markets, energy and water. In Energy, the Group is 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 its 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, Sunderland, India, Spain and the Netherlands. The Group has over 200 employees, with the majority employed within the UK.

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

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