Eneraqua Technologies PLC Investment in B2C offering
11 October 2022 - 5:01PM
RNS Non-Regulatory
TIDMETP
Eneraqua Technologies PLC
11 October 2022
11 October 2022
Eneraqua Technologies plc
("Eneraqua", the "Company" or the "Group")
Investment in B2C offering
Eneraqua Technologies plc, a specialist provider of energy and
water efficiency solutions, is pleased to announce that, following
the success of net water neutrality pilot programmes with two
English local authorities, the Board has confirmed the decision to
invest in a direct B2C offering.
The water neutrality pilots were to demonstrate how Control Flow
HL2024 installed in existing homes can save water to offset the
demand of new homes in the area. This would allow Control Flow
HL2024 to be used in unlocking some of the estimated 120,000 new
build homes across the UK currently stuck in planning due to water
and nitrate concerns.
By eliminating water flow fluctuations, Control Flow HL2024
reduces water wastage and improves the performance of hot water
systems. The pilots involved 100 homes and found that the Control
Flow HL2024 system reduced the household daily energy and water
bills equivalent to an average saving of c.GBP360 a year. The
analysis, which was carried out jointly by Eneraqua and local
authority staff, was based on actual gas and water meter data,
taking before and after meter readings to determine the change in
daily consumption, which is then multiplied by the current energy
and water prices.
Customer satisfaction surveys were carried out post installation
to monitor householder experience, which showed over 99% user
satisfaction with the product and supply of water.
As a result of the success of the pilots, from both a saving and
customer satisfaction perspective, the Company will shortly
commence the launch of the product direct to consumers, with
pre-launch costs of approximately GBP0.5m in H2 FYJan23 to cover
marketing and operational delivery teams.
The Board strongly believes the B2C offering has the potential
to create a new and exciting revenue stream for the business in
FY24.
Mitesh Dhanak, CEO of Eneraqua Technologies commented:
"We are delighted to announce the success of our water
neutrality pilots have encouraged us to launch a direct to consumer
product. In the current climate, as consumers face heightened
financial pressure due to the rising cost of utility bills, Control
Flow HL2024 is able to make a genuine positive impact by
significantly reducing domestic energy and water bills.
"Our Research and Development teams remain focused on developing
new, innovative solutions, with the sole aim of reducing carbon
emissions and water consumption in both buildings and agriculture
domestically and internationally."
For more information, please contact:
Eneraqua Technologies plc Via Alma PR
Mitesh Dhanak, CEO www.eneraquatechnologies.com
Iain Richardson, CFO
finnCap Limited - Nominated Adviser and
Joint Broker +44(0)20 7220 0500
Ed Frisby / Charlie Beeson - Corporate
Finance
Andrew Burdis / Sunila de Silva - ECM
Singer Capital Markets - Joint Broker +44(0)20 7496 3000
Sandy Fraser / Justin McKeegan / Rachel
Hayes
Alma PR - Financial PR and IR +44(0)20 3405 0205
Justine James / Sam Modlin / Will Ellis eneraqua@almapr.co.uk
Hancock
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 144 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
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