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Memery Crystal advises Eneraqua Technologies plc on its AIM listing and the LSE’s Green Economy Mark

25/11/2021

At a glance

Memery Crystal has advised specialist provider of energy and water efficiency solutions Eneraqua Technologies plc on their AIM admission and £20m placing. Eneraqua Technologies also received the London Stock Exchange’s (LSE) Green Economy Mark on admission.

Admission took place on 22 November 2021, and the Group’s market capitalisation on admission was £92m. Eneraqua Technologies intends to use its AIM listing to accelerate its expansion into new markets and geographies, both organically and potentially through acquisitions. FinnCap acted as nominated adviser and broker to Eneraqua Technologies.

Eneraqua Technologies supports its clients to meet their net zero and sustainability goals. It provides turnkey solutions for decarbonisation through heating and hot water systems for multiple occupancy social housing and commercial projects. It also delivers water efficiency upgrades for utilities and commercial clients such as hotels and care homes.  These activities are underpinned by the Company’s wholly owned technology solutions which reduce water wastage and improve the performance of heating and hot water systems.

The Green Economy Mark that the Eneraqua Technologies received on admission was first introduced in 2019 to highlight companies and investment funds listed on all segments of the LSE’s Main Market and AIM that are driving the global green economy. To qualify for the Green Economy Mark, companies and funds must generate 50% or more of their total annual revenues from products and services that contribute to the global green economy.

The Memery Crystal team on this transaction was led by our chair Lesley Gregory and corporate partner Melanie Talbot, who were supported by Jack Bickler, Sylvia Mueller and Karkay Lee. Our corporate team were supported by our employment, commercial and construction teams.

Commenting on the deal, Lesley said: “This is an exciting milestone for Eneraqua Technologies. We wish them the best and look forward to continuing to support them as they expand into new markets and geographies. ESG is at the heart of what Eneraqua Technologies does and we would like to also congratulate them on receiving the LSE’s Green Economy Mark that recognises their ongoing contribution to the global green economy.

Melanie said: “It was a pleasure to work with the team at Eneraqua Technologies, and assist them with their IPO which will allow the Group to the accelerate their growth.”

Eneraqua CEO Mitesh Dhanak commented: “Lesley, Mel and the team at Memery Crystal provided excellent support throughout the complex IPO process. They were on hand to advise and support at each stage of the process. We look forward to working with them in the future.

(Image via Eneraqua Technologies)

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    Melanie Talbot (née Jory)
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