Eneraqua Technologies is well positioned to take advantage of the increasing focus on energy and water efficiency and the associated incentives for investment in these areas.
The annual social housing heating system renewal market is valued at £2.77bn and Eneraqua Technologies has a tiny market share. The UK market for the water flow technology is around £100m and there are opportunities overseas. Generally, competition is in different in each market.
The cash raised is being used to grow the market position in the energy market and build up a stronger position in the water sector. There will also be cash reserved to pay the remaining consideration for Spain-based HaGePe International.
The share price started the day at 287p and ended it at 290p. There were 83,570 shares t...