Eneraqua subsidiary Cenergist to enter administration after £1.2m award

Published 09/07/2025, 14:50
Eneraqua subsidiary Cenergist to enter administration after £1.2m award

LONDON - Eneraqua Technologies plc (AIM:ETP) announced Wednesday that its operating subsidiary Cenergist Limited is filing a notice to appoint administrators following an adverse adjudication award of approximately £1.2 million.

The adjudication, which includes costs related to a contractual dispute, requires payment within five days. While Eneraqua believes there are grounds for a counterclaim, the company stated this cannot be pursued due to current cash constraints.

Cenergist’s board has determined it has insufficient funds to continue trading and can no longer operate as a going concern. Interpath Advisory is being appointed as administrator and will manage an accelerated sale process to seek potential buyers for Cenergist’s business and assets.

The development follows Eneraqua’s July 7 announcement that its balance sheet and supply chain were under "significant strain" due to delayed client payments and deferred energy projects.

As a result of these financial uncertainties and limited working capital, Eneraqua has requested immediate suspension of its shares from trading on the AIM market.

The company indicated in its press release statement that further announcements will be made when appropriate.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.