24th Sep 2025 12:56
(Alliance News) - European Green Transition PLC on Wednesday said it was evaluating opportunities outside of the green energy sector given uncertainty and challenging long-term prospects faced by many businesses focused on the green economy.
The company, which is developing green economy assets in Europe, said its pretax loss narrowed to GBP596,482 in the six months to June 30 from GBP1.3 million the year prior.
No revenue was disclosed, unchanged from a year ago, while administrative costs dropped to GBP658,084 from GBP904,173. Last year's loss also included exceptional charges of GBP379,008 compared to zero this time.
EGT said it has identified and continues to engage with a range of "distressed, revenue-generating acquisition targets available at attractive valuations", in line with its previously stated strategy to reallocate its resources towards acquiring revenue generating businesses.
Given the uncertainty and challenging long-term prospects faced by many businesses focused on the green economy, EGT is also evaluating opportunities in other sectors alongside its existing pipeline of green economy opportunities, it said.
"The board believes that this may be the optimal approach for allocating EGT's capital resources and delivering long-term, sustainable returns to shareholders," the firm stated.
Cathal Friel, co-founder and executive chair, commented: "Over the past six months we have made significant progress in identifying and engaging with potential acquisition targets. We continue to see a range of promising acquisition opportunities across the green economy and other sectors. Given our strong track record of transforming distressed businesses, we will evaluate these opportunities and prioritise deals where we can deliver sustainable, long-term returns for our shareholders."
Shares in the firm were up 3.6% at 6.48 pence each in London on Wednesday afternoon.
By Jeremy Cutler, Alliance News reporter
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