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Technologies New Energy PLC on Wednesday reported a widened loss for the first half of 2025, as costs related to its reverse takeover and London listing continue to weigh on its bottom line. The London-based energy company supporting decarbonisation projects said pretax loss for the six months that ended June 30 widened to €349,600 from €96,233 the year before. Revenue sank 27% to €68,117 from €93,908, while administrative expenses jumped to €400,958 from €166,215. ‘The majority of expenditure during the period related to the reverse takeover transaction and the costs of maintaining the group’s listing on the London Stock Exchange,’ Technologies New Energy said, adding: ‘Alongside these one-off and regulatory costs, the group also invested in advancing its proprietary biorefinery project portfolio, laying the foundations for future revenue growth.’ Special acquisition firm Codex Acquisitions PLC completed its reverse takeover of Technologies New Energy SA at the end of April for a total consideration of £28 million. ‘The reverse takeover of Technologies New Energy SA by the company marks the completion of its mission as an investment company and the start of its future as an operating company,’ said the firm. Shares in Technologies New Energy were flat at 30.00 pence in London on Friday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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