Wirral power grid specialist EA Technology reports soaring revenues and profits just months after a takeover that will help it tap into a $20 trillion net zero grid transformation market. Tony McDonough reports
Power grid firm EA Technology is reporting a significant rise in both revenues and profits as it taps into a market estimated to be worth $(US)20 trillion.
Based at Capenhurst, not far from Chester, EA Technology has seen rapid growth as power grids across the world switch from fossil fuels to renewable energy. It offers a portfolio of smart grid technologies to companies around the world.
In annual accounts for the 12 months to March 31, 2024, EA revealed revenues were up by 60% to £48m. Pre-tax profits also came in at £5.3m – more than double the £2m in the previous year.
In October 2024 LBN revealed that global investor Summa Equity had acquired a controlling stake in the business. Although the value of the deal was not disclosed at the end of the above accounting period EA had net assets of just under £12m.
During the year EA invested £3.4m in new product development. Since it took over the business, Summa has invested a further £7.5m to give the company a platform to expand its global footprint.
A revenue breakdown in the accounts shows the bulk of EA’s income came from the UK, totalling more than £38m. Europe and North America accounted for around £3m with more than £6m coming from Australasia and other territories.
Summa is clear on its website of the global potential of EA. With most countries in the world now having to upgrade their power grids for the change to renewable energy, Summa estimates the market will be worth $(US)20 trillion between now and 2050.
It says: “The energy transition from a traditional fossil fuel-based system to renewables has a significant impact on the electricity grid.
“Higher electricity demand and volatility coupled with the intermittent and unpredictable nature of renewable energy sources, ageing grid infrastructure, and regulatory tightening is increasing the strain… with significant investments required to futureproof networks.”
Switching power grids from gas or coal to renewables such as wind and solar creates complex challenges when it comes to balancing electricity demand and supply. EA offers grid monitoring instruments, specialist software, smart grid consultancy and training.
EA, which employs around 300 people, said in the accounts that its sales pipeline for the current financial year indicates “further revenue growth”. It added: “The global market for our propositions remains very attractive.
“The UK is increasingly recognised as leading the world in its development of grid technologies. As we are increasingly leading this marketplace our potential for international growth is significant.
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“We continue to reflect and review the performance in our territories. The drivers in the UK continue to be regulatory for our major customers.
“The requirement for 100% network visibility as well as continued improvement in network reliability both create demand for our excellence in delivering innovative technologies in this space.”
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