Company Directory / Flowgroup Plc

Business Description

"Founded in 1998, incorporated in the UK, and listed on AIM in 2006, Flowgroup (formerly Energetix Group) is an energy company aiming to take advantage of seismic shifts in the UK home energy market to become one of a new generation of large energy supply businesses.

The Group was originally founded to commercialise its patented microCHP technology, in the form of the Flow boiler, a domestic, electricity-generating boiler. In 2013, it launched its home energy business, Flow Energy. The rapid success of Flow Energy, and changes in the UK marketplace for its microCHP technology, caused the Group to refocus its strategy on aggressively growing FLOW ENERGY and pursuing commercialisation of its microCHP technology with selected partners in the European market.

Flowgroup is headquartered in Ipswich, Suffolk.

Flow Energy launched in April 2013 and grew steadily throughout 2013 and 2014. In order to take advantage of this seismic shift in the market, Flow Energy signed a wholesale trading agreement in December 2015 that provides access to wholesale energy (gas and electricity) on extended credit terms and without the requirement for cash security deposits. This removes one of the biggest barriers to growth (the requirement to post collateral) and is a competitive advantage that the majority of other challenger suppliers don’t enjoy.

During 2015, Flow Energy grew from 66,000 customer fuel accounts to 100,000 customer fuel accounts. Following the wholesale agreement, Flow Energy grew from 100,000 customer fuel accounts to 250,000 customer fuel accounts by the end of 2016. The Group believes that it can continue to grow throughout 2017 and beyond by offering a compelling mix of competitive prices and excellent customer service – Flow ended 2016 as the only supplier good enough to be a Which? Recommended Provider for energy.

Flow Energy is now the primary driver for growth for the Group.

Listing - 15 Aug 2006. Market – AIM. FTSE sub-sector - Electrical Components & Equipment.

Key Fundamentals 31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 31-Dec-16
Revenue (£ m) 0.01 13.79 33.36 40.39 98.80
Pre-Tax (£ m) -5.00 -10.24 -10.10 -17.12 -45.77

Major Shareholders % Holding

LEGAL & GENERAL 17.56%
HARGREAVE HALE 8.13%
PALM VENTURES 6.39%
LOMBARD ODIER INVESTMENT MANAGEMENT 5.29%
AVIVA PLC 4.41%"

Registered Address

2nd Floor 110 Cannon Street
London
EC4N 6EU

Contact Details

Previous Names

NamePeriod
ENERGETIX GROUP PLC 2006-08-08 - 2013-06-18

Key Data

Sector
2733 Electrical Components & Equipment
Company Number
05819555
Type
Public Limited Company
Company Age
13 years
Incorporated
May 17, 2006
Status
Liquidation
Nature of Business
70100 - Activities of head offices
Year End
December 31
Accounts Due
June 30, 2018
Latest Accounts
December 31, 2016