PEN Photon Energy restructures its activities in Australia

The management board of Photon Energy N.V. (the “Company” or the „Group“) hereby announces its decision to restructure its activities in Australia and to discontinue its activities related to EPC and O&M services for Commercial & Industrial („C&I“) energy projects. The decision has been taken due to continuing margin pressure in the market and ongoing challenges to scale business volumes. In 2025 the Group generated revenues of approximately EUR 6 million and a negative EBITDA of 1.5 million from its C&I activities in Australia.
In line with this decision three subsidiaries, Photon Energy Australia Pty Ltd, A.C.N. 150 054 069, Photon Energy Operations Australia Pty Ltd A.C.N 159 386 311, and Photon Energy Engineering Australia Pty Ltd. A.C.N 159 386 295 (the “Subsidiaries”) have entered Voluntary Administration under the laws of Australia, namely Section 436A of the Corporations Act 2001, with the intention of finding a going concern solution under new ownership. The impact on the Group’s consolidated financial statements is expected to be minor. The Group will continue with its other activities in the Australian market, including remediation services focused on PFAS chemicals contamination, its investment in RayGen as well as the completion of the asset transfer transaction of the Yadnarie project to AGL. The Company will provide further updates as required under applicable laws and regulations.