Opportunity to acquire a provider of physical & digital infrastructure which enables gas networks to extend asset life, reduce costs, upgrade and increase efficiency - Project Catalyst

The Opportunity

The Company enables gas distribution networks to extend asset life, reduce emissions, and increase operational efficiency through its intelligent pressure control technology. This comprises AI/ML cloud-based software combined with innovative hardware. The Company’s technology reduces the leakage of methane – a potent greenhouse gas – from gas distribution networks, increases the grid capacity to enable green gas such as biomethane to feed in and reduces operating costs.

The Company already has proven commercial installations in the UK and Sweden and is running paid pilots in France, Spain, Portugal and Romania.

Per the latest forecast, a £1.6m investment in the Company would generate £2.7m EBITDA in FY29, increasing to £8.9m EBITDA in FY31.

The Company has recently transitioned from a technology validation into a commercial deployment phase. The Company faces capital constraints following the cancellation of a major contract with a key customer, due to a dispute between the customer and their regulatory body. Consequently, BTG has been appointed to run an accelerated sale process.

Key Points

The Company, founded in 2015, is based in Southampton. Following success in the UK, the Company has expanded into the growing European Market. With the Company’s technology applicable globally, there is a $6bn and expanding market opportunity.

The Company is early into a fast-growing market with high barriers to entry, resulting in limited competition. The Company’s innovative products are patented, and technology has been developed in close collaboration with customers. The Company has recently completed a £6m SIF (OFGEM Strategic Innovation Fund) project to complete development of its AI/ML software and IoT communication devices. The resultant products and applications are being purchased and deployed by customers in the majority of sales opportunities.

The Company has achieved over £2m revenue annually since FY24 and reached peak revenue of £2.4m in FY26. It is positioned for success over the medium to long term with revenue projected to grow to £30.9m and EBITDA to reach £8.9m by FY31.

Due to a dispute with the regulator (OFGEM), the Company’s main customer cancelled an expected deployment programme. This has caused a significant near-term revenue and liquidity impact. However, the customer remains actively engaged. The Company also has an attractive £7m pipeline of other opportunities stretching to 2028.

Expression of Interest

We encourage any interested parties to submit information requests to BTG Eddisons to fill any gaps not covered by our CIM. Our intention is to answer any questions quickly which will provide sufficient details to allow potential investors to provide indicative expressions of interest no later than midday on Friday 9th October 2026.

Offers are invited for the shares in the Company, however in the absence of a deliverable share deal, we will consider the optimal business and assets solution.   

For  further information please download the Notice of Sale attached 

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