Active Energy highlights growth in UAE venture in first half

Active Energy Group PLC (AIM:AEG, OTCID:AEUSF) reported its first revenue from commercial operations in the first half of 2026 as its UAE digital infrastructure business moved into production, though the period ended with a cash balance of just £170,504. Revenue for the six months came in at £159,885 (versus nil a year earlier) following the April energisation of the 3.5MVA Ghummud facility, while the loss widened to £855,712 from £429,746 as operating activity increased alongside higher depreciation and professional costs.

"Our ambition has become much bigger than one project," CEO Paul Elliott said, reflecting the company’s shift from single-site activity to a broader, scalable pipeline of infrastructure developments in the UAE.

Operational and financial details

• Revenue: £159,885 for H1 2026, up from nil in the prior-year period, driven by the Ghummud facility energisation in April.
• Loss: £855,712 for the six-month period, widening from £429,746 a year earlier due to expanded operations and increased depreciation and professional fees.
• Cash position: £170,504 at period end.
• Fundraising: A placing in May raised £1.3 million gross (approximately £1.14 million net).
• Post-period performance: Ghummud generated US$319,637 in the three months to July 31.
• Pipeline: Progress on a proposed 8MVA Liwa facility and ongoing discussions with Bitdeer Middle East Technology regarding a potential strategic collaboration.

Active Energy said it is in talks with a private investment fund about a potential debt facility to support near-term liquidity, though no binding agreement has been signed. The board’s going-concern assessment assumes completion of that funding, underscoring reliance on external capital as the group scales its UAE operations.

Operational momentum extended beyond the half-year, with the Ghummud site contributing materially to post-period receipts. The company emphasised that commercial operations at Ghummud drove the first recognised revenue and that the plug-and-play approach it has pursued in the UAE is intended to accelerate rollout of additional sites.

Outlook

Management is positioning Active Energy as an emerging regional infrastructure player rather than a single-project operator. Paul Elliott has publicly described the business ambition as exceeding a lone project, and the company continues to pursue both organic deployment—through the proposed 8MVA Liwa facility—and strategic relationships, such as discussions with Bitdeer Middle East Technology.

Near-term financial stability will depend on securing the discussed debt facility or further equity funding; the May placing provided a buffer but left the company with a modest cash balance at period end. If funding assumptions are met, the board expects to continue scaling the UAE pipeline and translating operational momentum at Ghummud into sustained revenue growth across additional energised facilities.