Enapter
Makes highly efficient hydrogen generators with patented Anion Exchange Membrane (AEM) technology and Energy Management Software.
Launch date
Employees
Market cap
CAD179m
Enterprise valuation
CAD232m (Public information from Sep 2024)
Share price
€4.35 H2O.F
Company register number PI0191252
Saerbeck Nordrhein-Westfalen (HQ)
Financials
Estimates*
| EUR | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenues | 2.1m | 8.4m | 14.7m | 31.6m | 35.5m | 70.7m | 146m |
| % growth | (31 %) | 308 % | 74 % | 115 % | 12 % | 99 % | 106 % |
| EBITDA | (3.0m) | (7.6m) | (10.7m) | 3.1m | (8.0m) | (6.5m) | 18.0m |
| % EBITDA margin | (146 %) | (90 %) | (73 %) | 10 % | (23 %) | (9 %) | 12 % |
| Profit | (3.6m) | (8.7m) | (13.0m) | (7.2m) | (17.8m) | (18.9m) | 6.5m |
| % profit margin | (172 %) | (103 %) | (88 %) | (23 %) | (50 %) | (27 %) | 4 % |
| EV / revenue | 280.1x | 64.5x | 25.7x | 8.8x | 4.3x | 2.5x | 1.4x |
| EV / EBITDA | -192.3x | -71.4x | -35.4x | 89.7x | -19.2x | -27.9x | 10.9x |
| R&D budget | <1m | <1m | <1m | <1m | - | - | - |
| R&D % of revenue | 11 % | 4 % | 3 % | 1 % | - | - | - |
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
| N/A | $4.0m | Seed | |
| N/A | $4.7m | Series A | |
| N/A | €5.3m | Series B | |
| N/A | N/A Valuation: €125m 41.7x EV/LTM Revenues -125.0x EV/LTM EBITDA | IPO | |
| N/A | €6.2m | Post IPO Equity | |
| N/A | €18.2m | Post IPO Equity | |
* | €9.3m | Grant | |
| N/A | €30.0m | Post IPO Equity | |
* | £1.0m | Grant | |
* | €20.0m | Post IPO Equity | |
* | €25.0m | Post IPO Debt | |
| Total Funding | CAD35.6m | ||
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