October 2026
Largest Energy Equipment Public Companies in the UK
Benchmark revenue and EBITDA valuation multiples for public comps like
Ceres Power Holdings, ITM Power, Hunting, Ashtead Technology and H-Power.
 | Ceres Power Holdings PLC is a UK- based technology solutions provider. It is one of the developers of clean energy technology, fuel cells for power generation, and electrolysers for green hydrogen. Its SteelCell technology uses the existing infrastructure of mains natural gas & is manufactured using commodity materials, such as steel. It mainly caters to the automotive industry. Among its other markets are transportation, commercial, & light industrial sectors. The group established a technology position in solid oxide fuel cell (SOFC) power systems and developed solid oxide electrolysis (SOEC) to demonstrate it at a megawatt scale. | $4 | +17% | $886M | $660M | 15.2x | (13.0x) | ||
| ITM Power PLC designs and manufactures integrated hydrogen energy systems for energy storage and clean fuel production. The company is also involved in the research and development of scientific and engineering projects; the development and manufacture of prototype products; and the sale of electrolyzer products such as HGas, HFuel, HPac. It offers a range of services including construction, consulting, and other services. Its primary geographic markets are the United Kingdom, the Rest of Europe, Germany, and with maximum revenue from the United Kingdom. | $1 | +15% | $825M | $582M | 16.8x | (9.3x) | ||
| Hunting PLC is a precision engineering group, which provides quality-assured products and services for the energy, aviation, defence, medical, and power generation sectors. It operates through five geographic segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East, and Africa; and Asia Pacific, of which Hunting Titan derives maximum revenue. Hunting has a diversified portfolio of technologies, products and services that address many areas of the energy and non-oil and gas supply chain. Its products and services include: Perforating & Logging Systems; Connection Technology & OCTG; Subsea Technologies; Advanced Manufacturing; Well Intervention Equipment; Well Test & Process Systems; Electronics; Trenchless & MWD; Organic Oil Recovery; and Others. | $5 | +18% | $770M | $830M | 0.8x | 7.0x | ||
| Ashtead Technology Holdings PLC is a subsea equipment rental and solutions organization supporting the installation, inspection, maintenance, repair, and decommissioning of infrastructure across the offshore energy industry. Its service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure. The company operates in the following four geographic regions, which have been determined as the Group’s reportable segments. The operations of each geographic region are similar: Europe, the Americas, Asia-Pacific, and the Middle East. | $7 | +62% | $562M | $718M | 2.7x | 6.7x | ||
| H-Power PLC is a provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions. Its products include decentralised ammonia cracker systems and fuel cell generators designed to supply low-carbon hydrogen and power for industrial and off-grid applications. The company focuses on the commercial rollout of its hydrogen and power technologies and the development of modular ammonia cracker systems and fuel cell-based power solutions. Its technologies are intended to provide alternatives to conventional diesel-based power generation systems. | $0 | +10% | $142M | $121M | 728.4x | (4.3x) | ||
| Invinity Energy Systems PLC operates in the manufacturing of vanadium flow battery systems and their related installation and other services. Its vanadium flow batteries are a form of heavy-duty, stationary energy storage, used in high-utilization applications such as being coupled with industrial-scale solar generation for distributed, low-carbon energy projects. The company's flow battery systems are ideal for commercial and industrial sites, grid network infrastructure projects, and off-grid applications, either standalone or alongside renewable energy such as solar PV. It generates the majority of its revenue from the sale of Battery systems and associated control systems. | $0 | -11% | $136M | $125M | 11.5x | (4.0x) | ||
| Median | $3 | +16% | $666M | $621M | 13.4x | (4.1x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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