Mast Energy Developments PLC has released its unaudited interim results for the six months ended 30 June 2025, reporting a sharp increase in revenues and strong progress across its portfolio.
The company generated £727,488 in revenue during the first half of 2025, representing a 260% increase compared with the same period last year. Much of this growth was driven by performance at the Pyebridge site, which produced and sold around 7.3 GWh of electricity over the 12 months to June 2025. Notably, Pyebridge delivered a record monthly revenue of £201,000 in January 2025.
Looking ahead, Mast secured a £5 million investment agreement with Powertree to fully fund development of the Hindlip 7.5MW flexgen site. This project has already locked in a 15-year T-4 Capacity Market (CM) contract valued at approximately £6.3 million.
In addition, the company successfully completed a £5 million equity fundraise, with potential to raise a further £10 million, strengthening its balance sheet and providing funding flexibility for future expansion.
Overview of key highlights during the interim period and to date:
· Total revenues generated for the first 6-months of 2025 came to c. £727,488, an increase of c. 260% compared to the comparative period ending 30 June 2024;
· Pyebridge generated and sold c. 7.3 GWh of electricity during the 12-month period ending June 2025;
· Record monthly revenue of approximately £201,000 was achieved at Pyebridge in January 2025, driven by market conditions and increased generation capacity;
· Pyebridge successfully bid for and secured additional new Capacity Market (“CM”) contracts, which combined with its existing CM contracts will ensure uninterrupted guaranteed gross profit income until 2029, and is planning to bid for and secure a final T-4 15-year contract in the upcoming CM auction;
· Executed £5 million investment agreement with Powertree to fully fund its Hindlip 7.5MW flexgen site through construction to commercial operations.
· Hindlip successfully bid for and secured a T-4 15-year CM contract with a total cumulative guaranteed gross income value of c. £6.3 million (before inflation increases);
· During July 2025 the Company implemented a share capital reorganisation and completed an Equity Fundraise raising £5 million in gross proceeds at PLC level, with the potential to raise and additional £10 million, materially strengthening MED’s market appeal, balance sheet, and providing capital for the growth of its projects portfolio;
· Signed a binding definitive agreement with Green Light Energy to acquire the exclusive rights to an initial portfolio of c. 25 MW of flexible generation development projects, as well as a new project development framework agreement just after period end in July 2025; and
· Signed a heads of terms for a new JV with C-Zero Markets to develop, construct, and operate power supply applications for the rapidly growing AI datacentre industry.
With revenues scaling rapidly and new funding in place, Mast Energy Developments is positioning itself for further growth in the UK’s flexible power generation market.
