Corre Energy's valuation dropped below €10 million

Corre Energy, a clean-tech company focused on renewable energy, is set to delist from the Irish stock exchange next week. The firm has seen its valuation drop significantly, from over €200 million to under €10 million. Corre Energy specializes in renewable energy storage and the production of green hydrogen. It aims to solve the challenge of variable energy output from sources like wind farms, which sometimes require fossil fuels to maintain a constant power supply. The company, co-founded by Irish resident Keith McGrane, went public on the Euronext Dublin exchange in September 2021, raising €12 million from investors. Initially, Corre's prospects seemed bright, especially after securing a major contract with Eneco in late 2022. However, by early 2024, Corre's share price began to decline sharply. Investors grew frustrated with the company’s lack of detailed announcements about its projects. The resignation of a key executive amid a tax investigation also contributed to the drop in confidence. Despite some brief recoveries, Corre continued to face financial challenges. By March 2025, the company had only €2.5 million left in cash and announced plans to delist, citing a need to seek funding solutions outside of public markets. Shareholders approved the delisting, and Corre's last day of trading will be March 27. The firm is hoping that reverting to a private company will attract new investment to support its ambitious energy projects in the future.