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Private company

Pacific Green Technologies Inc.

Pacific Green Technologies Inc. is an American hazardous waste management company, incorporated in Delaware.1 It is headquartered in Dover, Delaware.1

Last updated Oct 21, 2026.

Overview

  • IndustryHazardous Waste Management1
  • HeadquartersDover, Delaware1
  • Incorporated inDE2
  • Business address8 The Green, Suite #10212, Dover, De 199012
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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On June 13, 2012, we changed our name to Pacific Green Technologies Inc. and effected a reverse split of our common stock.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

59.8%Gross margin4
111.9%Operating margin4
3.2%Net margin4
90.4%Revenue growth, 20244
8.7%Return on equity4
-$18.4MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue40¢$5.9M
  • Research and development1¢$162.0K
  • Other costs39¢$5.6M
  • Interest1¢$98.0K
  • Income tax16¢$2.4M
  • Profit3¢$459.0K

Out of $14.5M in revenue.4

Financial statements

Revenue567894$14.5M in 2024+629% since 2018
0$50.0M$100.0M$150.0M2018: $2.0M$2.0M20182019: $2.1M$2.1M2019+4%2020: $130.1M$130.1M2020+6172%2021: $52.6M$52.6M2021−60%2022: $15.4M$15.4M2022−71%2023: $7.6M$7.6M2023−51%2024: $14.5M$14.5M2024+90%
Gross profit567894$8.7M in 2024+8408% since 2018
0$20.0M$40.0M$60.0M2018: $102.2K$102.2K20182019: $139.8K$139.8K2019+37%2020: $51.6M$51.6M2020+36790%2021: $10.6M$10.6M2021−79%2022: $10.9M$10.9M2022+2%2023: $1.8M$1.8M2023−83%2024: $8.7M$8.7M2024+381%
Operating income567894$16.3M in 2024
-$20.0M-$10.0M0$10.0M$20.0M2018: -$3.4M-$3.4M20182019: -$16.9M-$16.9M2019+390%2020: $10.0M$10.0M20202021: -$5.7M-$5.7M20212022: -$11.2M-$11.2M2022+96%2023: -$10.6M-$10.6M2023−5%2024: $16.3M$16.3M2024
Net income567894$459.0K in 2024
-$20.0M-$10.0M0$10.0M$20.0M2018: -$4.2M-$4.2M20182019: -$17.9M-$17.9M2019+327%2020: $10.4M$10.4M20202021: -$1.8M-$1.8M20212022: -$10.8M-$10.8M2022+494%2023: -$11.3M-$11.3M2023+5%2024: $459.0K$459.0K2024
Fiscal year2018201920202021202220232024
Revenue$2.0M5$2.1M6$130.1M7$52.6M8$15.4M9$7.6M4$14.5M4
Cost of revenue$1.9M5$1.9M6$78.6M7$42.0M8$4.6M9$5.8M4$5.9M4
Gross profit$102.2K5$139.8K6$51.6M7$10.6M8$10.9M9$1.8M4$8.7M4
Research and development$789.7K5$98.0K7$62.9K8$14.0K4$162.0K4
Operating expenses$22.1M9$12.4M4$34.7M4
Operating income-$3.4M5-$16.9M6$10.0M7-$5.7M8-$11.2M9-$10.6M4$16.3M4
Interest$349.5K5$6706$6.0K7$40.3K7$98.0K4
Income before tax-$11.8M4$2.4M4
Income tax$2.2M7$248.0K7-$2.3M9$1.2M12$2.4M4
Net income-$4.2M5-$17.9M6$10.4M7-$1.8M8-$10.8M9-$11.3M4$459.0K4
Earnings per share-$0.416$0.237-$0.048-$0.239-$0.244$0.014
Earnings per share (diluted)-$0.416$0.206-$0.048-$0.239-$0.244$0.014
Shares (weighted, basic)47.3M shares947.3M shares451.0M shares4
Shares (weighted, diluted)47.3M shares947.3M shares451.0M shares4

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What it owns

What Pacific Green Technologies Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.5M4 Mar 31, 2024$1.7M8 Mar 31, 2022−8.6%
Accumulated depreciation$805.0K4 Mar 31, 2024$492.0K8 Mar 31, 2022+63.6%
Property and equipment, net$710.0K4 Mar 31, 2024$849.0K4 Mar 31, 2023−16.4%
Operating-lease assets (leased space)$1.4M4 Mar 31, 2024$350.0K4 Mar 31, 2023+291.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.2M4 Mar 31, 2024$1.2M4 Mar 31, 2023+263.9%
Deposits held (banks)$14.9M4 Mar 31, 2024

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$1.0M4 Mar 31, 2024$6.7M4 Mar 31, 2023−84.4%
Finite-lived intangibles, gross$36.4M4 Mar 31, 2024$36.4M9 Mar 31, 20230%
Accumulated amortization-$10.2M4 Mar 31, 2024-$9.2M9 Mar 31, 2023−10.7%
Finite-lived intangibles, net$1.0M4 Mar 31, 2024$6.7M9 Mar 31, 2023−84.4%

Properties, in its own words

Our registered business address for correspondence is Suite #10212 8 The Green, Dover, DE 19901. Our telephone number is (302) 601-4659.

We have an operations headquarters, based at 4 Albemarle Street, London, W1S 4GA, United Kingdom.

The rest of Item 2

The Company has short term or rolling leases for offices in Syndey and Melbourne, Australia.

The Company has a lease for office space in Shanghai, China, with a term through May 2028. In addition, the Company previously owned an office property in Shanghai that was not utilized by Company personnel. This property was sold, as disclosed in Note 24 - Subsequent Events.

Item 2 of the 10-K filed Jun 20, 2025.3

Leadership

Who has led Pacific Green Technologies Inc., and when. Pick a name to see everywhere that person has worked.

President

  1. Jordan Starkman2013

Chief financial officer

  1. Richard Fraser-Smith2021–2023
201520202025
Board members and other officers (4)

Timeline

  1. Aug 26, 20258-K Regulation FD disclosure19
  2. Aug 7, 20258-K Regulation FD disclosure20
  3. Aug 5, 20258-K Regulation FD disclosure21
  4. Jul 11, 20258-K Listing notice or transfer22
  5. Jul 7, 20258-K Regulation FD disclosure23
  6. Jun 30, 20258-K Executive or director change; Regulation FD disclosure24
  7. Jun 20, 20258-K Earlier financial statements no longer reliable25
  8. Mar 19, 20258-K Regulation FD disclosure26
  9. Feb 20, 20258-K Regulation FD disclosure27
  10. Dec 12, 20248-K Earlier financial statements no longer reliable28
  11. Dec 3, 20248-K Regulation FD disclosure29
  12. Aug 21, 20248-K Regulation FD disclosure30

Filings

74 filings to the SEC since October 2021: 3 annual reports, 11 quarterly reports, 38 major events, 7 insider forms, 15 other. The latest 20:

  1. Aug 26, 20258-K EDGAR
  2. Aug 7, 20258-K EDGAR
  3. Aug 5, 20258-K EDGAR
  4. Jul 14, 202515-12G EDGAR
  5. Jul 11, 20258-K CURRENT REPORT EDGAR
  6. Jul 11, 202510-Q QUARTERLY REPORT EDGAR
  7. Jul 11, 202510-Q QUARTERLY REPORT EDGAR
  8. Jul 11, 202510-Q QUARTERLY REPORT EDGAR
  9. Jul 7, 20258-K CURRENT REPORT EDGAR
  10. Jun 30, 2025NT 10-K NOTIFICATION OF LATE FILING EDGAR
  11. Jun 30, 20258-K CURRENT REPORT EDGAR
  12. Jun 20, 20258-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  13. Jun 20, 202510-K ANNUAL REPORT EDGAR
  14. Jun 20, 20254 EDGAR
  15. Mar 19, 20258-K EDGAR
  16. Feb 20, 20258-K EDGAR
  17. Dec 12, 20248-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  18. Dec 3, 20248-K EDGAR
  19. Aug 21, 20248-K EDGAR
  20. Aug 14, 2024NT 10-Q NOTIFICATION OF LATE FILING EDGAR

The 74 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 1, 2021Fresh Air Investments (Canada) Ltd.10% ownerBuy3,250$1.50$4.9KForm 4
Nov 17, 2021Fresh Air Investments (Canada) Ltd.10% ownerBuy5,770$1.70$9.8KForm 4
Nov 16, 2021Fresh Air Investments (Canada) Ltd.10% ownerBuy8,700$1.70$14.8KForm 4
Oct 19, 2021Fresh Air Investments (Canada) Ltd.10% ownerBuy340,000$4.30$1.5MForm 4

From Forms 4 filed with the SEC.

SEC filer profile

How Pacific Green Technologies Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPacific Green Technologies Inc.1
  • CIK0001553404
  • Employer ID (EIN)36-49661633
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsMarch 311
  • Industry code (SIC)4955 Hazardous Waste Management1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address8 The Green, Suite #10212, Dover, DE 199011
  • Mailing address4, Albemarle St, London, X0 W1S 4GA1
  • Phone00 1 302 601 46591
  • Shares outstanding57,045,724 as of Jul 9, 202511
  • Public float$28.5M as of Mar 31, 20253
  • AuditorGRANT THORNTON LLP, London, United Kingdom PCAOB ID 1337; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJul 3, 20121
  • Filings275 in all: 8-K (101), 10-Q (38), 4 (36), NT 10-Q (19), UPLOAD (13), 10-K (12), CORRESP (9), NT 10-K (8)1
    All 25 form types

    3 (7), 10-Q/A (5), 10-12G/A (4), 10-K/A (4), 8-K/A (4), 3/A (2), 4/A (2), S-1/A (2), 10-12G (1), 144 (1), 15-12G (1), 424B3 (1), 425 (1), 5 (1), EFFECT (1), NTN 10Q (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Jun 20, 2025
    Quarterly report (10-Q) Jul 11, 2025
    Latest 8-K (8-K) Aug 26, 2025

Securities registered for trading

ClassSymbolExchange
Common StockPGTKNONE

From the cover page of the 10-K filed Jun 20, 2025 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Pacific Green Technologies Inc. names in Item 1A of its 10-K filed Jun 20, 2025: 29 risks under these headings, as written.3

  • Risks Related to Our Business and Our Industry
  • Our limited operating history and our rapidly evolving industry make it difficult to evaluate our business, the risks and challenges we may face and future prospects.
  • Our projections are subject to significant risks, assumptions, estimates and uncertainties. As a result, our projected revenues, market share, expenses and profitability may differ materially from our expectations.
  • We depend on a limited number of customers for the majority of our revenue, and the loss of any one of these customers could substantially reduce our revenue and impact our liquidity.
  • Our business model depends on acceptance of the quality of our BESS projects by our customers, retaining existing customers, and the success of our BESS execution strategy.
  • The technological quality of our BESS systems may not remain competitive in a fast-changing market. Any reduction in quality of our products compared to competitors would impact our ability to attract investors to our projects and achieve our pricing targets.
  • Our project development activities may not receive required permits, property rights, transmission arrangements, and financing or construction of projects may not commence or continue as scheduled, all of which could increase our costs, delay or cancel a project, and have a material adverse effect on our profitability.
  • BESS development costs that cannot be recovered from project disposals may cause adverse impact on our profitability and liquidity.
  • The majority of our BESS profits comes from periodic project disposals. Delays to completing disposals may increase our borrowings requirements, increase our interest payable expenses, and affect our liquidity position.
  • We operate in highly competitive BESS industry and there is increasing competition. Many of our competitors may have significantly more financial and other resources than we do and if we do not compete effectively, our competitive positioning and our operating results will be harmed.
  • Our BESS projects are reliant on battery supply chains based in China, and an adverse change in geopolitics may impeded timely and efficient delivery of the materials required to successfully deliver the projects.
  • Our BESS projects are often disposed of along with associated project financing. Delays to procuring third-party financing or if the cost of such financing exceeds our estimates, would adversely affect our ability to competitively sell projects to investors.
The other 18 risks
  • The economic benefit of our BESS systems to equity investors depends on market dynamics of local electricity markets, and market decisions made by the electrical grid regulators. These external factors may cause future projects to become less viable.
  • We are at risk that our Environmental Technologies will not perform to expectations.
  • Competition within the Environmental Technology industry may prevent us from becoming profitable and lead to further impairments of our intangible assets.
  • The development and expansion of our business through acquisitions, joint ventures, and other strategic transactions may create risks that may reduce the benefits we anticipate from these strategic alliances and may prevent us from achieving or sustaining profitability.
  • We are dependent upon key members of our senior management team for execution of our business plan.
  • We are heavily dependent upon the supply of goods and services from suppliers and partners in China.
  • Changes to global tariff policies may harm our supply chain
  • Adverse economic conditions
  • Exposure to currency exchange rate fluctuations results in fluctuations in our cash flows and operating results.
  • Cyberattacks and IT security breaches could cause significant damage to our business, product performance, brand and reputation, and compromise confidential information we hold on our systems.
  • Risks Related to Our Financial Position and Capital Requirements
  • We may not be able to secure a development loan facility
  • We may not be able to secure additional financing to meet our future working capital or capital needs due to changes in general economic conditions.
  • We have identified material weaknesses in our internal control over financial reporting. Failure to maintain effective internal control over financial reporting could have a material adverse effect on our business, financial condition, results of operations, and stock price and may adversely affect investor confidence in our company and, as a result, the value of our common stock.
  • Legal, Regulatory and Litigation Risks
  • We are delinquent in our SEC reporting and may be subject to penalties or enforcement action by the SEC
  • Risks Related to our Stockholders and Shares of Common Stock
  • Issuance of equity securities will dilute the ownership percentage of our existing stockholders and may decrease the market price for our common stock.
  • We do not intend to pay dividends and there will thus be fewer ways in which you are able to make a gain on your investment.
  • Because the SEC imposes additional sales practice requirements on brokers who deal in shares of penny stocks, some brokers may be unwilling to trade our securities. This means that you may have difficulty reselling your shares, which may cause the value of your investment to decline.
  • Financial Industry Regulatory Authority (FINRA) sales practice requirements may limit your ability to buy and sell our common stock, which could depress the price of our shares.
  • General Risk Factors
  • We may have risks associated with the security of our information technology systems.

Legal proceedings

We know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

The opening of Item 3, Legal Proceedings.3

Sources

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