Robust FY23 performance contrasts with low valuation

Today’s trading update highlights a strong performance in FY23, with revenue and operating profit ahead of market expectations. Volex looks to have exited FY23 in a robust position supported by its diverse growth markets focus and strong customer relationships, built on recognised levels of service and reliability. In common with the broader sector, the Group is seeing signs of supply chain normalisation, but still healthy underlying order positions, and reduced inflationary cost pressures. Pre-

Invinity Energy Systems - New Sale Could Build Familiarity

A sale of four VS3 Invinity flow batteries shows continued positive momentum for the company. This deal goes further as we see it building familiarity for the company’s storage technology with key members of the workforce in the North American electricity industry.

Initial Equity Trading Comments - 15 May 2023

LIBERUM: Eneraqua Technologies* - Initiation - Saving money... and the planet

RSL budget pressures impact margin expectations

FY23 results confirm strong growth, delivering adj. PBT of £10.1m (SCMe: £9.8m, FY22: £5.6m). Investors are likely to focus on the outlook however, where we materially reduce our earnings forecasts. Registered social landlord clients are reacting to significant budget pressures, with high levels of cost inflation exceeding government rent caps. In response, clients have rephased project schedules, prioritising lower cost per unit, typically lower margin, projects as they right-size capital budge

LIBERUM: ATOME Energy * - Ramp up phase

Mpac Group+ (MPAC, House Stock, 230p) - AGM update; FY23F unchanged

Morning Note – 11 May 2023

LIBERUM: Luceco* - On track: rising margins & easing comps

LIBERUM: Wincanton - FY results in line, exit from closed book transport

ATOME Energy - Strategic Stake And Fertiliser Move

US energy technology company Baker Hughes has made a US$3m (£2.4m) investment in ATOME representing a 6.6% holding. As with all such strategic stakes the information content of the investment is key, signalling a positive appraisal of the company from an industry insider. Specifically, we see the interest of this major player as pointing to the long-term development opportunities ATOME has in multiple geographies. ATOME has also announced that it will add a back end process in the Villeta design

LIBERUM: ATOME Energy * - Significant expansion of Villeta, BH joins the register

Hybridan Small Cap Feast - 23 Feb 23

23rd May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Hybridan Research: Sector Review: Critical minerals for UK - mining and battery recycling: 09-05-2023

Virgin mining: Energy security and decarbonisation are driving the race in the sourcing of critical minerals from the natural world. This has contributed to the revival of exploration activities in the US, Europe and to a lesser degree the UK. For example, the global identified lithium resources increased from 40m tonnes in 2015 (the Paris Agreement year) to 97m tonnes in 2023, at a CAGR of 12%, according to the U.S. Geological Survey data. For example, there was no identified lithium resources

Webinar: “The Impact of US IRA on Clean Energy Companies”

The US Inflation Reduction Act will have sweeping impacts on the energy industry and its participants. We’ve invited four companies from the Active Net Zero Universe to share how they see the industry evolving, helping investors identify the major risks and opportunities. Companies presenting are EQTEC (EQT LN), Foresight Group (FSG LN), Invinity Energy Systems (IES LN) and Velocys (VLS LN). The Active Net Zero Universe uses the same selection methodology as the Solactive Active Net Zero Global