The UK government has announced its long awaited hydrogen strategy and also launched a consultation on funding hydrogen production. The strategy confirms support for both green and blue hydrogen production as well as for the replacement of natural gas in around 3m homes. Subject to the consultation, the price differential between fossil fuel solutions and hydrogen will be subsidised by the use of contract for differences based on the existing UK support for offshore wind. As with the earlier ene
Companies: DRX ITM PHE SAE SIT VLS
Simec Atlantis (SAE) have confirmed that their largest shareholder, SIMEC UK Energy Holdings Limited are no longer in receivership.
Companies: SIMEC Atlantis Energy Ltd.
Joiners: Draper Esprit (GROW.L) has moved from AIM to the Main Market Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Northcoders, an independent provider of training programmes for software coding, to join AIM. It offers a range of training and software development solutions to individual and corporate customers. The Company's offering includes 'bootcamp' training courses, government funded apprenticeships and bespoke training courses and software development solutions. The Com
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While SIMEC Atlantis continues to face uncertainty over its major shareholder, the full year results show that it is still making progress across the business with tidal progress in the UK, France and Japan and the GHR hydro business still contributing usefully. Further uncertainty over timing at the Uskmouth conversion project is unhelpful but the successful burn and milling tests show that the fundamentals remain strong. Options on creating a negative emissions project at the site with the add
Simec Atlantis have published their FY20 (December year end) results. Key highlights include: Revenue, £12.2m, (vs £7.7m forecast), Operating Profit (£29m) and Net Income of (£19.6m)
SAE have entered into a partnership agreement with Remediiate Ltd to demonstrate their patented technology at the Uksnouth power plant.
SIMEC Atlantis’ partnership with Remediiate moves the Uskmouth project into new territory, potentially creating a much needed negative emissions technology solution based on biomass energy carbon capture and storage (BECCS). The biosequestration option provided by Remediiate offers a viable offtake for CO2 without the need for external CO2 infrastructure. The company is targeting early deployment and could be carbon neutral by 2025 and negative by 2030.
SIMEC Atlantis has made a key submission as part of the process of moving supporting work at Uskmouth through planning. The submission highlights the existing recommendation from the local planning officer and the fact that there have been no objections from statutory consultees. The company has also announced that its AR500 tidal turbine has now been approved as an official power generation technology in Japan. This opens up further opportunity for turbine sales with Kyuden Miria Energy and com
The International Energy Agency (IEA) published its Net Zero by 2050 roadmap. This confirms work by others showing high demand for renewable energy, storage, electric vehicles and hydrogen if we are to reach a position of global net zero emissions by 2050. Given historic criticism of the IEA for failing to recognise the role of renewable energy, we see this report as an important indicator of how far expectations are shifting in favour of clean energy.
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
While SIMEC Atlantis faces policy driven uncertainty it continues to make progress and there are signs for optimism in our view. In particular the progression of CCUS options at Uskmouth make the project attractive from a national policy point of view, potentially delivering a negative emissions solution while providing flexible generation and spinning reserve.
The decision to call in the planning application for certain work on the Uskmouth conversion project creates obvious uncertainty as to outcome and timing. In our view the case for the project remains strong and the company’s inclusion in the South Wales Industrial Cluster can only help now that the terms of reference have been widened to a national perspective.
The successful installation and running of SIMEC Atlantis’ pilot project in Japan demonstrates the company’s leadership in the tidal energy space in our view. Offshore work was completed in just five days and the turbine has generated 10MWh in its first ten days. Success here opens up the possibility of further work in Japan. While the MeyGen tidal project and the Uskmouth waste to energy conversion dominate the investment case in the near term, further expansion of tidal provides additional opt
SIMEC Atlantis Energy (“SAE”) has welcomed a report by Newport City Council (“NCC”) planning officers regarding the Company's planning application for the February Planning Committee meeting and their recommendation that planning permission be granted with conditions. The “proposed development” in this planning application comprises fuel storage, material handling and other ancillary infrastructure to be constructed external to the existing power station building.
New CEO Graham Reid brings a skill set appropriate to the next stage of the business as the key Uskmouth project moves towards delivery. With continuity provided by the retention of Tim Cornelius as a senior advisor, we see these changes as leaving the business well placed in this critical year.
SIMEC Atlantis Energy (“SAE”), as part of a process of orderly succession planning, has appointed Graham Reid as the Company's new Chief Executive Officer and a Director of Atlantis, effective 18th January 2021. Tim Cornelius has agreed to take up a new role as a Senior Advisor to SAE and will consequently resign his position as CEO, effective the same date.
Research Tree provides access to ongoing research coverage, media content and regulatory news on SIMEC Atlantis Energy Ltd.. We currently have 48 research reports from 5 professional analysts.
Companies: Ceres Power Holdings plc
Strix hasn’t missed a beat over the last eighteen months. Despite the pandemic and the resultant lockdowns, it was able to marginally grow earnings in FY20. The COVID impact on the income statement is barely noticeable, a year of low growth rather than the collapse in profitability experienced by others. This was topped off by the Capital Markets Day in November when the challenging five-year growth target of doubling revenue was set.
Companies: Strix Group PLC
Companies: Kier Group plc
The Velocys interims show the recognition of sales to the Red Rock Biofuels project with a good gross margin indicating the value in these sales. With recent commercial progress in Japan we see this as helping to underpin the value of these developments. Overall, the company is making progress across the board and both the policy and wider industry background, notably in aviation, remain highly supportive.
Companies: Velocys plc
Companies: Safestyle UK Plc
Companies: Judges Scientific plc
Oil declined amid Russia's plans to boost upcoming overseas oil sales and as the dollar rallied. Futures in New York ended the session nearly 1% lower on Friday. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency. Despite weaker prices on Friday, US benchmark crude futures gained more than 3% this week due to tightening supplies. In the US, crude inventories
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Plant Health Care has released its interim results in line with expectations following its trading update in July. In light of this, we do not make any changes to our numbers. We maintain our view that given current market trends, our forecasts remain well underpinned with considerable upgrade potential. Reiterate Buy.
Companies: Plant Health Care PLC
Velocys, the next generation sustainable aviation fuels (SAF) specialist, has reported interim results this morning (23 September). The company's first-half period to end June saw an encouraging rise in strategic activity, as well as a noticeable step up in general news flow surrounding the future needs of the aviation sector for renewable fuels as the industry begins its recovery from the pandemic. We note that this positive news flow has continued into the current Q3 period. The results demons
First half performance indicates that the turnaround is almost complete with Safestyle reporting the best half year financial performance since H2 2017. Revenue of £73.0m is up 73.4% yoy but more importantly increased 13.3% on the H1 ’19 performance. The recovery in revenue picked up pace during the half, after four months it was 10.9%. Gross margin increased 639bps to 32.3% on HY19 as average selling price increased 11% despite a negative movement in mix. This resulted in adj. profit before tax
Judges Scientific is a group focused on acquiring and developing companies in the scientific instrument sector. Despite lingering covid induced friction to global trade, Judges has delivered an excellent first half with order books rebuilding nicely. Revenue increased by 14.7% (organic +5%) to £43.0m (H1-20: £37.4m) which, after the continued sensible management of the cost base (and reduced international travel), yielded an adjusted pre-tax profit of £8.5m (H1-20 £6.4m), a 31.5% YoY increase, a
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
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Esken now has financing in place for the recovery. The Group has raised £55m in fresh equity and secured a £125m convertible loan from Carlyle Group, who become a strategic investor in London Southend Airport. Strategy is focused on two core divisions. The Energy division, which supplies wood biomass to green power plants is profitable and has performed robustly. Trading in Aviation remains subdued. Cargo handling at London Southend has grown strongly but passenger traffic has been hit hard by C
Companies: Esken Limited
Xeros has reported H1 2021 results for the six-month period up to end June 2021. Revenues are broadly inline but cash is slightly behind expectations due to ramp up in XFiltra investment. These results are not reflective of the longer-term potential of the Group. Despite some inevitable further pandemic-induced delays, commercial progress is encouraging, with the potential of XFiltra looking particularly exciting. We reiterate our 400p/share price target.
Companies: Xeros Technology Group (XSG:LON)Xeros Technology Group Plc (XSG:LON)
Billington provides structural steel and safety solutions to the construction industry. Despite sector wide challenges of the last 18+ months, Billington's interim results to June 2021 reflect a solid operational and trading performance. H1 revenue increased 15.1% YoY to £37.7m with adjusted PBT rising 24.6% to £0.76m. Billington commenced the year with full order books. Moreover, order intake has been strong, meaning the order book has remained at ‘consistently high levels', with the macro back
Companies: Billington Holdings Plc
