Amte Power shares rise 26.92% to 82.5p on selection of site for MegaFactory
Amte Power said it has identified Dundee, Scotland as the preferred site for its first MegaFactory. The facility will enable Amte to ramp up production of lithium-ion and sodium-ion battery cells.
The MegaFactory will increase Amte's manufacturing capacity to over 8m cells per year, enabling it to respond to the "high levels of interest it has seen in its differentiated high added value cells." Amte expects the plan to be operational by Q3 2025.
Amte Power will provide a trading update on 23 August 2022.
Atome Energy shares rise 17.26% to 98.5p on new contract for its Villeta project in Paraguay
Atome Energy said it has signed a front-end engineering design (FEED) contract with ANDE, Paraguay's state-owned national electric company, for the first phase of its 60 MW Villeta hydrogen project facility. The contract is in relation to the civil and electromechanical works needed for the adaptation of ANDE's Villeta substation, Atome said.
The contract includes soil studies, topography and selection of electrical/electromechanical equipment with cost estimation and timetable for work. This workstream is expected to be delivered by the end of September 2022.
Olivier Mussat, CEO, commented: "The entry into the FEED contract is the next step in what will in due course culminate in an aggregate of 400MW of green hydrogen and ammonia production in Paraguay, the first phase of which at Villeta is expected to commence production by Q1 2025."
CMC Markets shares fall 19.97% to 246.5p on higher expected operating costs
CMC Markets said it now expects operating costs to be 5% than its previous annual guidance.
The company elaborated: "Higher operating costs are the result of a combination of higher personnel and non-personnel costs including higher professional fees and software costs associated with expansion projects, as well as the impact of the weaker pound".
CMC also reported 59% lower pre-tax profits YoY to £92.1m in the 12 months to March, as high market volatility during the initial stages of the pandemic had resulted in very high trading volumes and profits accordingly.
Nuformix shares jump 35% to 0.68p on narrowed pretax loss in 6 months to 31 March
Nuformix reported a pretax loss of £1.3m for the year ended March 31, compared to £1.4m the previous year. Operating loss was also down to £1.3m from £1.4m the previous year. The reported loss was driven mainly by costs related to further development of pipeline assets, the company said.
Net assets at year-end was £4.7m compared to £5.6m in 2021, including £464K cash at bank, compared to £1.6m in 2021.
"The strategy of the Group is to continue to optimise value from its existing assets while maintaining tight control of costs. In particular, the fundraise with Lanstead has enabled the Group to continue to advance and exploit the current assets within the portfolio through additional R&D and business development activities as set out above" said non-executive directors Julian Gilbert and Maddy Kennedy.
OTAQ shares correct up 15% to 11.5p on continued volatility after pretax loss widened
OTAQ said yesterday its FY22 pretax loss increased to £2.1m from £726K due to "increase in administrative expenses to £4.14m (2021: £3.09m) as well as the reduced gross margin of 47.2% (2021: 56.8%) resulting from the change in the sales mix". Still, revenues increased to £4.3m compared to £4.1m the year before.
OTAQ shares plunged 32.2% on the day of the announcement, but today corrected up 15%.