Lithium-ion battery cell technology developer AMTE Power (LON: AMTE) has chosen the site for a new 0.5GWh battery production facility. The share price jumped 32.3% to 86p. The facility will be in Dundee and could open in the third quarter of 2025. At full capacity, the facility could generate annual revenues of more than £200m. Scottish Enterprise and other funding bodies could contribute up to £190m of the cost of the facility. The rest will come from debt and equity. AMTE is developing three different battery cells with automotive battery cells the most advanced. AMTE raised £12.95m at 175p a share when it joined AIM in March 2021.
ATOME Energy (LON: ATOM) has entered into a front-end engineering design (FEED) contract for its proposed hydrogen production facility in Paraguay. The work relates to the adaptation of a substation and should be competed in September. The overall FEED contract still has to be awarded. The share price rose 17.9% to 99p.
Professional services provider Ince (LON: INCE) is raising £7m at 5p a share and taking on an additional £1.6m loan from its bank following the recent acquisition of broker Arden Partners. Ince has been operating at the limit of its debt facilities. There was a cyber attack which management estimates cost £4.9m. An insurance claim has been lodged for this amount, but that could take 12 months to settle. The total bank facilities will be £17m and insurance proceeds would be used to pay off loans. Annual cost savings of up to £5m are being targeted. Revenues are recovering, although Arden had a quieter than expected first half. The placing price is a 58% discount to the previous market price, which fell 52.1% to 5.75p.
Virgin Wines (LON: VINO) reported a 6% dip in full year revenues, although it increased its share of the online wine market from 6.1% to 8.4%. Revenues are still well ahead of levels in 2018-19, suggesting that Covid-related gains are being partially retained. Customer recruitment was up 37% in the fourth quarter. Forecast revenues have been trimmed and pre-tax profit is likely to be flat this year. The share price fell 7.6% to 67p, which is less than one-third of the 197p flotation price in February 2021.
Trackwise Designs (LON: TWD) has confirmed further delays in its electric vehicle contract, although it will receive compensation for these delays. The Stonehouse improved harness technology (IHT) facility will be fully up and running by the end of the year and there are additional contracts that could be won, although most would not reach significant volumes until 2024. Debt remains a concern, particularly in current markets. finnCap expects net debt to reach £14.5m by the end of 2022. Management is confident that it can secure hire purchase and other facilities to cover the additional finance. The uncertainty is likely to remain a drag on the share price, which fell 10.1% to 40p.
Bushveld Minerals Ltd (LON: BMN) says group vanadium production was 4% higher in the first half at 1,641mt, even though second quarter production fell. The full guidance is that production will be at the lower end of the current range of 4,200mt and 4,400mt. Annualised steady state production should reach more than 5,000mt by the end of 2022. First half weighted average production cash cost was 6% higher at $28.32/kg. The share price declined 8.6% to 5.65p.
Ex-dividends
Calnex Solutions (LON: CLX) is paying a final dividend of 0.56p a share and the share price fell 0.5p to 163p.
Quixant (LON: QXT) is paying a final dividend of 2.4p a share and the share price is unchanged at 149.5p.
Tristel (LON: TSTL) is paying a special dividend of 3p a share and the share price has risen 24p to 355p.