Hydrogen Utopia International (LON: HUI) has signed a memorandum of understanding with Poland-based Elkard in relation to a plastic waste processing plant producing energy. They will start looking for a suitable site and the two companies will share the costs. Hydrogen Utopia International was the best performer on the week with a 34.9% increase to 7.25p.
Invinity Energy Systems (LON: IES) is having a good week. Early in the week it announced a sale of a a 0.8MWh Invinity VS3 flow battery system to Equans Belux and then it won a California Energy Commission project as part of a consortium developing a large solar-plus-storage microgrid. Invinity Energy Systems will provide a 10MWh vanadium flow battery system. Delivery is expected in 2023. There is also a new relationship with US Vanadium, which could lead to a joint venture. The share price is 31.2% higher at 30.5p.
Rural Broadband Solutions (RBBS) edged up 0.4% to 2.32p following the announcement the previous Friday that Tiger Infrastructure Partners Fund III is investing in its two operating subsidiaries. It will invest up to £75m, £16m initially, and own 85% of a new company that will acquire the subsidiaries. Rural Broadband Solutions, which is changing its name to Global Connectivity, will receive £825,000 over three years as a partial repayment of loan to one of the subsidiaries. The existing warrants are being extended to 21 April 2024 and the exercise price reduced to 3p a share.
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Fallers
Valereum (LON: VLRM) has appointed First Sentinel Corporate Finance as corporate adviser and the share price declined by 17.2% to 13.25p.
Oscillate (LON: MUSH) has appointed Steve Winfield as a non-executive director. He is a previous colleague of Professor Sir Chris Evans, and he is a director of fellow Aquis company Igraine (KING). The shares fell 5.5% to 0.605p.
EPE Special Opportunities Ltd (LON: EO.P) had net assets of 242.3p a share. The share price was down 3.57% to 135p.
Arbuthnot Banking Group (LON: ARBB) has completed the sale of Arbuthnot Latham’s West End office. The offer was previously indicated as £60m. Chairman and chief executive Sir Henry Angest bought 25,000 shares at 820p each. The share price slipped 0.6% to 820p.