eEnergy has signed an exclusive partnership with EO Charging to launch eCharge, a service aimed at creating the ‘UK’s largest public-sector charging network’.

Digital energy services company Energy entered into an exclusive partnership with electric vehicle (EV) tech solutions provider, EO Charging to create eCharge, a new service that will install at least 50,000 EV chargers by 2030. The joint venture is aimed at using eCharge to create the UK’s largest public-sector charging network.

The parties have agreed to collaborate in order to introduce and develop EV charging opportunities in the education sector, with EO serving as the equipment supplier and eEnergy serving as the project charge point operator, both working towards the goal of strengthening their relationship through customer cross-referrals.

eCharge

eCharge reportedly aims to make EV charging accessible to thousands of drivers and businesses battling with the energy price crisis, by combining EV charging with clean energy procurement, energy management and high-impact energy efficiency solutions with no initial payment.

Neil Campbell will be Managing Director of eCharge, who previously held the same role with price comparison site MoneyExpert.

eEnergy

According to the company, over 600 schools and 2,000 other companies in the UK already use eEnergy’s energy-saving technologies. eCharge will just be an extension of the vast services Energy already provides to the education and public sector.

eEnergy currently manages 12,153 metres in the public sector, including the NHS, emergency services, and housing associations.

The education industry is a huge untapped market that can assist the UK’s move to low-carbon transportation more quickly. The UK has 32,000 educational institutions with roughly 3.4m people as staff or students in the education sector.

eEnergy will reportedly install EO manufactured chargers in the public sector to help the Government’s 2030 target of 145,000 extra charge points in the UK, coinciding with the imposition of a ban on new internal combustion engines.

Harvey Sinclair, CEO, eEnergy said, “The government has rightly set ambitious net zero targets, and EVs will play a fundamental role in this strategy. However, ensuring everyone has access to reliable charging, especially for those who cannot plug in at home, poses considerable challenges.”

“Like many employers, schools face a growing demand for EV chargers just as energy costs reach record highs. Our ambitious rollout will make life easier for teachers and other drivers by offering an affordable and accessible alternative and gives eEnergy an exciting new product category in a high growth market. “

eEnergy shares gained 2.4% to 10.5p following the news of its new joint venture with EO Charging.

Polymetal saw its share price rise 10.2% to 373.6p in early morning trading on Wednesday following an update to investors regarding the impact of sanctions on the mining group’s operations.

The mining firm has been through an incredibly turbulent period after Russia’s invasion of Ukraine on 24 February 2022, with the group’s spiralling conditions ending with its removal from the FTSE 100 on 21 March 2022.

The company confirmed that targeted sanctions against its operations remained unlikely but not impossible, and that it has planned ahead of any impact proactively.

Polymetal reported a net debt increase to $1.9 billion on 29 March against $1.6 billion in December 2021, which the group attributed to seasonal working capital increase and accelerated procurement.

The firm stated that it has been using Russian banks for shot-term capital financing while it awaits additional liquidity in Q2 2022.

Polymetal reportedly has $0.4 billion in cash and cash equivalents held by non-sanctioned entities alongside $0.5 billion of available undrawn credit lines.

The company confirmed that its operations in Russia and Kazakhstan are currently continuing undisrupted, and its projects in advanced stages of development are reportedly on track to be commissioned on schedule.

Polymetal added that its POX-2 project will experience a 3-6 month slippage due to logistical challenges and its early stage projects will be delayed by a year.

The firm’s Pacific POX project was noted to be suspended indefinitely while the company look for a potential re-site alternative for the venture in Kazakhstan, and its Greenfield exploration budgets are set to be cut 50%, which will predominantly impact its junior joint-ventures.

Polymetal confirmed that its Brownfield explorations schedule and volumes will remain unaffected.

The mining company also added five new directors to its board earlier this month and is scheduled to confirm shareholder approval at its AGM on 25 April.

“It is my opinion that investors, private and institutional, that collectively control over 75% of this company deserve a Board that will lead the company through this turbulent time, preserving and hopefully rebuilding the value of their investment as well as protecting the livelihood of thousands of employees, contractors, suppliers and other stakeholders”, said Riccardo Orcel, Chair of the Board.

Leading international developer of high quality and effective rapid tests Abingdon Health signed two Memorandums of Understanding (MoU) with Vatic Health and DeepVerge earlier today.

Vatic Health

Abingdon Health has signed a MoU with Vatic Health, a renowned diagnostic technology innovator. The MoU constitutes a commercial partnership between Abingdon and Vatic for the development and production of a range of lateral flow tests in the field of infectious disease, similar to those used in detecting Covid-19.

The initial focus of the MoU will be to create novel influenza lateral flow tests using Vatic’s patented technology platform, which recognises proteins through their surface biological processes.

Following the ratification of the MoU, Abingdon and Vatic intend to enter into a longer-term commercial agreement where both parties will develop infectious diseases lateral flow tests, with Abingdon exclusively manufacturing these tests. Both parties will collaborate on the commercialization of these innovative new products.

Alex Sheppard, Chief Executive Officer, Vatic Health Limited, said, “We are excited to be deepening our collaboration with Abingdon Health and we look forward to extending the use of our proprietary technology from COVID-19 into other areas of unmet need to further address inequalities of access to health information through self-tests.”

DeepVerge

DeepVerge is an ‘environmental and life science group’ that develops and applies artificial intelligence (AI) and internet of things (IoT) technology for the analysis and identification of bacteria, virus and toxins.

Abingdon Health announced the signing of a MoU with DeepVerge on Tuesday which will lead to a commercial agreement for the development and manufacturing.

The MoU was signed to allow DeepVerge and Abingdon’s technology to be integrated in the future.

Abingdon will manufacture the new products, while DeepVerge will commercialise them through its global production, sales, marketing, and distribution channels.

“DeepVerge’s business model is built on collaborating and cooperating with partners such as Abingdon Health who have technologies and large production capacity to deliver solutions to major societal problems such as water contamination and the identification of human biomarkers for a range of health conditions,” said Gerard Brandon, CEO of DeepVerge.

Abingdon Health’s shares lifted 9% to 11.7p following the announcement of 2 MoUs being signed.

Premier African Minerals saw its share price fall 4.5% to 0.3p in late afternoon trading on Tuesday after the company announced the completion of its Zulu Lithium Definitive Feasibility Study (DFS) funding.

Premier African Minerals reported its subscription agreement with Suzhou TA&A Ultra Clean Technology to raise £12 million prior to expenses at an issue price of 0.4p per new ordinary share in order to continue its Definitive Feasibility Study (DFS) at the company’s Lithium and Tantalum project.

The news followed Premier African Minerals’ announcement regarding the DFS funding on March 8 2022, in which CEO George Roach welcomed the subscription from Suzhou TA&A:

“I am delighted to accept this Subscription from Suzhou TA&A, and particularly that this makes available to Premier a wealth of expertise in this industry whilst aligning future offtake and mine development with Yibin Tianyi Lithium Industry Co. Ltd.”

“[The company] is a major producer of Lithium Hydroxides, financier and take-off partner for the Manono Lithium and Tin project and who have completed long term spodumene off-take agreements with Pilbara Minerals Limited.”

“I look forward to welcoming a new board member who will be nominated by Suzhou TA&A and active involvement from Suzhou TA&A in our DFS, particularly in the area of test work and flow sheet development.”

The company today announced the pending appointment of geologist Dr Luo Wei to its board of directors for Premier African Minerals, Zulu Lithium Mauritius Limited and Zulu Lithium Private Limited.

CEO George Roach commented positively on the outcome of the DFS funding in the reported update.

“I reiterate my welcome to our new shareholders and to Dr Lou Wei, and express my appreciation for the confidence in Premier and Zulu,” said Roach.

“Premier has already taken steps to expedite issues associated with resource definition needed to complete mine optimisation and test work and we will continue to accelerate all aspects of the DFS underway.”

Genedrive shares gained 10% to 27.5p on Tuesday after the UK’s National Institute of Clinical Excellence (NICE) issued a new Medtech Innovation Briefing (MIB) on the Genedrive hearing loss test, MT-RNR1.

The near-patient molecular diagnostics company’s price rose despite Gendrive’s reported poor performance in their half-year results earlier today.

Genedrive recently launched its new Genedrive System for Antibiotic Induced Hearing Loss (AIHL). The test will identify the cause of life-long hearing loss through screening for genetic mutation.

The trial for AIHL was CE marked in December 2019 and completed performance trials at Manchester University NHS Trusts in June 2021.

The company deployed the Genedrive MT-RNR1 test in the UK and Ireland earlier this month to Manchester University Hospital Trust for routine use.

Genedrive reported no revenues in H2 2021 compared to £0.4m in 2020 due to delays in product development.

Genedrive saw an operating loss of £2.8m compared to £2.9m in 2020 with effective management of costs leading to a decline in R&D costs from £2.3m to £1.9m. The loss prevailed from the previous year due to the stockpiling of Genedrive96 SARS-COV-2 Kits.

The company incurred a cost of £14k due to interest charged for leasing the business’ principal premises.

The company noted a pre-tax loss of £2.8m in 2021 compared to £671k profits in 2020.

Genedrive is now debt-free and has a cash balance of £6.3m in 2021 compared to £3.8m in 2020, benefitting from £1.2m of R&D tax credit.

The company’s loss per share was 3.3p in 2021 compared to earnings per share of 1.9p in 2020.

David Budd, CEO, Genedrive, said, “We have achieved some key milestones in this period, namely the CE marking of our Genedrive POC COVID-19 test, which was closely followed by a number of distribution agreements with key territories.”

“We have also made significant further progress with our AIHL system, establishing initial installations and generating significant evidence and support to make commercial progress.”

Budd believes the company is “well positioned to deliver on shareholder value” as the company has carefully managed its cash position to continue expanding its portfolio.