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but am getting interested nonetheless
great post! sometimes the brutul truth is needed! i usually have had good record with recovery plays but only a period of comsolidation where the share price remains in a trading range for a period of time...unfortunately im not good at spotting the VERY bottom of a share price fall. still learning how to use TNW to my advantage too...all in good time!! thanks for reply!
no...nothing like true, shan...this is an earnings play...the balance sheet offers little or no support now imv ...sure I could be polite, but that distracts from the brutal reality: the balance sheet is not that strong: dyor, all BUT the liabilities here are high...so high that there is barely any tnw (£43m-£35m 7 months ago...and how are deferred payments treated??) ......as for WC>MCAP, you need to adjust yr definition of WC if that is how you are looking at companies ...too busy to be anything other than brutal, my friend
Yep true say Nbi is clear example Pres is incidentally heading to below its working capital per share value (I think it's about £1.50). Unsure if it warrants a punt at that price though as will wait for further news
reflected yet in sp imv... usually holders are reluctant to sell early enough...hanging on grimly in hope ...look at nbi to see just how painful being in the wrong sector at the wrong time can be
Released yesterday: Greenlane Biogas has signed a distribution agreement with Sysadvance, a Portuguese company specializing in advanced gas separation systems that utilize pressure swing adsorption (PSA) technology. The agreement will allow Greenlane to distribute Sysadvance products in Canada, US and Mexico, and will see the two companies work together to integrate their systems to offer leading biogas upgrading solutions. The Sysadvance products Greenlane will distribute include the Nitrogen and Oxygen On-site Gas Generators, Methagen Biogas Purification system and other gas separations. “We believe biogas is the environmentally friendly alternative energy for the future,” said José Machado, the CEO of Sysadvance. “Both companies bring complementary innovative gas upgrading technologies to the relationship and we believe that Greenlane’s large installation base and years of experience will be instrumental in turning the individual components into a properly integrated solution. We are excited to be working with Greenlane.” Added Brent Jaklin, Managing Director for Greenlane Biogas North America, “After evaluating different PSA providers we concluded that Sysadvance and their state of the art systems would be the best partner for us to broaden our biogas upgrading market. Through collaboration, we will develop an integrated water scrubbing and PSA system for projects where combining technologies is the best solution for the customer. This is the first step in redefining Greenlane as a technology independent complete biogas solutions provider.” Sysadvance Nitrogen and Oxygen Generators produce high purity nitrogen and oxygen from compressed air. These units can be easily installed in any indoor facility and have a wide range of applications in the food, pharmaceutical, chemical, automotive, medical and wastewater treatment industries. The Methagen unit uses PSA assisted by a vacuum system to remove CO2, N2, O2 and residual H2O to produce renewable natural gas. Alternatively, the Methagen system can be designed to work with the water wash system to provide the optimal combined solution.
Jolly, good to see someone else post here. They have certainly paid a premium for some of the acquisitions, esp. the ones dependent on the oil sector. This is clearly reflected in the share price, being valued at around 25% of its recent peak at 740p. However, the acquisition of Greenlane, part of the Alternative Energy division supplies, has helped to diversify the portfolio. Some of the recent deals I posted (Navy, Biogas, etc.) are helping to offset the earnings from the oil sector. Some counties are still investing in alternative energy, despite the fall in oil price due to a number of reasons including legislations, etc. I have spoken to the company recently and they do sound more upbeat. Some positives: Very well managed company with high calibre directors. John Hayward even won the UK Ernst and Young Entrepreneur of the Year for manufacturing Deals still coming in (see previous posts) Bank facility for up to £15 million finalised with an accordion of up to an additional £10 million (with Lloyds Banking Group) City Financial Investment Company Limited increasing their holdings above 5% two weeks ago Exercise of options at 150p recently The share price seems to be moving without news recently (went up around 20% week starting 05th Oct but lost some of that gain last week). Shares remain limited and are hard to get when there is buying pressure. There is a lovely gap between 215p and 275p which needs filing.
at top of cycle...now struggling imv ...better value likely in prospect as sp drift/trend down continues... with long long down in oil sector
Greenlane Biogas gets a mention: The Global Biogas Upgrading market is estimated to be $0.26 billion in 2014 and is expected to reach $1.97 billion by 2022 growing at a CAGR of 28.65% from 2014-2022. The biogas market is estimated to drive the market over next decade due to significant growth in residential and industrial applications. Global Biogas Upgrading market is segmented by Technology and by Geography. Based on Technology, market is segmented into Water scrubbing, Pressure swing adsorption, Cryogenic technique, Membrane separation, Physical absorption, Chemical scrubbing. Biogas upgrading market by geography is segmented into North America, Europe, Asia Pacific and Rest of the World. Europe is leading the biogas upgrading market and Asia Pacific is projected to have faster growth rate. The Key players in the market include Greenlane Biogas, Cirmac, Acrona Systems, Malmberg Water, DGE GmbH, Air Liquide, Kohler and Ziegler, DMT Environmental Technology, Carbotech and Guild Associates.
Greenlane Biogas has received a contract to provide engineering services to CR&R Waste & Recycling for their biogas to renewable natural gas (RNG) project in Perris, California. Under the terms of the agreement, Greenlane’s scope of work will involve detailing a design solution to enable the RNG produced at the facility to meet the stringent Rule 30 requirements for injection into California pipelines. Rule 30 is a guideline created by the state utilities specifying the pipeline gas quality RNG producers must meet in order for RNG to be received and distributed. One standard in Rule 30 that has inhibited producers from injecting their RNG into pipelines is the requirement for the RNG to have a heating value of 990 BTU/SCF. To meet the 990 BTU/SCF criteria, a higher heating value fuel such as propane, would normally need to be blended into the RNG. This practice reduces the “green” content of the RNG and it may be cost prohibitive. Lower heating value requirements for RNG, most commonly 960 BTU/SCF, have been adopted in other states making the California requirement the most rigorous in the U.S. “We are confident that we have the right team to get our biogas compliant to California pipeline standards,” said Mike Silva, civil engineer and project manager for CR&R. “We will be the first in California to produce and supply pipeline quality RNG from organics recycling. California has a statewide goal of 75 percent recycling, composting or source reduction of solid waste by 2020 and organics recycling is a major component of this mandate.” “We are excited to be continuing to work with CR&R on the next phase of this project,” said Brent Jaklin, managing director for Greenlane Biogas North America. “With our proven expertise in biogas upgrading, we offer CR&R a solution that allows their RNG to meet Rule 30 for pipeline injection. At Greenlane we are continually challenging ourselves to stay ahead of our competition and we are fortunate to have customers like CR&R that share that same motivation.” Greenlane previously provided a Totara biogas upgrading system for the CR&R RNG facility, which is being developed in four phases. With a capacity range of 400 to 1,250 standard cubic feet (SCF) per minute, the Totara system will initially convert biogas produced from the anaerobic digestion of 80,000 tons annually of municipal organic waste into 1 million gallons of diesel gallon equivalent RNG to fuel CR&R’s fleet of waste collection vehicles. Subsequent phases will see the facility expand to process over 300,000 tons annually of organic waste to produce RNG for both vehicle fuel and pipeline injection.
Greenlane Biogas has signed a contract with Promus Energy, a project development company focusing on renewable and sustainable technologies, to provide an integrated biogas upgrading solution for a dairy farm located in Yakima County, Washington. Included in the solution is the supply of a Totara+ biogas upgrading unit and additional process equipment to deliver pipeline quality renewable natural gas (RNG). With the capacity to upgrade biogas at a rate of 1,500 SCFM, the Totara+ system will convert organic waste from a herd of 10,500 dairy cows into approximately 8,300 diesel gallon equivalents per day of pipeline grade RNG. Using an environmentally friendly process that removes impurities with water only and no chemicals, the RNG produced by the high efficiency Totara+ upgrading system has a purity > 97% methane. RNG produced at the farm will be sold to nearby transportation fleets and injected into the Williams Northwest Pipeline through a new 3.7 mile pipeline equipped with shared access points that will allow other dairies in the area to easily connect to the pipeline grid if they become RNG producers in the future. “We see great potential to apply this technology and offtake model for hundreds of dairies across the country,” said Gary Coppedge, CEO for Promus Energy. “Greenlane has proven technology and expertise behind its solution, having supplied biogas upgrading systems for anaerobic digester projects such as Fair Oaks Dairy in Indiana. And with the success we have had carrying out contracts with RNG buyers, we have verified this model can work.” Brent Jaklin, Managing Director for Greenlane Biogas North America said: “We are excited about being selected by Promus to work with them on this project which we believe can revolutionize the agricultural industry. This project further solidifies our leadership position in the biogas upgrading space and we are optimistic about the prospect of future projects with Promus in Yakima County and beyond.” Yakima County is one of the most active dairy centers in the United States and concerns about the dairies impacting water and air quality have farmers looking for ways to improve their waste management practices. In 2006, an anaerobic digester was installed at the dairy farm to convert manure from its herd to methane gas which was used for power generation. As production declined over the years, the farm partnered with Promus Energy to better utilize its organic waste by converting it into revenue generating products.
Sheffield-based Chesterfield Special Cylinders (CSC) has won a contract to supply high pressure gas cylinders for the future launches of the Ariane space rocket, with delivery of the products being timed to be used in launches from 2016 onwards. CSC has been contracted by the Italian space sector specialist Telematic Solutions to design and manufacture 15 bespoke 1,000-litre cylinders to provide the necessary helium for pressurisation of tanks implemented on the Ariane 5 launcher at the Guiana Space Centre in French Guiana. CSC MD Mick Pinder says the contract is a major milestone for CSC. “The Ariane programme is one of the world’s leading engineering projects and a single-payload Ariane 5 flight costs €150-200 million, so obviously every single component has to be 100% reliable. It is a mark of CSC’s reputation that our cylinders will be relied on in this project for some time to come and recognition of our designers’ and engineers’ skill that CSC has been chosen as an Ariane programme partner.” The CSC cylinders are due for delivery to French Guiana in Spring 2016.
Sheffield-based Chesterfield Special Cylinders (CSC) has secured over £2 million worth of new orders from navies around the world to design and manufacture bespoke high pressure gas cylinders for various submarine fleets. It has also been awarded contracts to provide cylinder systems for specialist fire-fighting operations in South Korea, further orders for cylinders to be installed on naval ships, on top of current orders from long-standing customers taking the company’s naval order book through into 2019. CSC’s specialist maintenance and repair team has also been contracted to support various friendly foreign navies’ high pressure gas systems and to provide spare parts and maintenance services. . Key elements of the new contracts have come from Germany-based industrial giants such as valve and filtration specialist SAB Schünemann Bremen and special systems company Noske-Kaeser from Hamburg. CSC MD, Mick Pinder, says: “CSC’s reputation amongst the world’s friendly navies is now second to none and we are consistently winning orders across our range of products and services. These are the world’s most demanding clients and the contracts are testament to CSC‘s precision engineering and the skill of our integrity management team. “These applications demonstrate CSC’s ability to manufacture to a wide variety of international standards, with special products in specialist applications, with some applications running up to 400 bar in working pressure.”
Some recent contracts from Chesterfiled Special Cylinders, subsidiary of PRES, which haven't been RNSed: 30th Sep: CSC secures over £2 million worth of new orders from navies around the world to design and manufacture bespoke high pressure gas cylinders for various submarine fleets 15th Sep: Chesterfield Special Cylinders (CSC) has won a contract to supply high pressure gas cylinders for the future launches of the Ariane space rocket There are rumours of contracts in other divisions, and I am trying to get more info. No wonder City Financial Investment Company Limited were adding last week.
terrible sector...and aggressively bought other businesss at wrong time
http://www.iii.co.uk/gb-business/manufacturing-engineering/pressure-technology Pres one of great British businesses selected by iii
good snippet from recent results regarding revenue and acqusitions: "which shows strong revenue growth as the benefits of recent acquisitions come through"
Roota "The Board of Pressure Technologies, is delighted to announce that it has agreed to acquire the entire issued share capital of Roota Engineering Limited ("Roota"), a long established, privately owned business, specialising in the manufacture of bespoke engineered products for the oil and gas industry. Pressure Technologies is acquiring Roota for a maximum consideration of £13.5 million (plus cash balances) comprised of an initial net cash consideration of £9.0 million (plus cash balances) with additional deferred payments of up to £4.5 million, based on the future financial performance of Roota (the "Acquisition"). "
Quadscot (Scotland) "Pressure Technologies announces that it has acquired the entire issued share capital of Quadscot Holdings Limited ("Quadscot") (the "Acquisition"), a provider of high quality computer controlled and conventional precision engineering and machining services primarily to the oil, gas and petrochemical industries."
some recent acquisitions of PRES...certainly quality companies and niche companies: Greenlane Biogas (New Zealand) "Greenlane is a leading global provider of Biogas-To-Grid ("BTG") waterwash technology, which has designed and built over 80 biogas plants around the world; · Greenlane has a global footprint with a strong presence in North & South America and Europe. These markets together with emerging markets in South East Asia and China provide significant growth opportunities; · Greenlane's applications are used to capture biogases released from multiple waste sources and its technology can be applied to turn landfill gases into biomethane;"
some excellent points mate will monitor as used to be in but moved on so i think anything around these levels will be good once the issued you raised are dealt with. atb
I think PRES seems a well run company, and the fundamentals suggest that it's perfomed strongly in recent years. I'd like to buy in at some point. It also clearly has decent shareholder support, hence the resistance and the bounces around this level. However, I stand by my sell tag (no matter how high this rises) until there is a turnaround in oil prices. I don't it's well diversified enough to fully mitigate the loss of revenue from the o&g sector. Therefore I think that at some point in the next 6 months I'll have the opportunity to buy at a significantly lower price than today's. I think many people expected a quicker rebound from oil. Now, it seems that we are commencing a second descent due to (a) strong dollar; (b) iran deal; and (c) china weakness. Shell are widely expected to announce further significant cuts to their CAPEX on 30/07/15, and I think we'll see other companies follow suit to prepare for a sustained (1 year +) period of lower commodity prices.
PoV
Second bite at a rise?! 180 levels seems good floor
Catchy monkey