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Pin to quick picksAFC Energy Share News (AFC)

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Share Price: 21.25
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TRADING UPDATES: 600 Group disposal and funding talks continue

Mon, 04th Dec 2023 17:33

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:


Upland Resources Ltd - London-based oil and gas company, which has assets in Malaysia, Tunisia and the UK North Sea - Signs letter of intent for the provision of specialist drilling crew services with an established and proven partner Vanguard Drilling Ltd. Explains Vanguard Drilling brings extensive experience in new generation onshore drilling. Chair & Chief Executive Bolhassan Di says: "This is a significant step forward for the company, we are making tangible progress and laying strong foundations towards our intended drill campaign. We look forward to increased market engagement as we scale up operations on Block SK334 in Sarawak."


Ondine Biomedical Inc - Vancouver-based life sciences company - Raises GBP2.5 million via placing and subscription. Further, in light of the demand for the placing and subscription, increases overall fundraising size from GBP2.5 million cap as commitments already received mean that there are insufficient shares to allocate to the broker option or to employee subscribers.


Genedrive PLC - Manchester-based molecular diagnostics company - Says Genedrive MT-RNR1 ID kit is now in routine use in the Trevor Mann Baby Unit at the Royal Sussex County Hospital, part of University Hospitals Sussex NHS Foundation Trust. This site is the second NHS Trust in the country to be using the Genedrive test for antibiotic induced hearing loss.


AMTE Power PLC - London-based lithium-ion and sodium-ion battery cells developer and manufacturer - Announces both resolutions were passed at its general meeting today to approve the placing agreement and the convertible loan facility. Proceeds will provide working capital until late-December 2023, by when it is anticipated that the subscription agreement will have been completed. Pending receipt of the proceeds, explains the group has sufficient working capital until mid-December 2023.


Catenae Innovation PLC - London-based digital media and technology provider using blockchain technology to support clients with operations and staff management - Settles with certain minority shareholders of Hyperneph Software Ltd in relation to the claim which was initially announced on May 17 2022. Explains the minority shareholders of HSL have agreed to pay a nominal amount, in cash, for the company's 51% shareholding in HSL. Stresses the HSL disposal will not have any material impact on the company's continuing activities.


AFC Energy PLC - Surrey, England-based provider of hydrogen-powered generator technology - Announces the unveiling of its world first modular ammonia cracker system demonstrating the production of hydrogen in the UK from ammonia procured from OCI Global. Explains the cracker system is designed to deliver 140 tonnes of fuel cell grade hydrogen per annum. Notes hydrogen from the cracker plant is targeted for sale into AFC Energy's UK H-Power generator deployments. Also expects to commence cracking green ammonia for the next stage of the project.


600 Group PLC - West Yorkshire, England-based manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - Says talks continue with a US based mid-market private equity firm over the possible sale of a majority interest in the business and assets of the group's wholly owned TYKMA Electrox and Control Micro Systems industrial laser businesses. However, agrees to terminate, without penalty and with immediate effect, the binding period of exclusivity between the two parties. This would have expired otherwise on December 27. Further, says trading has remained difficult since the time of the trading update in September and the group continues to be loss making at an operating level. Remains in talks with its lender in respect of an extension and amendment to the debt facility which matured on November 30. Points out no extension has yet been confirmed and the group continues to consider various financial alternatives. Adds audit process relating to results for year to March 31 is ongoing. Expects these results to be published prior to the end of February 2024. As a result, shares remain suspended.


Verditek PLC - London-based producer of lightweight solar panels - Calls general meeting for December 21. Plans to seek authority to allot up to 100% of the existing issued share capital and authority to allot such capital on a non-pre-emptive basis. Explains this will give the flexibility to issue new shares in the event that future required working capital is to be funded via share issuance.


Microsaic Systems PLC - Surrey-based mass spectrometry equipment developer - Announces general meeting on December 19. Seeks shareholder approval to enable proposed fundraising to take place. This requires the passing of resolutions to enable a re-organisation of the company's share capital, to provide authority to issue new shares and to wave pre-emption rights, and the adoption of new articles of association.


By Jeremy Cutler, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
20 May 2024 14:44

AFC Energy inks deal to supply fuel cells to Niftylift

(Sharecast News) - Hydrogen power generation technology developer AFC Energy announced an agreement to supply its S Series fuel cell modules to Niftylift UK on Monday.

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20 May 2024 13:48

AFC Energy to supply Europe's largest mobile work platform maker

(Alliance News) - AFC Energy PLC on Monday said it had received an order from Niftylift (UK) Ltd.

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17 May 2024 18:55

TRADING UPDATES: PetroTal buys Peru's Block 131 for USD5.0 million

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week Wednesday and not separately reported by Alliance News:

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8 May 2024 14:20

AFC Energy chooses Illuming Power as manufacturing partner

(Sharecast News) - Hydrogen power generation technology specialist AFC Energy announced the selection of North American manufacturer Illuming Power as its primary producer of fuel cell plates and stacks for its 'S Series' air-cooled platform.

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25 Apr 2024 15:47

EXECUTIVE CHANGES: Hydrogen Future Industries 25% shareholder made CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

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18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
Admiral Group PLCAGM
Beazley PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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26 Mar 2024 20:40

IN BRIEF: AFC Energy revenue falls; loss widens

AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Revenue from customer contracts falls to GBP227,000 in the year ended October 31, from GBP582,000 a year earlier. Pretax loss widens to GBP19.6 million from GBP19.5 million. Says 2024 is focussed on delivery. Chief Executive Adam Bond says: "We are well placed to build on the foundations set in 2023 and look forward to the successful deliveries of our new H-Power Generators into the hands of customers throughout the remainder of the 2024 calendar year."

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14 Mar 2024 16:53

TRADING UPDATES: FireAngel CFO resigns; ECR Minerals raises GBP585,000

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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11 Mar 2024 13:18

AFC Energy completes factory testing of H-Power generator

(Alliance News) - AFC Energy PLC on Monday celebrated the successful factory acceptance test of its 30 kilowatt generator.

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4 Mar 2024 12:43

AFC Energy generator given the nod for CE mark

(Sharecast News) - Hydrogen power generation technology company AFC Energy announced the reception of its first independent attestation of conformity certificate for a CE mark on Monday, from German certification agency TÜV SÜD for its 30kW H-Power S Series generator.

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26 Jan 2024 12:17

IN BRIEF: AFC Energy-led consortium secures funding from UK Government

AFC Energy PLC - provider of hydrogen power generation technologies - Says it has been awarded funding under the UK Government's Clean Maritime Demonstration Competition, which is funded by the UK Department for Transport and delivered by Innovate UK. A consortium led by AFC has been awarded GBP676,500, in order to design and integrate its proprietary ammonia cracker reactor technology with marine purposed, ammonia fuelled internal combustion engines. Funding starts in the first quarter, with results from the proof-of-concept demonstration expected to be published twelve months later.

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17 Nov 2023 11:58

IN BRIEF: AFC Energy buys UK hydrogen assets from Octopus Energy

AFC Energy PLC - Surrey, England-based provider of hydrogen-powered generator technology - Acquires "certain" UK mobile hydrogen storage and distribution assets from Octopus Hydrogen, part of Octopus Energy Ltd, for an undisclosed sum. Says these assets provide immediate logistics capability to supply hydrogen fuel to its growing network of H-Power Generators across the UK, and strengthen its leading position as the dominant UK hydrogen supplier "to support industry's transition to a sustainable off-grid power solution". Acquisition includes two NanoSun Pioneer mobile hydrogen refuelling stations and a hydrogen compressor for refilling. AFC says the assets will support Speedy Hydrogen Solutions, its recently announced joint venture with Speedy Hire. Adds that it does not intend to become a "capital intensive" provider but that early investment in well-priced assets will enable it to derive incremental revenue and support the maturing hydrogen generator market.

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17 Nov 2023 09:42

AFC Energy acquires mobile hydrogen assets from Octopus

(Sharecast News) - AFC Energy announced an agreement to acquire certain mobile hydrogen storage and distribution assets in the UK on Friday from Octopus Hydrogen, part of the Octopus Energy Group.

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15 Nov 2023 12:23

AFC Energy and Speedy Hire launch hydrogen generator joint venture

(Alliance News) - Speedy Hire PLC and AFC Energy PLC on Wednesday announced the launch of joint-venture Speedy Hydrogen Solutions Ltd, dedicated to the hire of hydrogen powered generator plants.

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