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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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i(x) Net Zero PLC, up 80% at 25.25 pence, 12-month range 8p-29p. The London-based energy-focused investor notes that BP PLC said it is investing USD10 million into WasteFuel, a company that converts trash and agricultural waste into low-carbon fuels such as sustainable aviation fuel and renewable natural gas. "The investment allows WasteFuel to advance its plans to develop its first waste-to-bio-methanol plant in the UAE," BP says. BP enters a memorandum of understanding with Los-Angeles based WasteFuel for bp to offtake produced bio-methanol. i(x) Net Zero invests in WasteFuel.
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Distil PLC, up 33% at 0.5p, 12-month range 0.28p-1.5p. The alcoholic spirit maker says revenue in its first quarter to June rises to GBP364,000 from GBP119,000. The company says comparative first-quarter revenue in 2022 had been suppressed as the company remodelled its business. Distil notes that the market remains uncertain in the current economic climate, particularly with the UK's planned duty increases effective from August 1. Executive Chair Don Goulding says: "We are working closely with our customers to ensure that our products are well positioned and marketed to minimise the effects on the business."
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AIM - LOSERS
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Emmerson PLC, down 35% at 2.36p, 12-month range 2p-8.09p. The Morocco-focused potash development company says a regional committee in Morocco did not approval its Khemisset project, and the application has been referred to a national committee. Maintains it has taken measures to address all concerns raised about the application, and believes the "significant economic benefits" will help the proposals receive approval. The firm says basic engineering studies are reaching completion with final reports and designs due shortly. The environmental and social impact assessment approval process "remains the key priority" for the company and "hinges on the impact of the project on water resources for the region, a sensitive issue in the context of climate change and recent droughts". "The company has invested considerable time and resources into developing robust solutions in all these areas, reflecting international best practice," Emmerson affirms.
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By Elizabeth Winter, Alliance News senior markets reporter
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