(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
----------
AIM - WINNERS
----------
Inspirit Energy Holdings PLC, up 67% at 0.051 pence, 12-month range 0.02p-0.09p. Says further testing of heat recovery system in Poland shows use of Helix Accelerator resulted in near doubling in the power output achieved to 64 kilowatts using the same automotive engine as the phase one trial. Says further tests will be carried out before the end of 2022, but to date the performance of the system has exceeded internal expectations. "Thereafter, Inspirit will seek to enter into a trial phase with Volvo Marine. The board are also actively pursuing commercial discussions with other parties that are active in the commercial automotive sector," it says.
----------
AIM - LOSERS
----------
Trackwise Designs PLC, down 38% at 11.82p, 12-month range 10p-266.5p. Says in advanced talks with UK EV OEM customer to replace product manufacture and supply agreement with a new pact. The customer last month said it expected lower production volumes in 2022 compared to previous estimates. "The wider impact of the lower production volumes is that additional funding will be required and the company is reviewing a number of options for additional funding with its advisers and will provide further updates in due course," it says.
----------
Naked Wines PLC, down 32% at 99.35p, 12-month range 95.04p-837p. Late Tuesday says it is mulling plans to improve profit and cut costs as it grapples with weaker demand with pandemic tailwinds unwinding. Naked Wines says it is "reviewing potential operational and financial plans for the next 18 months". The Norwich, Norfolk-based online wine seller also says Pratham Ravi, a non-executive director, stepped down effective immediately. Ravi was appointed in August and is an analyst at Punch Card Capital LP, one of online wine retailer's largest shareholders.
----------
ITM Power PLC, down 26% at 113.35p, 12-month range 113.05p-527.75p. Says Graham Cooley has decides to step down as chief executive after 13 years in the role. The update comes as the energy storage and clean fuel reported annual results. Revenue for the year to April 30 rises to GBP5.6 million from GBP4.3 million, and pretax loss widens to GBP46.7 million from GBP27.6 million. "Continued investment in capability and capacity will see losses increase in the near term, with an improved position in the medium term," the company says.
----------
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Inspirit Energy (INSP)
Naked Wine (WINE)
Itm Power (ITM)