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Opportunity Laura. Both parties get what they want, just one gets a really good deal. Short term drop but it will be a big red day nonetheless. 70+ % held by II holdings so once the 111m shares are sold back to the market, it’ll back up above the 0,45 price. Opportunity for many to average down / take a position when they feel comfortable imo. This isn’t the first, second, third time VDTK had done this…… it’s a game for the opportunist
OHS
I give up trying to explain any trades on AIM....... Especially when 2 trades this morning totalling less than £8k wipes about £350k off the value of the company with a 9% drop!
OHS
I also think that trades can often not be an entirely true reflection of what is actually being bought/sold. Granted the drop over the last week+ heavily suggests sells but I’m also of the kind that perhaps it’s more of a structured and organised movement of holdings between 2 parties. Todays first and last trade are a prime example of this imo - 480,000 shares @ 0.803, one marked as a buy and one marked as a sell…..?
OHS
Hi Roger, I've been in and out of VDTK a few times and have often shared your frustration. I'm currently on the fence regarding the latest MOU RNS as you'd think the SP would have reacted quite differently to what we are seeing! That said, it may well be that things are happening behind the scenes as that type of RNS isn't normally met with a drop like we are seeing imo - the values certainly don't warrant a fall from 1.2 ish a mere couple of weeks ago to this level - again, this is imo. I'm currently researching/searching for a direct link between the latest RNS and 3Sun. 3Sun Gigafactory is a solar panel manufacturing company and is based in Catania, Sicily (note the MOU RNS references Southern Italy and East Sicily as the location of the proposed JV factory with NZV. The reason I'm trying to connect the dots (and I could be way off the mark / clutching at straws) is by asking myself why they have specified this location and also this line in the RNS, "Scaling production up, NZV and Verditek will transform the social, environmental, and economic outlook for the region in Southern Italy." - this is a bold statement considering there is already a huge factory presence in this region so I'm asking myself, is their a possible collaboration being formed? I haven't found any reference to 3Sun producing flexible light weight panels so perhaps VDTK have something to offer? Just a thought I'm exploring....
Here's the link to 3Sun:
https://www.enel.com/media/explore/search-press-releases/press/2023/02/3sun-unicredit-and-sace-560-million-euro-project-financing-with-green-backing-for-solar-panel-gigafactory-in-italy
OHS
Morning all - any thoughts on why QED has dropped and not TOM? I'm reading a lot of chat and rightly disgruntled PIs saying the Utah outcome doesn't bode well for QED but it hasn't affected TOMs current SP so perhaps the drop today isn't actually a true reflection of this news, more so another MM opportunity to manipulate to accumulate.....?
OHS
Not the RNS I was expecting but I’ll take it!! That sounds like a pretty good one to me
I'm looking forward to any official update and to see if any values are put on this latest MOU and how much will be recognized as revenue as stated in the report:
"As a result of these collaborations, the value of order intake in the first half of 2023 is approx. £395,000 versus £232,000 in the first half of 2022. The majority of the order intake will be recognized as revenue in the second half of 2023."
OHS
Schlum - I've been following Verditek for a while now. Seems they have lots in the pipe line and some good incorporations of their products with the likes of the metrotile eQube. I literally found this latest news whilst doing my Monday morning research search and came across the article! May see an RNS later today or this week but I don't think it's necessary to report every contract / MOU is it? Not many shares about as I'm struggling to find any to add to my pot!
OHS
Nice bit of news:
https://evriderz.com/news/evriderz-and-verditek-plc-partnership-for-solar-charging-stations
OHS
Roger - I want to say no based on the last report but then again, they do allude to revenue streams that may increase cash pot:
"Events after the reporting period are described in Note 26 to the financial statements. Following receipt of the proceeds of the bond issue and repayment of the Crowd for Angels bonds, the Group had cash of approximately £290,000 at the end of May 2023."
Note 26: "In May 2023 the company raised £500,000 before expenses by the issue of Secured Convertible Loan Notes"
But the Going Concern states this:
Going Concern
"The Directors believe that the Company and the Group as a whole have adequate resources to continue in operational existence for the foreseeable future. There is a risk that the Group may need to raise additional funding in the next 18 months to fund ongoing operations, and therefore acknowledge that there is material uncertainty around going concern in this respect".
And.....
"As a result of these collaborations, the value of order intake in the first half of 2023 is approx. £395,000 versus £232,000 in the first half of 2022. The majority of the order intake will be recognized as revenue in the second half of 2023."
OHS
Evening Strangy - as you may recall from the recent Report, SAE stated that they were in “Advanced stage discussions with another developer to co-develop a 120MW BESS” (I believe this to be ENSO Energy but awaiting confirmation). They’re also currently in the planning process and said they hoped to be able to provide further details on this in the coming months with a target of a favourable planning outcome in early 2024. Additionally, Heads of Terms for a land lease option with a developer for a second BESS project have been agreed - this could be the 120MW or another one? To me, it looks as though the first BESS was an opportunity for an instant cash injection to keep them afloat and to continue in operation whilst other projects materialise over time - so a co-development sounds like it will be revenue based as opposed to a lease based payment perhaps.
OHS
If you click on the trades tab and go to yesterdays trades you’ll see there was one trade at 16:35 for 7999 shares (£95) @ 1.17p. That will explain the false closing price being 1.17p as all other trades were circa 1p-1.05. Bit naught really as that price was way above the actual bid/ask but sometimes happens and then sites like this and H&L track the last trade as the closing SP
OHS
SARS - SP hasn’t dropped - it’s the same price as yesterdays close - not sure why it’s registering 12% down above - LSE must have opened with an incorrect value so when it corrected to actual SP, it looks like it’s dropped
OHS
Morning Strangy - I keep spotting that you refer to the CfD for AR5 being pivotal and important to SAE. Whilst anything is better than nothing, only £10m was ringfenced for tidal stream this time round. Obviously it will be good to know if SAE have something for the longer term pipelines, but current focus for the short to medium term is on upscaling MeyGen for the additional 28MW they were granted in AR4, which will be for 2025/2026 and 2026/2027. BESS seems to be the hot topic at the moment for the government and regional planning authorities, and their drive to bettering the environment so the added focus of complimenting MeyGen with a BESS site would tie in nicely with an expected reduced CfD in AR5. All in my opinion of course - happy to discuss/debate
OHS
Ref 09:09 post - Exactly. Selling ATES was not a loss to the company at all. They reduced their workforce overheads by c. 80%, they no longer need to find any funding to manufacture turbines, that’s up to Proteus now (or others). Proteus will rise their investment funding to manufacture their AR turbines and likely one of the following scenarios:
1. As SAE hold a 21% stake in Proteus they may provide some of the finance for the turbine builds through a capital raise
2. Any additional turbines sited at MeyGen by Proteus (or others) will pay a site lease (similar to current Uskmouth BESS project) and Proteus get all revenue…..or….
3. Additional Turbines are sited at MeyGen and SAE receive 21% of revenue stream from the 28 MW CfD, either with a lease charge or not
Sure there’s more scenarios but this is a starter. ATES developed the turbine tech but is no longer SAEs focus to be a developer of the tech. They no longer to be. It’s been developed, it’s been sited and it’s generating revenue - no need to raise astronomical capital to purchase a turbine when they can still monetise revenue from MeyGen with very little financial contribution
OHS
Missed the part about the 287MW BESS being at MeyGen, not Uskmouth
OHS
Just been re-reading the Annual Report and decided to post a quick 'at a glance' condensed version of the points that will keep me actively interested and invested in SAE for the short to medium term:
Uskmouth 230MW BESS:
1. £10m now paid to SAE for the development milestones and financial close of the project
2. Construction to commence later this year
3. Recently signed a variation to the contract for an additional 100MW of GENERATION - they worded this as 'generation', not additional energy storage so I am interested to see what this means
4. In the process of securitising the rental income stream over the 30 years life of the project - At the date of the Report, they had received an offer and are targeting finalisation of the transaction by end of 2023
Uskmouth 120MW BESS:
1. Advanced stage discussions with another developer (Enso Energy? - see screening report for this company reference) to co-develop a 120MW BESS. Currently in the planning process and SAE hope to be able to provide further details on this in the coming months with a target of a favourable planning outcome in early 2024
2. Heads of Terms for a land lease option with a developer for a second BESS project have been agreed
Additional BESS:
1. It was stated that 2 other BESS projects are being discussed - assuming the 120MW is one of them, there is another one potentially in the pipeline so more news to come?
2. Working on a BESS project of 287 MW with a grid connection date of 2027
3. SAE have identified the potential for c.1 GW of BESS projects at the Uskmouth site
MeyGen:
1. SAE have a 21% interest in Proteus Marine Renewables - The Group is working well with Proteus on MeyGen 1A as well as with regard to the potential tidal turbine supply for MeyGen 2 - possibility of the additional turbines required to increase MeyGen from current 6MW capacity to 34MW after the AR4 CfD of 28MW
2. AR5 results due before 8th Sept 2023 - £10m ringfenced for tidal stream from an overall Pot 2 value of £35m
OHS
Very much looking forward to some further details on the land lease for Uskmouth BESS, especially after reading this a couple of months back:
“Gerald Eve are delighted to invite proposals on a battery energy storage system (BESS) ground lease investment. BESS is a critical pillar in the energy transition and essential to reaching Net Zero. The project is being developed by an experienced, well-funded, ESG investment manager and will occupy a 9-acre site on a 30-year groundlease at an initial rent of £821,000 subject to annual indexation.”
https://www.linkedin.com/posts/delia-batt-5b43b9b3_net-zero-investment-opportunity-gerald-activity-7053747659169239040-OSAP?utm_source=share&utm_medium=member_ios
OHS
Great confidence boost:
“In previous years, the Company satisfied its short and medium-term funding requirements through a combination of equity and debt. Management’s forecast through to 31 July 2024 anticipate revenues from trading will INCREASINGLY meet the working capital requirements of the Group.”
OHS
Now that is a very welcomed RNS. The Report itself is stacked with a load of additional details and pipeline plans also. Quick glimpse highlights for me were:
287MW BESS plan at MeyGen
Recently signed a variation to the 230MW for an extra 100MW
Head of terms for land lease options are agreed with the 120MW BESS developer (ENSO?) - Emphasis on ‘co-developing’
2 other BESS projects are being discussed - assuming the 120MW is one of them, there is another one potentially in the pipeline - This will bring more upfront land parcel payments for SAE, further monetisation of land leases based on £/MW capacity as well
OHS