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Why what’s happening on Thursday?

This may sound bonkers but the share price is flying. If you look thought recent weeks it has been 95% buys 5% sells. The reason the share price hasn’t gone up is because Octopus Investments are having to wind down / reduce their holdings of various companies. They have literally been selling tens of thousands of shares and the share price hasn’t gone down at all because private investors are snapping these up at a discounted price. Once Octopus Investments are done reducing their share holding the share price will dramatically shoot up. I wish I knew when that would be but I don’t. In the meantime I am using this prolonged period of discounted share price to top up my portfolio with every pay check.

AJP great product finds. I don’t know how you find so many retail products with Itaconix ingredients but you always deliver.

Elsol agree we are now past the inflection point and the only way is up.

What we are seeing is real evidence with these new partnerships where the company is creating the infrastructure to become a $20m annual turnover company over the next couple of years.

John’s dream of becoming a $100m company may well happen in the next 10 years when you consider the political environmental headwinds they have successfully flown through during the past 12 months by making their green products perform better and cost no more than non-green competitors. Those headwinds will in future become tailwinds when future governments reignite environmental priorities. Very interesting that here in the U.K. the political party after Reform who is picking up the most votes is the Green Party. Just because current leaders have placed the environment on the back burner does not mean that people have stopped caring for the environment and politics and markets are very cyclical.

I didn’t know that Seneca Partners were invested in Itaconix. Have I missed this, was anyone else aware?

https://senecapartners.co.uk/portfolio/itaconix-plc/

My AI search assistant says “Yes, polyitaconates can be used in vehicle care products due to their properties as chelating agents and scale inhibitors, which help improve cleaning performance and protect surfaces. They are suitable for applications like automotive cleaning and maintenance.”

I just noticed that Biesterfeld are promoting Itaconix in a couple of places on their website including under VEHICLE CARE.

They reference Is this a new application. It is listed under their vehicle care section and has a slightly different write up including “They provide less metal and glass corrosion than conventionally used chelating agents.”

This begs the question is this a new application?

Https://www.biesterfeld.com/en/us/product/polyitaconates/

Any thoughts on the implications of the Supreme Court ruling. Sounds like good news on the surface. Wonder if affected companies will be receiving compensation? Could be messy. I imagine POTUS is not a happy man and there will be a reaction coming soon.

These OTC trades make no sense at all. Today there is a trade at $1.625 and a trade at $1.20. And we thought the spread was bad here!

No I am not Marcus. I was just clarifying what Elsol meant when he said about the previous investor raise. I do expect the price to get to that level (255p) or higher by the end of this year. The broker target of 325p seems logical to me but that may come next year.

Private Investor Evening: 25 February 2026 - Ilika, Poolbeg Pharma, Kelso, First Tin

Wed 25 Feb | London

Join other private investors in person at this Yellowstone Advisory Private Investor Evening to hear the investment case from a number of listed companies. Each company will present for 15-20 minutes followed by 5 minutes of Q&A.

Time & Location

25 Feb 2026, 17:30 – 20:00

London, 25 Charterhouse Square, London EC1M 6AE, UK

About the event

Join other private investors in person at this Yellowstone Advisory Private Investor Evening to hear the investment case from a number of listed companies. Each company will present for 15-20 minutes followed by 5 minutes of Q&A. There will then be an opportunity to have further discussions with the different management teams over drinks and canapes.

The companies presenting are: Ilika, Poolbeg Pharma, First Tin

Ilika, Graeme Purdy, Chief Executive Officer

Ilika is a global expert in the development of solid-state battery technology for electric vehicles, medical devices and consumer appliances. The Company's pioneering next-generation technologies aim to provide scalable, affordable alternatives to conventional batteries, to industries which need to incorporate a smaller, lighter, and safer power source in their products. The Company has two product lines. Its Stereax batteries are designed for powering miniature medical implants, industrial wireless sensors and Internet of Things (IoT) applications and the Goliath large format batteries are designed for EV cars and cordless appliances. Through its licensing business model, Ilika supplies its IP portfolio to both OEMs and manufacturing partners in exchange for a license fee and future royalties. Stereax is licensed to US-headquartered medical device manufacturer Cirtec Medical.

Buzz, unlike their competitors, Ilika have successfully taken a SSB to market with their Stereax battery. This is actually a much harder achievement as the regulations on medical devices are far more stringent.

Ilika will also successfully take Goliath to market. I look forward to your posts when that occurs.

Just to clarify for newbies that Elsol means we will soon be back to the 5.1p price in old money (£2.55 in today’s money) as per the last investor round, not a new investor round.

Thanks AJP. I’m quite relaxed about the date. We know it’s all going well and they are working their socks off between conventions and converting those leads into sales. So whether it’s mid March or late March doesn’t really matter.

With octopus investments out the way for now, I can see the share price moving up quite quickly over coming days and weeks. I was quoted 125p in Interactive investor this afternoon. Anyone still waiting on the sideline needs to move quick if they want shares under 130p.

Buzz - battery life in mobile phones is one of the top selling points. Imagine an iPhone or Samsung device with double or triple the battery life. It may cost more but would give a massive marketing advantage.

Neon - yes samples have been sent to the defence industry. This is covered in their January presentation.

Unless they go for the week after the big European conference which would also make sense. Either way I expect this to be a really big progress update and a great opportunity to ask questions. I would prefer to submit my own questions so that they are phrased using my own language. Key points for me will be around new IP, the new dishwasher tablet formulation, the new relationship with Biesterfeld group, whether there have been any merger - acquisition approaches.

Good to see the share price finally moving up today. Presume that the latest round of octopus shares have now been soaked up so the price can resume its upward trajectory.

Great spot AJP. Does this help explain why Itaconix exports to Europe have gone through the roof? It’s the first time I’ve heard of Itaconix having a partnership with Biesterfeld Group who by the way are one of the world’s leading distributors of speciality chemicals. Were you already aware of this partnership?

Fair enough Loot. I don’t agree, but it’s always interesting to hear a contrarian view. With Octopus only selling off their 10% stake slowly I can’t imagine the sudden drop you envisage so I still think it would take some unforeseen event for that occur. I’m surprised you aren’t holding any shares though, as compared to the scenario you outline, there is a much bigger chance of a surprise positive announcement.

Loot re your second post, that sounds like wishful thinking on your behalf. What would be the disaster that occurs for your scenario to unfold?

I can only see positive catalysts this year, which myself and others have described in recent weeks, so I am asking a genuine question. I get the cynicism (we’ve been here before etc) but the results and progress speak for themselves and Itaconix has delivered or exceeded broker forecasts.

Given that sentiment is very positive to Itaconix at present and the majority of us seem to be adding, it strikes me as odd that the share price hasn’t budged from 120p. Based on previous RNS I suspect that Octopus Investments are continuing to gradually unload Itaconix shares onto the market as part of their winding down of funds. Every 5 months they have been selling about 110,000 shares which equates to 1% of all Itaconix shares. Anyone who has done their research knows this is an Octopus Investments issue and no reflection on Itaconix. Just think it’s helpful to understand why the share price is moving up slowly at present. Personally I see this as giving us a prolonged buying opportunity which I welcome as there are only so many funds I can add each month.

Bod, whilst it is true that Itaconix don’t have to report recent developments via RNS, that is not to say there is not a lot happening that they could choose to report on.

Halving the size of a dishwasher tablet from 16g to 8g is significant. Recent patents awarded are significant. Rapidly expanding business is significant.

Perhaps they are just saving all this for the late March update but perhaps there are developments taking place in the background that we are not aware of. The recent article I posted, specifically mentioning Itaconix, is certainly an interesting read.