Velocys - Update Shows Progress

The business update from Velocys summarises a period of achievement for the company with key building blocks put in place and sees the company moving forward with its reference projects in the US and UK. It follows yesterday’s announcement of a tie up with engineering major Bechtel. We think this adds credibility to the project development phases and we see it as helping to de-risk the near-term outlook.

SHORE CAPITAL - Velocys+ (VLS, House Stock at 4.4p)

Velocys - Tie Up With Bechtel

Velocys has announced an important tie up with engineering major Bechtel which will see the companies collaborate on EPC for the important reference projects in the US and UK as well as the e-Alto project. This name alone adds credibility to the project development phases and we see it as helping to de-risk these.

Where Clean Energy Develops In 2023

We see three key sectors of the clean energy universe as making progress in 2023. Carbon capture and storage (CCS) will benefit from US tax incentives, long duration energy storage will benefit from volatile pricing and higher lithium prices and hydrogen has the potential to recover from demand uncertainty driven by a rather polarised debate on its uses. The markets will be challenging but the strengths of the opportunity remain strong.

SHORE CAPITAL - Initial Trading Comment

SHORE CAPITAL - Share & share alike

Velocys - A Rising Tide Raises All Boats

The successful operation of a gasification project using the same technology as Velocys will use for its reference projects represents a de-risking in our view. Gasification is beginning to recover from a difficult history, and we see Velocys as being one of the companies that can benefit from the maturing of this technology.

LSE AIM - Market Screener

 The market capitalization of AIM stocks declines 1.3% to £99.0bn from the 6th to the 15th of December. Among the top winners for the previous five trading days, there were Bonhill Group (+39.1% on an acquisition offer for the part of the business), Oriole Resources (34.8% on first-ever JORC report), Rua Life Sciences (33.3% on smaller reported loss), Blackbird (29.8% on partnership news), Billington Holdings (28.9% on trading update). Among the bottom movers were Parsley Box (-68.7% on propose

LSE AIM - Market Screener

We launch our Market Screener, which will be focusing on LSE AIM companies. We plan to reflect on the drivers behind the performance of relatively scarcely covered stocks. AIM has 835 officially listed stocks with an aggregate market capitalization of £100.2bn as of 6 Dec 2022. Around 58% of AIM stocks have a market capitalization below £50mn, including 32% of all stocks below £15mn MktCap. The largest industries represented on AIM are Industrials (19% in cumulative market cap), Healthcare (15%)

Hybridan Small Cap Feast 12/12/2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Savannah Energy, the AIM-quoted energy company, is undergoing a reverse transaction in connection with the acquisition of Exxon Mobil Corporation's entire upstream and midstream asset portfolio in Chad and Cameroon. No capital to be raised on Admission. Anticipated market cap £323m. Expected 13 December. Celsius Resources intends to join AIM. Currently ASX listed, Celsius is a natural resou

Velocys - Altalto Wins Major Funding Support

Significant grant funding for the Altalto project represents a major de-risking in our view and allows Velocys to move this project ahead through FEED towards final investment decision. The timing works with the existing timetable and additional Power-to-X funding for Velocys opens up additional optionality for the company.

SHORE CAPITAL - Velocys+ (VLS, House Stock at 4.4p)

Where There's Muck - Bioenergy

Energy from biomass or waste can be genuinely low carbon and sustainable, representing a major tool in the decarbonisation toolbox. The ability to add carbon capture technology creates an immediately available negative emissions solution and adding liquid fuels allows the decarbonisation of sectors previously seen as challenging. Demand for all these solutions is likely to grow as decarbonisation and energy security become essential requirements in the energy mix.

Velocys - Bayou to Deliver Major Emissions Cut

Velocys has re-optimised its Bayou project to deliver a negative emissions potential with a carbon intensity of -375g CO2e/MJ. This is a major carbon reduction figure and means that the project can now be considered as a significant carbon dioxide removal technology. The UN Intergovernmental Panel on Climate Change now sees carbon dioxide removal as unavoidable with bioenergy-based solutions such as this the key solution.

SHORE CAPITAL - Velocys+ (VLS, House Stock at 5p)

Heading for record 2023 deliveries

Top Picks for 2023 - 2022 review and outlook for 2023

On 10 January last year, we set out our ten top stock picks for 2022, in what turned out to be a very poor twelve months for global equities, due to war, accelerating inflation, political instability and recession fears. Between 7 January 2022 and 31 December 2022, the AIM All-Share Index declined 30.0%, whilst the average performance of our ten top picks was -24.7%, a modest relative outperformance. In this note we discuss the performance of our 2022 top picks, equities trends in 2022, and our

Terminating coverage

Setting up a breakthrough year - Correction

ITM Power (ITM LN) - Trading update

• ITM has released a trading update, reporting on progress of the detailed review being carried out under its new CEO. This includes a profit warning, with FY 2023 results now expected to exhibit lower revenue and a higher EBITDA loss than previous guidance (existing guidance was to be at the lower end of the range on output of 48-65MW and £23-28m revenue, and was also for EBITDA loss of £45-50m), with the difference described as “material”. This has been driven by several factors: losses on cus

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

This Week's AIM Highlights 20th January 2023

LIBERUM: Yü Group* - Yet more upgrades

Strix (KETL LN) - Full year trading update

Strix have issued a full year trading update indicating profit after tax will be c. £23.0m, in line with updated guidance provided in the 30 November 2022 trading update following completion of the Billi acquisition. Year-end net debt came in at £87.0m, slightly ahead of Zeus forecasts, leaving the company well placed to bring net debt / EBITDA materially below 2.0x during FY23. Profitability being in line provides confidence that the Zeus FY22 revenue forecast of £110.0m will be achieved, imply

Q4 & FY22 Trading Update

Capital Limited (LSE: CAPD) this morning provided its Q4 & FY2022 trading update. The Company has continued to perform strongly in 2022 with Q4 revenue 8.2% higher QoQ and 18.9% higher YoY. The full year of revenue has once again exceeded the revised guidance (albeit marginally) and our estimates.

Invinity Energy Systems - Reassuring Update And New Sale

We see Invinity’s update as reassuring and the new commercial sale adds to this especially as it is a second sale through an existing partner. Year-end cash of £5.1m and £7.5m of further potential convertible funding aligns with a strong order backlog and pipeline growth to give comfort for FY 23 and beyond in our view.

Powerhouse Energy - Progress In Poland

Powerhouse is making progress in Poland. This is potentially a major opportunity for Powerhouse, and establishing a project here using its technology could open a potentially strong market in our view.

Cautious optimism for FY23

LIBERUM: Kier Group - Trading in line, with better cash expected in H2

Hybridan Small Cap Feast - 17 Jan 23

17 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object