Atome Energy PLC shares lit up the AIM All-Share market surging 17.26% to 98.50p after telling investors it has taken the next steps on the road to delivering its 400MW green hydrogen and ammonia projects in Paraguay by inking its first FEED (Front End Engineering Design) contract for the Villeta project.
The international green hydrogen and ammonia production group signed up Concret-Mix, a local Paraguayan company, in relation to the Civil and Electromechanical works for the adaptation of a substation.
"The entry into the FEED contract is the next step in what will in due course culminate in an aggregate of 400MW of green hydrogen and ammonia production in Paraguay, the first phase of which at Villeta is expected to commence production by Q1 2025,” chief executive Olivier Mussat said in a statement.
The update was welcomed by finnCap analyst, Jonathan Wright, whi has a target price of around 205p for the stock.
He said “Atome’s early-mover advantage puts it in a strong position to carve out a niche in green hydrogen and ammonia markets as most mega-projects are not expected until towards the end of the decade.”
Trackwise Designs slides after revenue warning
Trackwise Designs PLC (AIM:TWD) saw its shares tumble 19.1% to 36p after warning that it would miss full year revenue forecasts.
The printed circuit manufacturer cautioned that delays to its UK EV OEM customer's own progression meant that some revenue originally forecast for 2022 will not materialise.
Philip Johnston, CEO of Trackwise, added: “Despite this 2022 is still expected to see a further increase on 2021, continuing the sales growth in the business, in particular in IHT. “
He added “It remains a difficult time to be in business, with labour supply, inflation, supply chain dislocation and Brexit-related customs issues all posing their own challenges to the business.”
Virgin Wines' forecasts cut on cost of living worries
Virgin Wines UK PLC (AIM:VINO) slipped back as analysts trimmed revenue and EBITDA forecasts despite a solid trading update today.
Shares fell 7.50% to 67p as the group reported a 6% fall in total revenues for the year to June 30th to £69m although it said the key WineBank scheme had increased revenues by 21%.
Liberum analysts said “Virgin Wines significantly outperformed the UK online wine market increasing its market share to 8.4% from 6.1%.”
But it cautioned that the weaker consumer environment and inflationary pressures had led it to prudently lower its revenue growth forecasts to +5% and +4% respectively for full year 2023 and full year 2024 respectively (from +7% and +5% previously).
Dekel Agri-Vision goes nuts about cashews
Dekel Agri-Vision plc (AIM:DKL) shares soared as the West African agriculture company reported that production should increase significantly in the coming weeks following the successful instalment of machinery.
The group said the colour sorter which arrived on 12 June 2022 is now fully installed.
Shelling machines arrived on July 26th and once installed the company said it would have the capacity to reach its goal of processing 10,000 tonnes of raw cashew nuts in 2023.
Dekel said it had purchased a further 1,200 tonnes of raw cashew nuts to provide feedstock for the Cashew Operation for the remainder of 2022 adding the cashew operation is running smoothly and is well-positioned to deliver positive operating cash flow from quarter four 2022 onwards.
Lincoln Moore, Dekel's Executive Director, said: "The Cashew Operation has advanced considerably over the past 6 weeks and is set to deliver both operational cash flow in Q4 2022 onwards and a material increase in Group revenue and profitability in 2023, the first full year of cashew production."