16th Dec 2024 10:21
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Powerhouse Energy Group PLC, up 12% at 1.2p, 12-month range 0.29p-2p. The Bingley, England-based non-recyclable waste-to-energy conversion company announces mechanical completion of its feedstock testing unit on schedule and budget. All equipment has been installed and is operating on a 'cold' commissioning basis. Says the 'hot' commissioning and testing phase will now start and continue throughout January, with open days to showcase the technology in late February. Chief Executive Officer Paul Emmitt comments: "I am extremely pleased that we delivered this highly significant milestone for the company...The FTU has been something that I have championed since my involvement with PHE. Whilst we have had setbacks with our prior intended kiln manufacturer, we have overcome them to provide something tangible; an innovative facility that will allow us to showcase the DMG technology as well as our technical/engineering expertise as a group as we look to deliver our vision for our shareholders." He adds: "I believe we enter 2025 in a stronger more positive position than that which we entered 2024."
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Quadrise PLC, up 12% at 4.505 pence, 12-month range 1.235p-4.505p. Announces the signing of a material transfer & trial agreement with Colon, Panama-based thermal power producer Sparkle Power SA. Says it will supply and install trial equipment, including a multifuel manufacturing unit with production capacity of five tonnes of fuel per hour, to Sparkle's 50 megawatt El Giral power plant. This will be used to produce Quadrise's MSAR and bioMSAR emulsion technology fuel for a week-long diesel engine trial, time supplying power to Panama's electricity grid. Company notes this is the first time the fuels have been tried on a MAN 4-stroke diesel engine. The deal's purpose is to conduct a proof-of-concept programme and emissions test, after which both companies will evaluate the on-site commercial application of MSAR and bioMSAR based on technical and economic feasibility. Quadrise says the deal expires after six months.
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AIM - LOSERS
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XLMedia PLC, down 22% at 9.65p, 12-month range 6.24p-13.5p. The London-based sports digital media company says it plans to launch a tender offer in the new year, worth up to GBP16 million or around USD20 million, which would represent approximately half of its current market capitalisation of around GBP25.8 million. Also says this would represent around half of its total available cash. Proposal follows XLMedia becoming an AIM Rule 15 cash shell, and the disposals in April and November of its Europe and North America assets. Company reconfirms it has no plans to become an investing company or to make a reverse takeover.
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By Emma Curzon, Alliance News reporter
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