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IPO Watch: Lithium explorer Winsome Resources listed today – here’s how it performed

Two companies IPOd today but the biggest winner was lithium explorer Winsome Resources (ASX:WR1) who listed after raising a tidy … Read More
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Two companies IPOd today but the biggest winner was lithium explorer Winsome Resources (ASX:WR1) who listed after raising a tidy $18 million at $0.20 per share.

The company’s shares were trading at 26 cents per share near close of play –  a healthy 30% above issue price.

Funds from the IPO will accelerate the company’s exploration at its three project areas – Cancet, Adina and Sirmac-Clappierin the James Bay Region of Quebec Province, Canada.

The aim is to establish a maiden resource of high quality spodumene concentrate that is suitable for conversion across multiple battery applications.

Notably, the most advanced project – Cancet – is a shallow, high grade lithium deposit and is strategically located close to established infrastructure and supply chains.

Plus, the company says that Quebec is one of the world’s most supportive, lowest risk mining regions, renowned for its world-class infrastructure and support for mining developments and is at the forefront of the North American push to develop its own EV battery supply chain.

Winsome managing director Chris Evans was previously MD of FireFinch (ASX:FFX) and COO of Altura Mining (ASX:AJM) – so it’s safe to say he knows what he’s talking about when he says it’s an exciting time to be exploring for lithium.

“Current trends show up to 10 times more lithium is required in the next decade to meet the demand and it is going to require a huge investment to get there,” Evans said.

“With more than 99 per cent of the world’s lithium reserves located in Australia, Argentina, Chile and China, our projects offer jurisdictional diversity and opportunity to contribute to the expanding North American battery industry.”


 

Biome Australia (ASX:BIO)

Also listing today was microbiome health company Biome Australia, who licences, develops and markets innovative, evidence-based, complementary medicines, including nutraceuticals (food-based vitamins and weight management products) and live biotherapeutics (probiotics).

The company IPOd at $8 million at $0.20 per share, and its shares were trading at 11 cents per share – a huuuge 41.25% drop below the issue price.

Biome will use the funds to accelerate new product development and commercialisation in the complementary medicines industry – which it says in Australia is estimated to be worth $5.69 billion.

The company currently distributes 22 products through more than 2,300 community pharmacies and a range of health practitioners and health food stores in Australia, New Zealand and the United Kingdom, with some of its products also available online.

“While supporting health professionals to improve patient health outcomes, Biome has doubled its revenue over each of the last two financial years, with annualised sales revenue to October 2021 showing continued growth,” chairman Ilario Faenza said.

It has a clear growth strategy that will be propelled by the IPO proceeds, accelerating commercialisation and product development.”


 

The post IPO Watch: Lithium explorer Winsome Resources listed today – here’s how it performed appeared first on Stockhead.

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Author: Emma Davies

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UK SMEs join forces to drive energy storage innovation

Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market.
The post UK SMEs join forces to drive energy storage…

Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market

A trio of SMEs have joined forces to accelerate to market innovations in energy storage.

AMTE Power, Brill Power and Starke Energy are collaborating at a commercial-scale testbed at Harwell Campus in Oxfordshire, England.

They aim to prove three new technologies at a battery energy storage system to be integrated with a solar array operated by the Science and Engineering Facilities Council (STFC) at Harwell Science and Innovation Campus.

AMTE Power develops new battery cell technologies; Brill Power is a spin-out from the University of Oxford which develops intelligent battery management and control technology; and Starke Energy uses artificial intelligence to optimise batteries.

First time deployment
The testbed will demonstrate AMTE’s sodium-ion battery module using Brill Power’s technology and Starke’s energy management system, which links stored energy into the electricity grid and markets.

This is the first time that these technologies are being deployed in a commercially relevant project.

Emma Southwell-Sander from the STFC and manager of the EnergyTec Cluster at Harwell Campus said the project “is a prime example of how Harwell’s EnergyTec cluster is facilitating access to young innovative businesses to a wealth of resources to supercharge their route to market”.

Emma Southwell-Sander

The energy storage system at Harwell is expected to be operational from March and will is intended to run for a minimum of 12 months.

As a benchmark, in the project’s first phase, AMTE Power will deploy lithium-ion cells before switching to use the company’s sodium-ion cell technology in the second demonstration phase of the project.

AMTE’s director of business development John Fox said: “The ability to test our new products in a commercial operating environment is invaluable. Having access to the Harwell site will accelerate the time to market for our new energy storage products.”

Network resilience
Sodium-ion batteries offer an alternative to lithium-ion in those markets where cost is more important than weight or performance: particularly energy storage, network resilience and energy in remote locations. Improvements in competitiveness of energy storage technologies will accelerate the uptake of small-scale renewable sources of electricity generation.

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The commercialisation of sodium-ion technology lags behind Li-ion but offers significant advantages that makes it suited as a solution for static energy storage applications; it uses earth-abundant elements, has long cycle life and intrinsic safety advantages.

Brill Power’s battery intelligence technology will be deployed to ensure optimal battery usage, lifetime, performance, and safety. Real-world data and operating parameters will be collected, which will support further optimisation of the technologies deployed in the demonstrator.

Brill launched its first battery management system last year, which is supported by its proprietary battery monitoring and analytics software platform.

“Brill Power’s battery intelligence technology can improve all aspects of advanced battery systems, including performance, cost of ownership, reliability and safety,” said the company’s chief executive Christoph Birkl.

“This testbed will enable us to integrate our technology with other cutting-edge battery innovations and collect real-world data on a commercially relevant site”.

Optimise storage

Starke Energy’s energy management system will integrate the battery system with the local energy network at Harwell.

Using artificial intelligence, it learns how much energy is being produced by renewable sources, and how much is being used to optimise the storage and release of energy across a network of connected intelligent batteries.

Exclusive industry insight: Not all storage solutions are created equal

The project is part of the Interreg North-West Europe STEPS programme that is supporting 40 businesses through, in its first phase, a competitive product enhancement voucher programme – valued at €12.5k each.

AMTE, Brill and Starke were all awarded first phase vouchers in March 2021 and each have benefited from support from Cambridge Cleantech, the UK’s longest-standing membership organisation for the cleantech sector, and the Faraday Institution, the UK’s independent institute for electrochemical energy storage R&D, market analysis and early-stage commercialisation.

This has included tailored testing, introductions to potential end-users and market knowledge to strengthen the competitiveness of their products.

Faraday Institution chief executive Professor Pam Thomas said the energy storage project was “another example of the Faraday Institution acting as convener for partnerships between UK industry, academia and funding organisations as a route to commercialise breakthrough science and engineering to maximise economic value”.

Sam Goodall, head of international projects at Cambridge Cleantech added that the three SMEs “have technologies that can revolutionise the energy storage sector, from AMTE’s Na-ion batteries which remove the need for mineral extraction, Brill Power who make batteries last longer and be more efficient, and Starke’s energy management system which helps optimise the use of the energy and how it is sold together based on AI and IoT”.

The post UK SMEs join forces to drive energy storage innovation appeared first on Power Engineering International.


Author: Kelvin Ross

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“Pulling The Plug”: After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

"Pulling The Plug": After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

After numerous recalls and the ensuing…

“Pulling The Plug”: After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

After numerous recalls and the ensuing bad press that comes with them, it looks like General Motors could be set to literally “pull the plug” on its Chevy Bolt EV. 

“GM announced a $35 billion investment in EVs by 2025, including $4 billion to build electric versions of its best-selling pickups,” CNN reported this week. Worth noting is that GM is planning to build those models at its plant in Orion Township, Michigan, the report says.

That plant is currently the home to the GM Bolt and its cousin, the Bolt EUV. The company didn’t make any new announcement as to where, if anywhere, Bolt production would continue.

GM spokesperson Dan Flores gave a statement this week that didn’t drip with optimism about the Bolt, either: “Production of the Chevrolet Bolt EV and EUV will continue during the plant’s conversion activities to prepare the facility for production of the Silverado EV and Sierra EV pickups. We are not disclosing any additional information at this time about Bolt EV or Bolt EUV production.”

    Recall, in September, we noted that after two recalls about fires, GM had finally resorted to telling Bolt owner just not to park their car within 50 feet of another car.

    Flores, who we we’re sure wasn’t getting paid enough to deliver this line with a straight face, said in Fall 2021: “In an effort to reduce potential damage to structures and nearby vehicles in the rare event of a potential fire, we recommend parking on the top floor or on an open-air deck and park 50 feet or more away from another vehicle. Additionally, we still request you do not leave your vehicle charging unattended, even if you are using a charging station in a parking deck.”

    “We are aware of 12 GM confirmed battery fires that have been investigated involving Bolt EVs vehicles in the previous and new recall population,” he continued, telling The Detroit News. “We’re still working with LG around the clock to resolve the issue. Both companies understand the urgency to move as quickly as possible, but, again, the most important thing here is we have to get this right.”

    Recall, back in July 2021, General Motors issued their second recall for the Chevy Bolt after it announced that two Bolts had caught fire without impact and that at least one of the two was related to the battery and happened despite the owner getting a fix from a previous recall.

    The second recall included all Bolt EVs from 2017 to 2019, encompassing 68,000 vehicles. 50,925 of those vehicles were located in the U.S. and they have batteries that are produced at LG Chem’s Ochang, South Korea, facility, the report notes.

    A spokesman for GM said last summer: “As part of GM’s commitment to safety, experts from GM and LG have identified the simultaneous presence of two rare manufacturing defects in the same battery cell as the root cause of battery fires in certain Chevrolet Bolt EVs. As part of this recall, GM will replace defective battery modules in the recall population. We will notify customers when replacement parts are ready.” 

    GM may have finally figured out that one way to stop the fires is to stop producing the vehicle that keeps combusting…

    Tyler Durden
    Fri, 01/28/2022 – 18:00

    Author: Tyler Durden

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    Is LCID Stock a Buy Right Now? Here’s What 3 Analysts Think About Lucid Price Predictions.

    Shares of Lucid (NASDAQ:LCID) closed down 5.4% today, trading near their 2022 low. Even worse, shares of LCID stock are down more than 25% over the past…

    Shares of Lucid (NASDAQ:LCID) closed down 5.4% today, trading near their 2022 low. Even worse, shares of LCID stock are down more than 25% over the past five trading days.

    Source: Around the World Photos / Shutterstock.com

    During 2021, LCID stock returned a staggering 280% as electric vehicle (EV) stocks entered the spotlight. In addition, Lucid has not reported any material news this year that would explain its price decline. So, why are shares down so much?

    Tesla Reports Supply Chain Woes

    Lucid’s recent price decline may be attributed to Tesla’s (NASDAQ:TSLA) fourth-quarter earnings. While Tesla reported sales that were up an impressive 65% year over year, the company also warned of “equipment capacity, operational efficiency and … supply chain” issues. TSLA stock dropped more than 10% the following day.

    Tesla is the undisputed leader in the EV industry. It only makes sense that if Tesla is having issues, then those issues could translate to Lucid as well. Furthermore, Tesla reported that it was experiencing “parts constraints,” which factored into the EV maker announcing it would not release any new vehicles this year. This constraint could hurt Lucid as well. However, all will be known when Lucid reports earnings for the fourth quarter. Lucid has not confirmed an earnings date yet, although Nasdaq estimates that the date will fall on Feb. 21.

    With the potential supply chain constraints in mind, investors are starting to doubt whether Lucid will be able to repeat last year’s performance. Let’s take a look at Wall Street’s LCID stock price predictions.

    LCID Stock Price Predictions

    • Citi has a price target of $57. Analyst Itay Michaeli is bullish on Lucid for three reasons: its leading EV technology credentials, a fast speed t0 market, and “advanced and comprehensive sensor suite leveraged with OTA [over-the-air] capabilities.” Michaeli adds that he sees several catalysts for the coming year, including a manufacturing ramp, Air launch timing updates, and financial results.
    • Guggenheim has a price target of $38. Analyst Ali Faghri gives Lucid a “premium multiple” due to its “best-in-class EV technology,” vertical integration business model and its status as a powertrain supplier. Faghri adds that in the best-case scenario, shares of LCID stock could reach $83. In the worst-case scenario, Lucid could fall to as low as $12.
    • Morgan Stanley has a price target of $16. Lucid’s Q3 delivery figure impressed analyst Adam Jonas. Jonas estimates that Lucid will receive 15,000 reservations for 2022, which is lower than Lucid’s internal estimate of 20,000. For 2030, Jonas believes Lucid will receive 400,000 reservations, which is again lower than Lucid’s estimate of 500,000. Jonas highlights several company risks, such as scaling production, factory costs and supply chain issues. Finally, the analyst adds that he sees better risk-reward balances in other EV names, such as Tesla, General Motors (NYSE:GM) and Ferrari (NYSE:RACE).

    On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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    The post Is LCID Stock a Buy Right Now? Here’s What 3 Analysts Think About Lucid Price Predictions. appeared first on InvestorPlace.

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    Author: Eddie Pan

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