The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Equipmake Holdings PLC - Norfolk, England-based manufacturer and developer of electrification products for use across the automotive, aerospace, bus, coach and fire truck industries - Says its advanced electric propulsion unit was used in Vertical Aerospace eVTOL test flight. Says the project is the first time Equipmake’s electrification products and expertise have been applied to the rapidly growing eVTOL market, which is estimated to be worth $30.8 billion globally by 2030. Also says Vertical Aerospace conducts first untethered eVTOL flight in UK. Says: ‘The significant milestone of achieving first thrustborne flight - meaning the prototype eVTOL aircraft has been successfully held up by the thrust of its vertical propulsion system - allows Vertical Aerospace to continue in its objective to certify the VX4 by the end of 2026.’ Says the aircraft is being designed to carry a pilot and four passengers and is expected to have a range of up to 100 miles with the ability to cruise at speeds of around 150 miles per hour.
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Triple Point Energy Transition PLC - London-based investment firm which focuses on infrastructure investments - Notes Virmati Energy Ltd, which trades as Field and which the company committed a £45.6 million debt facility in March, has raised a £200 million equity investment from DIF Capital Partners via DIF Infrastructure VII Fund. Says this investment will enable Field to ‘significantly scale its fleet of battery energy storage system assets, as well as enhance its in-house development and operational capabilities, thus improving its ability to deliver greater value as a part of [Triple Point Energy’s] portfolio’. Triple Point Energy Chair John Roberts says: ‘We expect the investment by DIF to further enhance both Field’s capabilities in deploying BESS and its available financial resources. With the portfolio’s second BESS asset at Gerrards Cross due to commence operations later this year, we are looking forward to continuing to work closely with Field on this critical asset class that plays such a key role in enabling renewable generation’.
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Predator Oil & Gas Holdings PLC - Jersey-based oil and gas company with near-term gas operations focussed on Morocco - Proposes placing to raise a minimum of £7 million through issue of new shares priced at a minimum of 11 pence. Says net proceeds will be used for completion of an extended rigless testing programme for MOU-1, MOU-3 and MOU-4, commencement of CNG development studies and tendering for long lead items, residual MOU-4 well costs and general working capital. Retains right to increase the size of the placing ‘in the event of excess demand’.
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