IP Group Update - February 2025 |
 Missed this news from last month.
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16 January 2025
Melbourne-based ElectraLith Pty Ltd (“ElectraLith”) today announced the close of an $A27.5m Series A capital raise from a world-class investor syndicate comprising IP Group, Hostplus, Rio Tinto, Chevron Technology Ventures, Fathom Fund, Breakthrough Victoria, Vista Energy, Marathon Petroleum, In-Q-Tel and Monash University.
The materially oversubscribed funding round was led by Australian deep tech investment fund Main Sequence.
ElectraLith CEO Charlie McGill said: “The Series A funds will enable DLE-R’s rapid development into what we believe will be the the cleanest, most versatile and most cost-efficient method to extract and refine lithium. The quality, breadth and scope of the Series A investor syndicate provides the strongest signal yet of DLE-R’s full potential. This includes four blue-chip strategic investors, three globally recognized venture capital firms, one of Australia’s largest superannuation funds, Breakthrough Victoria, and In-Q-Tel (IQT), the not-for-profit strategic investor for the US national security community and America’s allies.”
The Series A funds will support the development and installation of ElectraLith’s first field-deployed pilot plant which will be capable of producing battery-grade lithium hydroxide on site without requiring the use of water or chemicals.
ElectraLith’s Series A follows its announcement in August 2024 that it had produced battery grade lithium hydroxide from salar brines, geothermal oilfield brines and spodumene leach using no water or chemicals and minimal energy.
Rio Tinto Chief Advisor for Battery Minerals and ElectraLith Non-Executive Director Travis Baroni said: “Rio Tinto continues to see the potential of ElectraLith's DLE-R technology to significantly reduce the economic cost and environmental impact of lithium production and we’re looking forward to trialling ElectraLith’s first DLE-R pilot in the near future”
“The technology developed by ElectraLith has the potential to reduce the cost, energy, waste and water intensity of direct lithium extraction (DLE) and refining, which could provide an attractive alternative to incumbent technologies” said Jim Gable, Vice President of Innovation within Chevron’s Technical Center and President of Technology Ventures at Chevron. “This is the latest investment from our $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular economy. We welcome ElectraLith to the portfolio.”
IQT Investor Olivia Jones commented “IQT is excited to support ElectraLith in advancing DLE technology. With potential to unlock otherwise unviable resources and to bring refining closer to the source, DLE-R has strategic implications for both extracting and processing critical minerals.”
Main Sequence Investment Manager Jun Qu noted that ElectraLith is paving the way to a sustainable future by revolutionizing lithium extraction and refining. “We’re impressed by ElectraLith’s groundbreaking technology, which eliminates the need for water and chemicals and can operate entirely on renewable energy. Traditional lithium extraction is creating an unsustainable burden for our planet. ElectraLith’s solution is not only far more sustainable, but also has the potential to disrupt the cost curve for lithium production. We are excited to support the ElectraLith team and are eager to see the transformative impact they will have on the lithium supply chain,” concluded Qu. |
Date of purchase: 11/02/2025
Number of ordinary shares purchased: 340,000
Volume weighted average price paid per ordinary share (GBp): 48.9772
08:49:35-16:19:49 |
nigel, well done, better timing than me.
I noted the shorter borrowed another approx 900,000 shares yesterday, so these may have caused the decline.
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Qube Research & Technologies Limited Total short 0.60% including an additional 0.09% added 10 Feb 2025
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Under the existing rules of the buyback it's impossible for management to counter this volume of selling, in just one day. |
nigelpm7 Feb '25 - 20:42 - 3564 of 3572 Edit
0 1 0
It's a great trading range until it isn't.
More prophetic than I thought it would be!
I'm buying pretty heavily now. |
Updated just now
IP Group PLC (10:16:09)
Profit forecast increased from £99.5m to £107m (Forecast year ending 12/25) |
Date of purchase: 10/02/2025
Number of ordinary shares purchased: 340,000
Volume weighted average price paid per ordinary share (GBp): 50.3507
08:33:00-16:15:15 |
First Light Fusion
Mark Thomas appointed CEO of First Light Fusion
10 Feb 2025
Mark Thomas joins First Light Fusion as permanent CEO of the business
The appointment brings Mark’s three decades of operational, engineering and executive experience to First Light
Mark will drive the business forward as it looks to achieve revenue generation this year
10 FEBRUARY 2025: OXFORD, UK – First Light Fusion (“First Light”), the UK inertial fusion pioneer, is today announcing the appointment of Mark Thomas as its new Chief Executive Officer.
Effective immediately, Mark will lead the company into its next chapter as it continues to advance its mission of commercialising fusion energy and drive forward new commercial partnerships.
Mark brings over 30 years of expertise in the aerospace and defense industries, with an impressive career that includes senior leadership roles at Rolls-Royce. He is respected and renowned across various sectors for his ability to drive innovation and deliver on ambitious growth objectives.
He served as Chief Engineer at Rolls-Royce, working across multiple engine programmes and spearheading the company’s civil aerospace technology demonstrators and future initiatives. Mark also spent nearly a decade as CEO of Reaction Engines, where he led the development of advanced propulsion systems and thermal management technologies.
In addition to his extensive leadership experience, Mark also brings valuable expertise in fundraising and forging strategic commercial partnerships. He will provide strategic oversight of the business, lead on key stakeholder engagement and head up its leadership team.
Mark will undertake his first engagement at FusionX Invest in Silicon Valley on Wednesday 12th February, a global conference bringing together leading fusion investors, policymakers and pioneers.
Bart Markus, Chairman of First Light Fusion, said:
“I am delighted to welcome Mark to the team at this important time for the business and the fusion sector as a whole. He brings with him a strong engineering foundation, combined with a proven track record in technical innovation, leadership, and business growth and transformation. This positions him perfectly to guide First Light through our next phase of development.”
Mark Thomas, CEO of First Light Fusion, said:
“I’m thrilled to be joining First Light – an innovative, cutting-edge business with transformational technology and expertise. We are entering a new and important chapter of the business, which I am delighted to be leading alongside our Board, executive leadership and truly remarkable team. There is momentum behind fusion globally, and First Light – with its unique technology and capabilities – is well positioned to be a critical enabler in the commercialisation of fusion energy.” |
Background
The Saudi NEOM Green Hydrogen Company (NGHC) has announced significant progress in developing the world’s largest green hydrogen plant, advancing efforts to transition to cleaner energy sources. The plant, set to be fully operational by 2026, aims to produce up to 600 tonnes of green hydrogen daily, targeting global export markets.
In 2024, NGHC reported achieving 60% completion across its key sites, which include a hydrogen production facility, wind garden, solar farm, and transmission grid. The installation of critical technology and the preparation of “Electrolyser 1” for a 2025 launch marked key construction milestones.
The project is designed to support decarbonization efforts, with the potential to reduce global CO2 emissions by up to 5 million tonnes annually. By the end of 2026, the green hydrogen produced will power buses, heavy trucks, and industrial processes.
NGHC is also expanding its workforce, launching a recruitment drive that attracted over 9,000 applicants and forming partnerships with educational institutions to train future talent in the sector.
According to the Hydrogen Council, rapid scaling of green hydrogen projects is critical to meeting global climate goals, with the NEOM project positioned as a blueprint for large-scale clean hydrogen production. |
Hysata and ACWA Power sign game-changing deal to unlock green hydrogen in the Kingdom of Saudi Arabia and the Gulf with world-leading high efficiency electrolysers
10 Feb 2025
Hysata signs agreement with ACWA Power, leading energy developer, investor, and operator, to operate commercial-scale high-efficiency electrolyser systems in Saudi Arabia.
Combining ACWA Power’s world-leading experience and Hysata’s patented technology, this initiative supports Saudi Arabia’s Vision 2030 goals, strengthening the Kingdom’s leadership as a global hub for green hydrogen innovation.
Wollongong, Australia, 10 February 2025: Hysata, Australia’s leading electrolyser company, has today announced a new agreement with ACWA Power to deliver commercial scale demonstrations of its high-efficiency capillary-fed electrolysis technology (using only 41.5 kWh of electricity to produce one kilogram of hydrogen) in Saudi Arabia.
The agreement will accelerate the development of Hysata’s high efficiency electrolysers and leverage ACWA Power’s significant expertise in large capital projects which includes its 2.2-gigawatt NEOM green hydrogen project in Saudi Arabia. NEOM is the world’s largest, utility scale hydrogen project, which is already over 60% complete and is expected to produce 600 tonnes of hydrogen daily once fully operational in 2026.1
This agreement includes a commercial scale demonstration of Hysata’s technology in Saudi Arabia which is the first step in their commercial pathway towards deploying large-scale high-efficiency electrolyser systems in ACWA Power’s projects.
The deal was signed at ACWA Power’s Innovation Days in Riyadh on 5th February 2025, where Hysata Chief Commercial Officer Daniel Sandermann spoke on a panel on ‘Green Hydrogen – Future Technologies and Production Innovations.’
Hysata CEO, Paul Barrett said:
“Hysata is delighted to partner with ACWA Power, a pioneer in the region’s power generation, desalination and green hydrogen sector. We were especially attracted to their pipeline of large-scale green hydrogen projects with strong offtakes, their deep expertise across the energy supply chain in the Middle East, and an impressive ability to execute large-scale projects at a rapid pace.”
“Green hydrogen through its use as a chemical feedstock is critical for decarbonising heavy industry and for creating new export markets for products such as green iron, steel, and green ammonia. The Middle East offers all the ingredients to be a green hydrogen leader with low cost and abundant renewable capacity, ambitious hydrogen investments and attractive incentives for manufacturing.”;
“The region’s rapid progress in the sector is also thanks to the strong vision from companies like ACWA Power.”
“Compounding these advantages, Hysata’s industry-leading efficiency, simplified balance-of-system, and design for high-volume manufacturing creates an unmatched LCOH advantage for our customers, leading to a strong business case for green hydrogen.” |
There will come a time when the buyback has a more meaningful impact on the price. Will that be a gradual event or first a more sudden step function followed by gradual? Depends on a few variables driving the supply of stock. TBD. |
Exactly - so why bother selling - just buy on the dips and hang on. |
nigel, I did make a point of saying it was currently an interesting op!
With management buying back around 8,000,000 shares a month [approx .75% of the co.] I reckon it's likely they'll be a time when sellers will want to see higher prices. Still have a core holding here. |
It's a great trading range until it isn't. |
Just bought another 30k for trading. Between the shorter and the buyback there is currently an interesting op to trade in the range 50.5 to 53.5
We know roughly what time the buyer stops buying, which has helped me today. |
Date of purchase: 07/02/2025
Number of ordinary shares purchased: 350,000
Volume weighted average price paid per ordinary share (GBp): 51.5789
08:45:15-16:21:03 |
Date of purchase: 06/02/2025
Number of ordinary shares purchased: 400,000
Volume weighted average price paid per ordinary share (GBp): 52.5460
08:24:23-16:20:37 |
Date of purchase: 05/02/2025
Number of ordinary shares purchased: 500,000
Volume weighted average price paid per ordinary share (GBp): 51.3798
08:35:19-16:20:38 |
Nuclear fusion hopeful nears £60m funding boost amid concern over China breakthrough
A successful reactor would be a source of almost infinite clean energy
03 February 2025 7:30am GMT
Ed Miliband, the Energy Secretary, has earmarked hundreds of millions of pounds to develop fusion reactors Credit: Lauren Hurley/DESNZ
A British start-up developing a breakthrough in nuclear fusion is closing in on a £60m funding deal amid reports that China has taken a surprise lead in the clean power technology.
Oxford-based First Light Fusion is said to be finalising a funding deal for its “projectile fusion” technology, which sees a 5p-sized projectile fired at extremely high speeds using electro-magnets into nuclear fuel to set off a powerful reaction.
The company says its technique means it does not need complex machinery or expensive lasers to generate a fusion reaction, meaning its reactors could be cheaper and simpler than rival technologies.
Unlike nuclear fission – where atoms are split to release energy – fusion forces atoms together to create a new element, releasing incredible force in the process. The reaction is the same process found at the centre of the sun, where hydrogen atoms are crushed together by its vast gravitational pull.
On Earth, scientists believe they can mirror these reactions with powerful electromagnets and extreme temperatures. A successful nuclear fusion reactor would be a source of almost infinite clean energy and is seen by many as the “holy grail” for net zero.
First Light has been in advanced talks with current investors, who include Chinese technology giant Tencent and London-listed IP Group, and potential new backers. Sources said it was close to announcing the deal.
Earlier this month, Ed Miliband, the Energy Secretary, announced that the Government had earmarked hundreds of millions of pounds to develop fusion reactors. The Government confirmed it would offer £410m to various nuclear fusion projects over the next two years.
While the technology offers great promise, it has been pursued by researchers for decades and proved fiendishly difficult to harness commercially. However, scientists are optimistic that recent advances in artificial intelligence could help by allowing the development of technology to stabilise the process.
Race with China
Western scientists are currently digesting claims from China that Beijing’s scientists have made a major leap towards developing a working fusion reactor.
Last month, the Chinese Academy of Sciences announced it had run a fusion drive reaction for 1,066 seconds – more than double the previous record. Satellite photos also emerged of a new laser fusion research facility, which uses giant lasers to heat fuel in an attempt to stimulate a fusion reaction.
Last year, the Fusion Industry Association, the UK trade body, warned that Britain “risks ceding dominance in one of the most important industries this century” to China if it failed to back the technology. It added the UK had “probably the greatest concentration of fusion skills on the planet clustered around Oxfordshire”.
First Light Fusion, which was founded in 2011 by Nicholas Hawker, has so far burned through tens of millions of pounds to develop its technology. Like most fusion start-ups, it brings in almost no revenues.
In accounts filed last year, First Light Fusion said it had a “high level of confidence” it would secure a £60m injection of capital in early 2025, although its auditors said at the time there remained “significant doubt” over its ability to continue as a going concern.
A First Light Fusion spokesman said: “We have agreed terms for a substantial funding round and will announce it once completed.” |
Date of purchase: 04/02/2025
Number of ordinary shares purchased: 500,000
Volume weighted average price paid per ordinary share (GBp): 51.3457
08:09:21-16:21:56 |
FLF rumour of new finance on the way. £60m
Anyone got a link to the whole article? [paywall] |
Date of purchase: 03/02/2025
Number of ordinary shares purchased: 530,000
Volume weighted average price paid per ordinary share (GBp): 50.9976
08:13:12-16:16:24 |
Date of purchase: 31/01/2025
Number of ordinary shares purchased: 420,000
Volume weighted average price paid per ordinary share (GBp): 52.2966
08:47:23-16:21:34 |
Date of purchase: 30/01/2025
Number of ordinary shares purchased: 380,000
Volume weighted average price paid per ordinary share (GBp): 52.1114
09:25:05-16:14:20 |
I think the long-term share price strongly depends on Istesso's outcome.
It is very difficult at the moment to pass above 55p
I hope cash will be used to make sensible investments. Now we're too bound with ONT |
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