All Industries

DeepTech Recycling secures fresh funding in fight to create circular economy for plastics

NetScientific PLC

DeepTech Recycling Managing Director and CTO Marvine Besong speaks to Thomas Warner from Proactive about the company's groundbreaking work in plastic recycling. He explains that DeepTech Recycling specialises in transforming end-of-life plastics into reusable materials, noting that only 12% of all plastic waste is currently recycled. Their innovative approach involves heating waste plastics in a proprietary modular unit that ultimately turns it back into an oil-like substance that can then be treated and turned into new petrochemical feedstock. The aim is to promote a circular economy for plastics, preventing them from ending up in landfills or polluting the environment. Recently, DeepTech Recycling secured £1 million in funding, which Besong says will be used to consolidate the assets acquired from Recycling Technologies in December 2022 and to develop and commercialise their technology. This includes setting up a new operating base with labs and bench scale facilities. Besong emphasises the company's strategy to install recycling facilities at Material Recovery Facilities (MRFs), enabling efficient local processing of plastics. This approach aligns with their vision to tackle plastic waste as close to the consumer as possible, converting low-density plastic into easily transportable liquid form. Besong says his current focus is on business development, customer engagement, and advancing the company's technology to achieve commercial-scale operations. He stresses the importance of customer-focused models in scaling up their technology. DeepTech Recycling is a NetScientific portfolio company. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:10 PM Eastern Standard Time

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Arecor Therapeutics reveals deal with "global medical products company"

Arecor Therapeutics PLC

Arecor Therapeutics PLC (AIM:AREC) Chief Business Officer Manjit Rahelu speaks to Thomas Warner from Proactive after the biopharmaceutical group announced a significant development from its Specialty Hospital division. A new collaboration with an unspecified "global medical products company" will focus on reformulating a blockbuster oncology drug into a ready-to-use liquid form, enhancing its efficiency and ease of use for patients. This marks a significant shift from its powdered form, which was complex and time-consuming to prepare. The reconstituted drug is not only more convenient but also aims to reduce waiting times for patients, thereby improving overall healthcare delivery. Dr. Rahelu highlighted the collaborative effort involving a global partner with expertise in R&D, manufacturing, commercialisation, and regulatory affairs. This partnership aims to leverage both entities' strengths, combining Arecor's innovative in-house development with the partner's global capabilities. Arecor's technology has been instrumental in this advancement, underscoring their capability to apply their technology across various therapeutic areas beyond diabetes. This development is the second major outcome from Arecor's in-house pipeline and Rahelu says it demonstrates Arecor's ability to independently identify and develop promising candidates, translating R&D efforts into value-driving collaborations. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:09 PM Eastern Standard Time

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Cornerstone FS CEO says business has "turned a corner"

Cornerstone FS PLC

Cornerstone FS PLC (AIM:CSFS) chief executive James Hickman speaks to Thomas Warner from Proactive London after the foreign exchange and payments solutions company released a trading update suggesting that it anticipates reporting revenue and adjusted EBITDA for the year to 31 December 2023 "materially ahead of current market expectations." The update boosted Cornerstone's share price by almost a third in early trading. Hickman attributes the improvement in the performance of the business to a strategic focus on revenue generation, expanding sales capabilities, and leveraging technology. He emphasises the importance of being customer-focused, a key factor in the company's turnaround, and says the increase in performance shows the business has "turned a corner." He says the company's strategy for the upcoming year includes continued emphasis on revenue, cost control, and expanding its geographic and market footprint. Hickman highlights plans for product enhancement and development, driven by customer feedback. Furthermore, Cornerstone FS plans to expand its payment network, increasing its ability to deliver currency locally and extend its jurisdictional reach. Detailed expansion plans are expected to be announced in January. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:07 PM Eastern Standard Time

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AFC Energy unveils "world-first" modular ammonia cracker

AFC Energy PLC

AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond speaks to Thomas Warner from Proactive after the hydrogen technology provider unveiled what it calls its world-first modular ammonia cracker system. Bond speaks to Proactive from COP28 in Dubai, where he explains he's been talking to people about hydrogen's role in the global economy. He goes on to explain the significance of today's news, saying that the modular cracker enables the efficient transportation and conversion of ammonia into hydrogen, a key element in the emerging green economy. Ammonia, composed primarily of hydrogen, is an effective medium for hydrogen transport. Bond explained that the modular nature of their technology allows for scalability and adaptability in various settings, including maritime applications, addressing a major logistical challenge in the green energy transition. AFC Energy's technology has already been installed in the UK, showcasing the complete value chain from production to consumption. The modular system allows for scaling according to demand, minimising overinvestment. Additionally, it opens possibilities for use in the maritime sector, supporting the shift to ammonia as a fuel in global shipping. Following the successful demonstration, AFC Energy anticipates further commercial success and partnerships, including a recently signed letter of intent for joint marketing of ammonia supply and hydrogen production. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:06 PM Eastern Standard Time

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Ondo InsurTech raises £1.08mln to support expansion plans

Ondo InsurTech PLC

Ondo InsurTech PLC (LSE:ONDO) CEO Craig Foster speaks to Thomas Warner from Proactive after the claims prevention technology company announced it has raised £1.08 million via a placing completed yesterday after market close. Foster details the company's successful capital raise and strategic plans for expansion, particularly in the United States. This fundraising follows the signing of a breakthrough contract with Nationwide, a Fortune 100 U.S. insurance company, for Ondo's LeakBot solution as part of Nationwide's smart home program. Foster describes this deal as a significant vote of confidence from a major U.S. insurer. The capital raised this week will primarily support execution of this U.S. contract and a similar rollout deal with Sweden's largest insurance company. These deals represent a substantial scale-up, involving larger customer cohorts and more significant insurance firms than Ondo's previous contracts. The funds will also bolster the sales pipeline and leverage current business momentum. Foster emphasises Ondo's focus on addressing the global issue of water damage claims and environmental problems caused by household leaks. Ondo's patented, unique solution has garnered significant interest in the insurance industry and from water companies, driven by its environmental benefits. Heading into the new year, Foster's primary goal is to accelerate deal signings and market introductions, capitalising on the company's current momentum. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:05 PM Eastern Standard Time

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MP Evans Group building for the future with fresh increase in land holding

MP Evans Group PLC

MP Evans Group PLC (AIM:MPE) CEO Matthew Coulson speaks to Thomas Warner from Proactive after announcing the acquisition of over 8,000 newly planted hectares in East Kalimantan, Indonesia, marking an approximate 15% increase in the company's landholding. Coulson highlights the youthful nature of the new hectarage, which was primarily planted between 2017 and 2019, predicting it will significantly boost crop yields to match or surpass their current average of over 23 tons per hectare. He says the acquisition reflects MP Evans' commitment to sustainable growth and enhancing their milling capacity. Earlier in 2023, the company had already expanded with a new mill and an additional 2,000 hectares in Sumatra. These developments, including the latest in East Kalimantan, demonstrate MP Evans' end-of-year momentum and strategic focus on areas adjacent to their existing operations. Coulson remains optimistic about shareholder satisfaction, citing the company's success in meeting strategic goals such as increasing the proportion of crop processed in their own mills. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:03 PM Eastern Standard Time

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Iofina brings production up to speed at IO#9 and looks to the future

Iofina PLC

Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker speaks to Thomas Warner from Proactive after the iodine producer confirmed that IO#9, launched in June 2023, is now successfully producing 100-150 metric tonnes annually after a period of running below capacity. Becker goes on to reveals plans for a tenth plant, leveraging lessons from IO9's slow start. This new plant, situated near IO#9 in western Oklahoma, is part of Iofina's ongoing expansion, with a potential launch in mid-to-late next year. The company aims to streamline processes and has made additional hires to facilitate this growth. He also addresses efforts to bolster sales and marketing efforts, which include hiring a senior sales and market manager. This role will enhance customer relationships and explore new specialty chemical products. Additionally, Iofina is conducting R&D and scaling up new product lines, with upcoming website enhancements to support marketing and communication. Regarding iodine prices, a crucial aspect for Iofina, Becker noted a slight decline from previous highs but expects stable prices around $65-$70 per kilo. The demand for iodine, particularly in injectable contrast agents, remains strong, suggesting continued high market prices, barring any major disruptions. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:02 PM Eastern Standard Time

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Curvance Raises $3.6M in Seed Round from Over 20 DAOs and DeFi Builders including Offchain Labs and Wormhole

Curvance

Curvance introduces a new, efficient approach for users to yield farm and maximize yield on their DeFi investments Curvance, a full-service omnichain money market for yield-bearing, LSDfi, tokenized treasuries, and primitive assets, announces the close of a $3.6M seed round supported by Offchain Labs, Wormhole, prominent angel investors including Polygon Co-Founder Sandeep Nailwal, and core contributors from Scroll, Mantle, Eigenlayer, GMX, Curve Finance, Convex Finance, Balancer, Aura Finance, and Pendle Finance. Decentralized Autonomous Organizations (DAOs) such as Frax Finance and others also contributed to the round. Founded in 2022, Curvance is the “everything app” for lending and borrowing, providing decentralized finance (DeFi) users with an all-encompassing way to manage any of their assets, eliminating fragmentation and barriers to entry in the ecosystem. “Curvance will give users of any blockchain an easy route to participate in Polygon DeFi, with the potential to make onboarding easier than ever. As DeFi on Polygon zkEVM and Polygon CDK continue to gain momentum, reducing friction into DeFi opportunities is more powerful than ever,” says Sandeep Nailwal from Polygon. By tapping into omnichain infrastructure, Curvance is able to support Ethereum, as well as numerous partner chains simultaneously such as Arbitrum, Optimism, Scroll, Base, and Polygon zkEVM. Curvance’s cross-functional omnichain design unlocks capital efficiency not possible prior, working in tandem with Decentralized Exchanges (DEXs) like Curve, Balancer, Velodrome, GMX, Pendle, and other assets such as Liquid Staking Derivatives (LSDs). “With this funding round, Curvance will be able to expand on its value proposition of bringing forward a more approachable money market experience for both DeFi newcomers and experienced yield farmers and traders alike “ says Curvance Co-Founder, Chris Carapola. “We are excited to have attracted a group of investors who bring incredible experience and are ready to work with us toward our shared vision.” Carapola says the raised capital will be used to continue Curvance’s operations costs, support continued security audits, as well as maintain and hire more in-house talent for the project. “When we started looking for funding, we chose to talk to our partners first, instead of just going to venture capital firms,” commented Curvance Co-Founder Michael Butcher. “This way, we ended up with a group of investors who care about our long-term success. We’re happy with how it turned out and can’t wait to launch Curvance on testnet soon.” Users can learn more about Curvance by visiting Curvance’s website and follow them on Twitter. About Curvance Curvance is a full-service omnichain money market for yield-bearing assets. Users can collateralize, leverage, and boost asset rewards across DeFi, with optimal efficiency, and consolidate DeFi yield across various assets such as AMM LPs, Perpetual Exchange LPs, interest-bearing stablecoins, and more, in one user interface. Contact Details Curvance Margaret Hyde margaret@curvance.com

December 05, 2023 12:01 PM Eastern Standard Time

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Oncimmune "relaunch" already delivering results

Oncimmune Holdings PLC

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone speaks to Thomas Warner from Proactive London about what he describes as the relaunch of the business. Gouldstone discusses the significant changes made to the company's strategy following his appointment in August, saying that his primary focus has been on maximising the commercial and scientific value of the company's Immune Insights platform, centred in their Dortmund labs. The new strategy, announced on October 12th, aims to expand the platform's capabilities in drug discovery and development and reach different customer verticals, extending from big pharma to smaller biopharma and CRO partnerships. With extensive industry experience dating back to 1990, including roles in major CROs and corporate finance, Gouldstone brings a wealth of expertise to Oncimmune. Since taking the helm, he has conducted a comprehensive review of the business, covering everything from finances to operations. The outcome has been positive, with a productive team in Germany, established relationships with large pharma, and a growing commercial team. Gouldstone's short tenure has already seen tangible successes, including the signing of four deals aligned with the new strategy, indicating early commercial traction. He anticipates continued growth and success in line with the company's evolving strategy and robust pipeline. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

December 05, 2023 12:00 PM Eastern Standard Time

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