Tracsis
Tracsis (AIM: TRCS), a leading developer and consolidator of resource optimisation software, condition monitoring technology, and consultancy services to passenger transport industries, is pleased to issue the following trading update, ahead of its interim results for the six months ended 31 January 2013.
Group trading in the six month period has been buoyant, with revenue expected to be in excess of £4m (H1 2012: £3.7m). It is expected that both Adjusted EBITDA and Profit Before Tax will both be ahead of the same period last year and, accordingly, trading is in line with expectations.
The Balance Sheet remains robust, with cash balances in excess of £8.5m and the Group remaining debt free. As part of our commitment to a progressive dividend policy, the Board intends to recommend an interim dividend in due course.
The Group looks forward to the outcome of the Brown review which will determine how and when rail franchising activity returns to normal. The Directors believe the Group remains well positioned for future growth and continues to benefit from an excellent financial position, a diverse product offering, and a great pipeline of acquisition prospects that will stand Tracsis in good stead for the future.
John McArthur, Chief Executive Officer commented
“The Group has produced further growth in the period and is trading in line with expectations at the half year point.
“There is still a lot to be delivered in the months ahead but the Directors remain cautiously optimistic. We will continue to pursue our stated strategy and we feel confident of achieving further growth this year.”
For more information please contact:
| John McArthur, Tracsis plc | Tel: 0845 125 9162 |
| Katy Mitchell, WH Ireland Limited | Tel: 0113 394 6618 |
| Rebecca Sanders Hewett/Jenny Bahr, Redleaf Polhill | Tel: 0207 566 6720
Tracsis@redleafpolhill.com |
Xeros
Triumphs at Rushlight Awards 2013
Xeros has won two of the UK’s most coveted green innovation awards at Rushlight Awards 2013, held in the presence of Rt. Hon Greg Barker MP, Minister of State for Energy & Climate Change, and representatives from across the cleantech investment and green innovation spectrum.
Xeros was named winner of the Rushlight Sustainable Manufacturing & Services Award and the winner of the Rushlight Environmental Management Award. The latter award represents the best technology, product or service chosen by judges from the winners of five Rushlight awards categories. These included the Clean Environment award, Responsible Product / Service award, Sustainable Agriculture, Forestry & Biodiversity award, Environmental Analysis & Metrology award and Sustainable Manufacturing & Services award.
Xeros cleans clothes with very little water and patented Xeros polymer beads. The cleaning system comprises a special washing machine designed to release the beads into the drum for cleaning, and removing the beads from the clothes once the cleaning is complete. Up to 80% less water, 50% less energy and 50% less detergent is used in the Xeros system versus conventional washing, yet Xeros delivers superior cleaning results.
The $100 billion global laundry industry is the initial market for the Xeros polymer bead cleaning system. The technology launched into the commercial laundry market in late 2012 with initial sales into UK and US laundries.
Bill Westwater, Chief Executive Officer of Xeros, said: “We are delighted to have been recognised for the overall environmental and performance benefits of the Xeros cleaning system. We have a big but simple idea: to convert the traditional world of aqueous washing to Xeros polymer bead cleaning. These awards represent another milestone in our journey towards making that idea a reality.”
Clive Hall, Founder/ CEO of Eventure Media, which runs the Rushlight Awards, said: “The savings on water, detergent and power are impressive as is the potential to extend the life of garments.”
OxfordPV
Parkwalk closes OxfordPV follow-on investment
OxfordPV has developed a new solar cell technology that is manufactured from inexpensive, abundant, non-toxic and non-corrosive organic materials and can be scaled to any volume.
The technology replaces the liquid electrolyte with a solid organic semiconductor, enabling entire solar modules to be screen printed onto glass or other surfaces.
YASA
Parkwalk closes Oxford YASA Motors investment.
YASA Motors is a dynamic and innovative electric motor company bringing a new generation of high power and high torque density electric motors to market.
The Company has developed class leading axial flux traction motors for use in both Automotive (EV’s & HEV’s) and also Industrial applications
Xeros
Second affirmation site in the US
RESTON, Va.–(BUSINESS WIRE)–Xeros Ltd, the UK-based innovator of a “virtually waterless” laundry cleaning system, announced today that the Hyatt Regency Reston, Virginia will become an affirmation participant and begin using Xeros’ proprietary cleaning solution for its guestrooms and restaurant. The revolutionary, eco-friendly Xeros washing machine was installed at the property on Tuesday, December 4th to expertly launder Hyatt’s guest room and dining room linens and bath towels using less water, less chemicals and less energy than traditional methods. This marks the second affirmation site for Xeros in the United States. The company first entered the US market in September 2012 with its first washing machine placed at Sterling Linens in Manchester, New Hampshire…..
Tracsis
Parkwalk UK Tech Fund II Portfolio company Tracsis wins the
Mid Sized ‘Growing Business Awards’ Company of the Year 2012
London Marriott Hotel, 27th November
Clean Air Power
Contract Win
Clean Air Power (AIM:CAP), the developer of Dual-Fuel™ combustion technology that enables heavy-duty diesel engines to operate on a combination of diesel and natural gas, is delighted to announce that it has received a significant Genesis Edge systems order from a European logistics operator.
Clean Air Power, which launched a new Renault Magnum compatible Genesis Edge Dual-Fuel™retrofit system earlier this year, has received an order for a further 30 systems. This is in addition to an order previously received for 50 systems from the same Spanish customer announced in April.
These new systems will be delivered to the customer during 2012 and is further confirmation that this new system is being well received and delivering the expected financial and environmental benefits.
Commenting on the announcement, John Pettitt, CEO of Clean Air Power said:
“This is a significant order for Clean Air Power and follows a previous order from the same customer earlier this year.
Clean Air Power’s progress, together with the increasing recognition of natural gas as a road fuel among major manufacturers and global fuel providers, is very encouraging. Our range of product offerings continues to develop and will give us the opportunity of entering new markets, both for our retrofit and our OEM systems.”
DefiniGEN
Parkwalk closes DefiniGen investment for the University of Cambridge Enterprise Fund I
DefiniGEN provides human cells to the drug discovery sector for use in lead optimization and toxicity programmes.
The Company’s proprietary production platform OptiDIFF robustly generates human cell types including liver hepatocytes using hIPSC human Induced Pluripotent Stem Cell technology.
Clean Air Power
Parkwalk closes Clean Air Power investment for the UK Tech Fund III
Clean Air Power has pioneered the move towards using natural gas to power vehicles by developing Dual-Fuel™ technologies that guarantee diesel engine performance, with significant cost savings and low carbon emissions.
Minimal changes are required to the existing diesel engine and by burning up to 90% natural gas, customers benefit from a combination of low emissions and high efficiency.
Tracsis
Final Results beat expectations
Tracsis plc (“Tracsis” or the “Company” and with its subsidiaries the “Group”) (AIM: TRCS), a leading developer and consolidator of resource optimisation software, condition monitoring technology, and consultancy services to passenger transport industries, is pleased to announce its audited final results for the year ended 31 July 2012.
Financial Highlights:
- ·Revenues increased 112% to £8.7m (2011: £4.1m)
- ·Adjusted EBITDA* increased 164% to £3.3m (2011: £1.2m)
- ·Profit before tax increased 169% to £3.0m (2011: £1.1m)
- ·Cash balances up by £2.9m to £7.6m (2011: £4.7m)
- ·Early settlement of deferred consideration in respect of the MPEC acquisition
- ·Final dividend proposed of 0.35p per share. Interim dividend of 0.2p per share paid during the year, hence full year dividend of 0.55p
* Earnings before finance income, tax, depreciation, amortisation, exceptional items and share-based payment charges
Operational Highlights:
- ·Several new contract wins across the Group
- ·Continued uptake and demand for the MPEC condition monitoring technology
- ·First sales of TRACS-RS, a new software product which aids with the process of rolling stock vehicle planning
- ·Sustained involvement with UK rail refranchising where Tracsis works with a variety of transport operating groups
- ·COMPASS software product completed a major system delivery in Scandinavia
- ·Several key projects delivered across Northern Europe and Australasia
John McArthur, Chief Executive Officer, commented:
“We are once again delighted with the performance of the Group, with strong growth in both revenue and profitability. Looking ahead, we remain well placed to address the needs of the transportation industry – primarily removing extraneous resourcing costs plus improving service delivery and network robustness. There is a significant growth opportunity available to Tracsis both in the UK market and overseas and we will address this both organically and through acquisitions as appropriate.”
Enquiries:
| John McArthur, Tracsis plc | Tel: 0845 125 9162 |
| Katy Mitchell, WH Ireland Limited | Tel: 0113 394 6618 |
| Rebecca Sanders Hewett/Jenny Bahr, Redleaf Polhill | Tel: 0207 566 6720 |
Chairman’s and Chief Executive Officer’s Report
Introduction
We are pleased to report on a further period of substantial growth for Tracsis plc, our fifth in a row since joining AIM and a year that has been a step change in the size, profitability and maturity of the Group.
Originally a niche software play, Tracsis has now developed a diverse range of complementary software, hardware and services, all of which are focused on delivering demonstrable performance improvements to our transport clients whether that be in reducing direct cost, improving service delivery and compliance, or increasing overall network performance.
The Group works with almost all of the leading passenger transport companies within the UK such as Arriva, First Group, Go-Ahead, National Express, Stagecoach, and Virgin. Given these credentials we now stand on the cusp of breaking into overseas markets with several key projects having been delivered in the past 12 months across Northern Europe and Australasia. Our successes have led to Tracsis now employing close to 50 full time staff and over 200 contractors working across three UK offices.
Moreover, looking at pure financial metrics, in less than five years we have grown revenues from less than £1m at IPO to £8.7m this year whilst generating £3.3m Adjusted EBITDA*. This is a business that has delivered during some spectacularly tough times none more so than in the current year.
* Earnings before finance income, tax, depreciation, amortisation, exceptional items and share-based payment charges
Business overview
Tracsis is a provider, developer and consolidator of resource optimisation software, consultancy services and technology for companies in the passenger transport industries. We operate mainly in the UK but are increasingly expanding our horizons to overseas markets.
Tracsis’ market offering can be broadly categorised into three distinct revenue streams at present;
1. Application software: Tracsis has developed various products to optimise resources (including staff scheduling & rostering, and rolling stock scheduling), capture data, manage the collated information and report and communicate performance.
2. Professional services: Tracsis offers operational and performance planning consultancy and modelling / simulation along with passenger demand analysis & surveying; and
3. Condition monitoring and data logging equipment that includes embedded software for the management and maintenance of infrastructure.
These products and services have a common theme in assisting transport operators run a more efficient and productive service. This is achieved through the optimisation of resource allocation, both people and vehicles, coupled with tools that assist with strategic and operational planning issues and decision making. Given the increasing importance of passenger transport markets within the UK and abroad, the Directors believe these to be growth markets and that there will be sustained demand for the Group’s products and services in years to come.
In June of 2011, we acquired MPEC Technology Limited (MPEC), our fourth acquisition to date. The 2010/11 results only included two months of trading for MPEC, but the acquisition was part of the Group for a full year in 2011/12, and the contribution to the Group has been very significant.
UK Universities
BIS/HEFCE: £1bn to be invested in UK R&D
More than £1 billion to be invested in UK science and research
Seven new university and business research partnerships in sectors including life sciences, energy efficiency and advanced manufacturing were announced today by David Willetts, Minister for Universities and Science.
The new projects double the number of winning bids from the UK Research Partnership Investment Fund (UK RPIF) to 14. When complete, the scheme will deliver more than £1 billion of new funding for research from Government, industry and charities.
The 14 winning bids, which cover the whole of the UK, will take up £220 million of public funding and leverage in over £600 million of private support. There will shortly be a new bidding round for the remaining £80 million of public investment, and both new and resubmitted bids will be eligible.
David Willetts, Minister for Universities and Science, said:
‘It is fantastic that our top businesses and top charities are queuing up to collaborate with our world-class universities. They want to work together to deliver innovation, commercialisation and growth.
‘The winning projects will tackle the key issues we face – like fighting disease, ensuring energy efficiency and improving infrastructure – for the benefit of all.’
Sir Alan Langlands, Chief Executive of HEFCE, said:
‘The demand for funding from the UK Research Partnership Investment Fund demonstrates the power of universities in promoting economic growth through research and knowledge exchange. The support from international companies and world-leading charities – all making hard-headed investments – is a tribute to the excellence of scientific and research staff in our universities.’
The seven projects announced today are:
- A £38 million partnership between the University of Manchester, The Christie hospital and Cancer Research UK to develop the Manchester Cancer Research Centre. This will look at cancer treatments targeted to individuals based on the specific characteristics of their tumour biology. It will span laboratory research through to clinical trials, and patient care and focus on five research areas: radiation therapy, lung cancer, women’s cancers, melanoma and haematological oncology.
- An £85 million partnership between UCL (University College London) and the Great Ormond Street Hospital. The Centre for Children’s Rare Disease Research will combine the specialist research expertise of the UCL Institute of Child Health with the unique patient cohort at Great Ormond Street to find treatments and cures for rare diseases, of which over 6,000 have been identified.
- A £32 million partnership between Queen’s University Belfast, The Atlantic Philanthropies, a Wellcome-Wolfson Capital Award, The Sir Jules Thorn Charitable Trust and the Insight Trust for the Visually Impaired to deliver the next phase of the Institute of Health Sciences. The Centre for Experimental Medicine will bring researchers working on vision sciences onto the campus alongside new research programmes in diabetes and genomics.
- A £34 million partnership between the University of Nottingham and GlaxoSmithKline to support the Centre of Excellence in Sustainable Chemistry. This will be housed within the new Carbon Neutral Laboratory, and will minimise environmental impact. It will ensure that chemistry becomes more energy- and resource-efficient and sustainable in meeting society’s needs for better medicines, safer agrochemicals and new materials.
- A £38 million partnership between Swansea University, British Petroleum (BP), and TATA Steel Europe for the development of the Energy Safety Research Institute. This will capitalise on the university’s strengths in petroleum and chemical processing, and focus on the safety issues surrounding the development of existing energy processes, as well as the safe deployment and integration of new green energy technologies.
- A £60 million partnership between Brunel University, TWI and other companies to develop a National Research Centre for Structural Integrity. This will act as a dedicated national hub for interdisciplinary research into the soundness of the design and constructions of products, plant and infrastructure across the energy, transport and advanced manufacturing.
- A £150 million partnership between Imperial College London and Voreda to contribute to the development of a major new campus adjacent to the White City regeneration area. The centrepiece will be the Research and Translation Hub, which will provide high-specification research and incubator space for 1,000 researchers investigating next-generation materials and spin-out companies.
UK RPIF was first launched with £100 million of public finance in May 2012. In response to the large number of high-quality bids, the Government has recently tripled the public support to £300 million. All projects have to include private funding from industry or the charitable sector worth a minimum of double the public contribution – making more than £1 billion of investment in total.
The 14 projects that have gained UK RPIF funding will provide a base for developing new knowledge to support economic growth, and to help meet the health needs of the UK and the wider world. Universities are contributing over £70 million from their own resources.
ACAL Energy
Vince Cable MP visit to ACAL Energy
Rt Hon Vince Cable MP, Secretary of State for Business, Innovation and Skills met with Liverpool City Region LEP representatives last week. (Thursday 18th October 2012)….
OxfordPV
Oxford researchers have developed a photovoltaic (PV) technology that has the potential to deliver low cost, efficient solar cells that can be readily incorporated into glass building facades. Results just released in the journal Science promise to provide the lowest cost-performance photovoltaic solution on the market. The technology makes use of a simple manufacturing process with inexpensive and abundant raw materials. Prototypes of these new Meso-Superstructured Solar Cells (MSSC) demonstrated in the journal have already achieved an impressive 10.9% efficiency…..
Revolymer
Revolymer: Interim Results
Interim Results for the 6 month period to 30 June 2012
Continued progression with strategic goals
Revolymer plc (AIM: REVO) (“Revolymer”), the British polymer company, designs, develops and formulates novel polymers to improve the performance of existing consumer products within the high value fast moving consumer goods (“FMCG”) markets. Following its initial public offering (“IPO”) on the AIM Market of the London Stock Exchange in July 2012, it announces its maiden unaudited interim results for the 6 month period to 30 June 2012.
Business Highlights*
· In line with our strategy stated within our Admission document, Revolymer continues to focus on developing licensing opportunities for its unique technologies with well-established players in the global high value FMCG industry
· Good progress with our 6 joint development agreements (“JDAs”) with major international partners in the household products and coatings & adhesives business areas. JDAs have been key to establishing the application of our technologies in specific FMCG markets, ahead of licensing. A number of personal care applications are also being evaluated by potential partners
· Launch of nicotine gum in Canada through two pharmacy businesses of the McKesson group (announced 30 July 2012)
· Further strengthening of the board of directors with the appointments of Julian Heslop, former CFO of GSK and Dr Bryan Dobson, formerly President Global Operations Croda, both as independent non-executive directors
Financial Highlights*
· Successful listing raising £25 million, with £23.2 million net proceeds to invest in progressing the business model
· Revenue for the period of £135,000 (2011: £60,000), reflecting increased early stage sales of Rev7 removable and degradable confectionery gum (“Rev7”) in the US and early sales of nicotine gum in Canada
· Gross loss for the period of £242,000 (2011: gross profit of £34,000), but after charging a non-cash write down of £305,000 (2011: nil) in relation to time expiring US Rev7 gum stock delivered in H1 2011 when US demand was difficult to gauge due to the early stage of the US business. Gross profit for the period before the stock write down was £63,000 (2011: £34,000)
· Other operating income for the period of £88,000 (2011: £294,000), reflecting receipts from potential licensing partners in the consumer specialties business areas. This level of income reflects the advanced status of a number of our JDAs
· Loss for the period of £4.0 million (2011: loss £2.1million), after making non-cash charges in respect of share based payments to employees, board members and consultants (i.e. option grants) of £1.4 million (2011: £99,000), which is a result of all options vesting at Admission and therefore an acceleration in the period of the charge under IFRS2
Dr Roger Pettman CEO of Revolymer said: “We are delighted to have successfully floated the Company and raised £25 million to invest in delivering shareholder value. Since listing in July we have moved forward on a number of business fronts, including continued progress in our JDAs with major international partners. As a result, we remain confident that we are on track to deliver on our strategy of signing licences that will lead to the commercialisation of our high value polymer technologies to improve the performance of existing consumer products within the FMCG markets.”
*: relating to the business of Revolymer (U.K.) Limited prior to its acquisition by Revolymer plc
For further information please contact:
Revolymer plc
+44 (0) 1244 283 500
Roger Pettman / Rob Cridland
Citigate Dewe Rogerson
+44 (0)20 7638 9571
Simon Rigby / David Dible / Ginny Pulbrook
Xeros
Deputy Prime Minister Clegg visits Xeros
Xeros, the company responsible for the development of the “virtually waterless” laundry system, has set its sights on sales in both the UK and North American commercial laundry industries.
Xeros’ technology uses a fraction of the water, energy and detergent required for conventional cleaning methods, and provides significant cost-saving and environmental benefits. Through the use of polymer bead technology, this revolutionary cleaning process has been proven more effective than traditional methods.
By combining the beads’ molecular structure with a proprietary detergent solution, the result is a superior cleaning medium that beats even water. The dirt from soiled items is attracted and absorbed by the beads, producing cleaner results than aqueous washing methods.
In the US, the Xeros system has been installed at Manchester, New Hampshire’s Sterling Linen Services, a high-quality linen processing and rental service for area hotels, hospitals and restaurants. Meanwhile in the UK the company are celebrating the sale of its first machine to high street laundry chain, Johnsons.
Xeros plan to officially roll-out their commercial solution at the 2013 Clean Show for the commercial laundry marketplace, with a household sized machine in development for launch in 2014. The first Xeros machines – capable of washing up to 25kg of clothes at a time – are aimed at the commercial cleaning market, which includes hotels and institutions like prisons and hospitals, as well as high street cleaners.
Deputy Prime Minister, Nick Clegg recently toured Xeros’ facility at the Advanced Manufacturing Park (AMP) in Rotherham. During the visit he commented; “It takes your breath away. It is such a simple idea, but it is so revolutionary,” said Mr Clegg. “It could save billions and billions of litres of water over time. The implications are profound in terms of water and energy use.
“This is a great example of what we want to see happening in the British economy. It was academics that first came up with the idea and it has been translated, partly thanks to support from the government and private investors, into something that hopefully make its way into the shops fairly soon.”
Xeros was named a top invention by TIME magazine, winner of ‘Best Technological Breakthrough’ in The Climate Week Awards 2011; listed in WWF’s survey of global ‘Green Game Changers’ and selected as one of 19 best fast-growing ‘Clean and Cool’ companies to go on a government-sponsored mission to Silicon Valley in February, 2010.
CCMOSS
Parkwalk closes Cambridge CMOSS investment for the University of Cambridge Enterprise Fund I and the UK Tech Fund III
Cambridge CMOS Sensors is the provider of innovative MEMS high temperature microhotplate technology for gas sensing, flow sensing and lab-on-a-chip applications.
The Cambridge CMOS Sensors technology uses standard CMOS processes that enable high volume, low cost and low power sensor-on-chip solutions.
Arkivum
Parkwalk closes Arkivum investment for the UK Tech Fund III
Arkivum has developed a safe and simple process to manage data security and safety. The company has developed ‘best practice’ for the long term preservation of digital data.
The process has the highest integrity to ensure information remains in bit-perfect condition all the time.
Revolymer
Launch of degradable nicotine gum
Revolymer, the British polymer company developing products for a number of high value fast moving consumer goods (FMCG) markets which has recently listed on AIM (“REVO”), is pleased to announce that is has closed distribution deals with Associated Retail Pharmacies (” ARP”) and Family Health Care Pharmacies (“FHCP”), both subsidiaries of the McKesson Group, and launched its nicotine gum in Canada.
ARP is western Canada’s largest pharmacy association and FHCP is a Canadian independent pharmacy with locations in Ontario and the western province. These two pharmacy chains will be offering Revolymer’s nicotine gum (Rev7 Generation 2) for sale under the ‘Preferred’ brand. The products are being distributed by SDS Pharma on Revolymer’s behalf with Canada being the first country ever to benefit from this unique gum.
The nicotine chewing gum market is worth over US$1.2bn worldwide (Source: Datamonitor). Revolymer has applied its proprietary polymer technology which not only controls the release of nicotine but also helps to mask its bitter taste through molecular encapsulation. The product has been scaled up by a manufacturing partner with 2.5 million pieces of gum made in both 2 and 4 mg doses with flavours of spearmint, peppermint and fresh fruit.
Third party evaluations have confirmed that the Revolymer product is superior in taste and texture to current generic nicotine gums, and, as it lacks the bitter taste of many commercial nicotine gums, it should further help smokers in their quest to quit smoking. Moreover, an additional benefit to ex -smokers is that the product will whiten teeth as it is chewed.
Commenting on the announcement, Roger Pettman, Chief Executive of Revolymer plc, stated:
“In July we successfully listed Revolymer on the AIM market and raised £25million to support our strategy of launching new polymer-based products. We expect this strategy to generate significant and growing high quality revenue streams as we license our unique technologies to manufacturers and marketers within the global high value FMCG, allowing us to leverage our relatively low and static cost base. Today’s deal with two important Canadian subsidiaries of the McKesson Group endorses this strategy, gives us an opportunity to exploit the $40m Canadian nicotine gum market, and is an important step in realising significant value from our unique polymer technology platforms.
“Achieving regulatory approval and then distribution across Canada so quickly is another key milestone for Revolymer and I am also delighted to be working closely with Greg and the team at SDS Pharma.”
Greg Kelly, President of SDS Pharma added, “We at SDS Pharma Partners are very excited to be working with Revolymer on the introduction of new nicotine replacement gums to Canada.
Consumer and customer responses have demanded improved taste and a more pleasant mouth-feel versus the currently marketed products. Revolymer meets and exceeds those demands and the resulting user experience is superb.”
Tracsis
Commences Scandinavian trial
Tracsis plc has started trialling a new system in Scandinavia as it looks to develop new markets.
The system, which monitors railway engineering assets, is based on data logging technology, which is produced by the Tracsis subsidiary MPEC Technology and is already used in the UK.
This technology can be used within rolling stock equipment such as train engines and carriages, said Tracsis.
John McArthur, chief executive, said: “I am delighted to see our proven technology making headway into new territories – both geographically and industry wise. We believe that there is a significant opportunity for us to replicate the success we have had in the UK elsewhere and look forward to developing new markets going forward.”
The trial is taking place in partnership with an existing client and marks the possibility of Tracsis “entering a new market within the broader transport technology space”, said the company.
Last month, the Leeds-based firm announced its third profit upgrade this year.
For more information please contact:
| John McArthur, Tracsis plc | Tel: 0845 125 9162 |
