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Highlights
- Engine maker Rolls Royce and state-owned fund Qatar Foundation entered into a long term multi-billion-pound deal for boosting driving green engineering start-ups in the UK.
- The deal involves developing 2 campuses, one in Northern England, and one in Qatar and aims to create about 1,000 jobs from the campus development.
British aerospace engine maker Rolls-Royce and state-owned fund Qatar Foundation entered into a long-term partnership with plans to invest billions into green engineering projects in the UK.
The collaboration aims to build and develop climate tech businesses at two campuses. The campuses are expected to be built at Northern England and in Qatar and will lead to the creation of 1,000 jobs.
The partnership also expects about 10,000 additional jobs will be created from the businesses launched from the campus and also in the broader green sector.
The deal aims to build 5 unicorns, that is, companies with a valuation of over US$ 1 billion, by 2030, and have 20 unicorns by 2040.
Rolls Royce is expected to aid in the technical know-how and skills development, while Qatar Foundation will provide the funds. The deal was announced on the sidelines of the COP 26 climate talks in Glasgow.
The move is expected to boost the clean energy sector, especially the areas which were the most difficult to decarbonise.
In view of this, let us take a look at 2 AIM-listed tech and engineering-focused stocks in the alternative energy sector and their investment prospects:
- Velocys PLC (LON:VLS)
FTSE AIM All-Share index listed firm Velocys is a fuels technology company, which was formerly known as Oxford Catalyses Group.
The company’s H1 2021 revenue was at £8.2 million, up from £0.2 million in H1 2020. The sharp increase was primarily due to receiving licensing fees, reactor sales and also a catalyst for a 2017 customer contract.
(Image source: Refinitiv)
Velocys’ shares were trading at GBX 6.82, up by 0.66 per cent on 2 November at 11:07 AM BST, while the FTSE AIM All-Share index was trading at 1,228.17, down by 0.06 per cent.
The company’s market cap stands at £ 72.20 million, and its one-year return is at 42.25 per cent as of 2 November.
- Proton Motor Power Systems PLC (LON: PPS)
FTSE AIM 100 index listed company, Proton Motor, is a fuel cell manufacturer.
The group reported its H1 2021 order intake was £1.8 million is expected to be delivered by 2023, from its total order book of £7.3 million. The order intake also includes repeat orders from the international engineering and aerospace group, GKN.
The company’s H1 2021 sales were at £922 thousand, compared to £1.1 million in H1 2020.
(Image source: Refinitiv)
Proton’s shares were trading at GBX 52.00, up by 7.22 per cent on 2 November at 10:52 AM BST, while the FTSE AIM 100 index was trading at 6,018.62, up by 0.08 per cent.
The company’s market cap stands at £375.57 million, and its one-year return is at a negative 5.10 per cent as of 2 November.
