Pressure Technologies PLC (PRES)
Posted: January 6th, 2022, 7:23 pm
Here's a company which may be a beneficiary of the move to a net zero economy.
https://www.pressuretechnologies.com/
I was in two minds about investing in these as they have been shockingly accident prone over the last few years but things may finally be looking up for them.
They have two divisions, Chesterfield Special Cylinders and Precision Machined Components. The green angle comes from CSC which is picking up increasing orders for hydrogen storage tanks and made a decent profit last year. PMC sells mostly into the oil and gas market so probably lacks green credentials but they are trying to diversify away from this into emerging technologies. This business is currently loss making.
Anyway the orders for hydrogen storage grew from £0.2m in 2020 to £2.2m in 2021 and the company is increasing capacity to accommodate further growth.
This year overall they expect to report a modest loss but after a fundraising the balance sheet is strong and the company trades at about the level of net tangible assets (£20m).
The end of year trading update is here:
https://www.investegate.co.uk/pressuret ... 00011533S/
The final results should be out in a couple of weeks time and they might be worth keeping an eye out for.
https://www.pressuretechnologies.com/
I was in two minds about investing in these as they have been shockingly accident prone over the last few years but things may finally be looking up for them.
They have two divisions, Chesterfield Special Cylinders and Precision Machined Components. The green angle comes from CSC which is picking up increasing orders for hydrogen storage tanks and made a decent profit last year. PMC sells mostly into the oil and gas market so probably lacks green credentials but they are trying to diversify away from this into emerging technologies. This business is currently loss making.
Anyway the orders for hydrogen storage grew from £0.2m in 2020 to £2.2m in 2021 and the company is increasing capacity to accommodate further growth.
This year overall they expect to report a modest loss but after a fundraising the balance sheet is strong and the company trades at about the level of net tangible assets (£20m).
The end of year trading update is here:
https://www.investegate.co.uk/pressuret ... 00011533S/
The final results should be out in a couple of weeks time and they might be worth keeping an eye out for.