IES is down 57% in the last year, 77% over 5 years. Market cap a mere £52m. The Frontier announcement on 18 Feb caused a 2.5% spike at the open but by the end of the day it was down over 3%. Since the good news from 18 Feb it's down 10%.
On the other hand, I see it did a fundraise of £57m in May 2024, £25m of which was from UKIB (UK Infrastructure Bank, which was renamed the National Wealth Fund (NWF) in October). This is the Labour government's interpretation of a national wealth fund; rather different to, for example, the Norwegian one in that ours is funded entirely by debt.
IES changed its domicile from Jersey to the UK in January, presumably to make it easier to keep getting financial assistance from government agencies. To be fair, they also talk about certain investors only being able to invest in UK companies.
Seems to me like IES would be insolvent were it not for the UK government and Ed Miliband's net zero agenda; yet another jam tomorrow AIM outfit with a good idea but delusional about how much capital they require and far too optimistic about sales. As a result, having to constantly do capital raises and dilute existing shareholders.
However, government backing means that this might be worth a punt.
"NESO is a non-political body remember, an offshoot of National Grid."
It used to be an offshoot of NG, but not since October. It was purchased by the government - https://www.addleshawgoddard.com/en/insights/insights-briefings/2024/infrastructure-projects-energy/national-grid-neso-new-national-energy-system-operator-great-britain
IES is down 57% in the last year, 77% over 5 years. Market cap a mere £52m. The Frontier announcement on 18 Feb caused a 2.5% spike at the open but by the end of the day it was down over 3%. Since the good news from 18 Feb it's down 10%.
On the other hand, I see it did a fundraise of £57m in May 2024, £25m of which was from UKIB (UK Infrastructure Bank, which was renamed the National Wealth Fund (NWF) in October). This is the Labour government's interpretation of a national wealth fund; rather different to, for example, the Norwegian one in that ours is funded entirely by debt.
IES changed its domicile from Jersey to the UK in January, presumably to make it easier to keep getting financial assistance from government agencies. To be fair, they also talk about certain investors only being able to invest in UK companies.
Seems to me like IES would be insolvent were it not for the UK government and Ed Miliband's net zero agenda; yet another jam tomorrow AIM outfit with a good idea but delusional about how much capital they require and far too optimistic about sales. As a result, having to constantly do capital raises and dilute existing shareholders.
However, government backing means that this might be worth a punt.