Pressure Technologies business lands contract for hydrogen hub
Pressure Technologies PLC (AIM:PRES) shares traded higher in Wednesday morning’s deals as a subsidiary won a contract to supply BP’s Aberdeen Hydrogen Hub.
The Chesterfield Special Cylinders (CSC) subsidiary will supply pressurised hydrogen storage systems to Hydrasun Limited, a contractor on the project, for delivery in early 2026.
It’s the first deal of its type for CSC, and, Pressure Technologies chief executive Chris Walters described it as “significant strategic milestone”.
Walters added: We are looking forward to the collaboration and continuing relationship with Hydrasun, where delivery of the Aberdeen Hydrogen Hub will enable us both to demonstrate our respective capabilities and help progress our ambitious plans in this quickly developing market.”
In London, the shares are up 12.3% changing hands at 36.49p.
Majestic Corporation Plc (AQSE:MCJ) has posted a 66.7% jump in revenue, as booming demand for recycled metals pushed the group well ahead of expectations for 2024.
The London-listed firm, which specialises in recovering precious and non-ferrous metals from industrial waste, reported unaudited sales of $49 million for the year to December, up from $29.4 million in 2023.
Volumes also climbed sharply, with 43,000 tonnes of recyclable materials processed – up 43% on the previous year.
Chief executive Peter Lai said the company’s expansion had opened the door to new markets and more players in the recycling supply chain.
He said,
The hard work of our team has driven significant growth in our topline performance which in turn we anticipate to positively impact our bottom line,
Majestic, which operates in the sustainable circular economy, said it was now looking for larger facilities in the UK to support continued growth in 2025. It expects to report audited results by the end of May.
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Pressure Technologies business lands contract for hydrogen hub, source
