Microfuze International 2007's best performing UK Quoted cleantech stock 

Microfuze International, which was featured in the AIM Investor column (by Andrew Hore) in Cleantech magazine last year, was the best performing UK quoted clean technology stock in 2007 with a gain of 226%. The second best performer was Qonnectis, with a share price rise of 203%. Qonnectis is active in the 'smart metering' sector, subject of a feature in issue 3 of Cleantech magazine.

 First published on the Cleantech Investor website, January 2008. ©  Cleantech Investor Ltd.

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Andrew Hore’s AIM Investor column in Cleantech magazine also featured another of the stocks ranking amongst the top ten performers in 2007: Zenergy Power shares gained 148% during the year, placing it in sixth position of the stocks in our universe. Zenergy Power, which develops and manufactures superconductive wire, was featured in the AIM Investor column in the launch issue of Cleantech magazine (published in July 2007), at a price of 205p. The price has risen by 54% since then.

The second best performer amongst the stocks in our universe was Qonnectis, with a share price rise of 203% over the year. Qonnectis is active in the field of ‘smart metering’, a sub sector which we covered in a feature in issue 3 of Cleantech magazine. Qonnectis shares have gained 144% since the feature was published. Another company included in the smart metering feature, Energy Asset Management, also ranked amongst the top ten performers last year. Energy Asset Management shares chalked up a gain of 117% over the twelve months.

The third best performing stock from our universe was Solar Integrated Technologies, with a gain of 170% over the year – although at 100p its share price is still well below its historic highs of more than £3.50 during 2006. Elsewhere in the solar sector, Romag was a strong performer, gaining 99%, and ranking as number ten. ReneSola – one of the stars of 2006 – chalked up more modest gains in 2007, closing the year 16% ahead.

We published a supplement to Cleantech magazine, UK Quoted Clean Motoring, in July 2007. A number of ‘clean motoring’ stocks feature amongst the top ten, including Clean Diesel Technology (up 153%) and electric van manufacturer Tanfield (up 150%). Axeon Holdings was also a strong performer, gaining 81%. Johnson Matthey, the blue chip amongst the ‘clean motoring’ catalyst technology companies – and by far the largest UK quoted cleantech stock by market capitalisation – put up a healthy performance during 2007 with a gain of 33%. However, another company on the ‘clean motoring’ list, Oxonica, saw an 82% fall in value over the year. Oxonica’s main customer, Petrol Ofisi, cancelled its contract for the company’s technology, the Envirox fuel borne catalyst.

The worst performing stock over the year was AgCert, which lost over 99% in value over 2007. The company, which focuses on carbon offsets from the agriculture sector under the Clean Development Mechanism (CDM), confirmed in December that it may not be able to meet its financial commitments. Some of the other companies generating carbon offsets and trading carbon have suffered from delays in the CDM’s project cycle. Shares in EcoSecurities lost 32% while Camco International lost 18% over the year. Elsewhere in the carbon sector, however, Climate Exchange, which owns the ECX and CCX carbon trading exchanges, was a notable outperformer, marking up a gain of 94% over 2007.

The fuel cell sector suffered from the difficult conditions in the broader stock market. Credit squeeze conditions are hardly conducive to pre-revenue companies and most of the fuel cell companies ended the year with share prices below the levels of the end of 2006. CMR Fuel Cells was the worst performer, its shares losing 74%. Polyfuel and Acta shares both fell by 51% over 2007 and Ceramic Fuel Cells lost 48%. Bucking the trend, however, was Ceres Power Holdings. Ceres, which has successfully demonstrated a fuel cell powered micro CHP boiler, saw a 41% gain in its shares over the year.

It was a troubled year for the biofuel sector. Biofuels Corporation shares were delisted during 2007 after the company suffered financial difficulties. Shares in China Biodiesel International lost 75%. Amongst the US ethanol players, GTL Resources shares lost 54% while Renova Energy shares were suspended towards the end of the year. Shares in both of the listed Brazilian ethanol companies, Clean Energy Brazil and Infinity Bioenergy, ended the year lower – although they outperformed the US ethanol companies. Clean Energy Brazil shares lost 12% while Infinity Bioenergy shares lost 13%. Shares in Jatrapha based biodiesel manufacturer, D1 Oils, lost 20% in value, despite a landmark investment by BP during the year. In contrast, palm oil plantation companies were strong performers. Shares in Anglo Eastern Plantations gained 43% while MP Evans Group shares saw a gain of 30%.

Amongst the alternative energy companies, Clipper Windpower shares added to their strong 2006 performance with a gain of 20% during 2007. Wave technology company, Ocean Power Technologies, saw its shares, which were also listed on Nasdaq during the year, lose 8% in value.