Helius Energy 2007's best performing cleantech new issue

More than 25 clean technology companies were listed on AIM and the main market of the London Stock Exchange during 2007. The largest of the new arrivals was wind turbine gearbox manufacturer, Hansen Transmissions, which also ranked as the second best performing new issue. Topping the list in terms of share price performance was Helius Energy, with a gain of 132%. The worst performing stock was Vectrix Corporation, whose shares have suffered a 78% decline since they were listed in May.  

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Risers

Hansen Transmissions, a Belgian company which is owned by India’s Suzlon Energy, was valued at £1.14 billion at the 175p issue price when it arrived on the LSE in early December. Its shares have performed strongly since then, closing the month (and the year) with a gain of 65% to value the company at almost £2 billion.

Other notable main market listings included multicrystalline silicon ingot and wafer manufacturer, PV Crystalox Solar, and residential energy efficiency provider, eaga. These two were valued respectively at £542 million and £453 million when they were listed in June. PV Crystalox Solar shares have subsequently gained 16%, whilst eaga shares have slipped back by 7%.  

Investment fund Leaf Clean Energy achieved one of the largest fund raisings on AIM during 2007, raising £200 million at 100p per share in July. Leaf Clean Energy shares closed the year with a 6.5% gain.

At the other end of the scale, the funds raised by Helius Energy when its shares were listed in January amounted to just £2 million. However, the shares proceeded to chalk up the best price performance from amongst all of the 2007 new arrivals, with a gain of 131.7% on the 26p issue price. Helius, which installs and operates biomass fired electricity generation plants, was valued at £18 million on listing in January 2007 and closed the year with a valuation of more than £42 million.

Fallers

US based electric scooter manufacturer, Vectrix Corporation, was valued at £134.9 million at its listing in May. Its shares have subsequently fallen by 78% to close the year worth less than £30 million, making Vectrix the worst performer from amongst this year’s clean technology new arrivals.

Shares in Chinese solar cell manufacturer, Jetion Holdings, have lost 37% of their value since they were admitted to AIM in July. Jetion raised £30.5 million at a price of 151p. The share price ended the year at 95.25p.

Alkaline fuel cell manufacturer, AFC Energy, saw its shares listed on AIM in April. They have since fallen by 36% from the issue price, reducing the valuation to £13 million from £20 million at the time of the listing.