Stocks of the Hour: Altech Chemicals, IVE Group, BluGlass

Altech Chemicals (ASX:ATC) today announced that it has executed a Joint Venture Shareholders’ Agreement with world-leading German battery institute Fraunhofer IKTS to commercialise IKTS’ revolutionary CERENERGY Sodium Alumina Solid State Battery. Altech, inclusive of associated entity Altech Advanced Materials AG, will be the majority owner at 75% of the JV company, which will commercialise a 100 MWh project to be constructed on Altech’s land in Germany. Shares are trading 25 per cent higher at 10 cents.

IVE Group (ASX:IGL) today announced that it has completed the acquisition of substantially all of the printing and finishing assets of Ovato Limited for a net purchase consideration of $16m. The net purchase consideration was funded from existing facilities. Integration and associated capital expenditure costs of approximately $22m are expected to be incurred progressively over an 18-month integration period. Commenting on acquisition, IVE CEO Matt Aitken said: “IVE has a strong track record of successfully integrating businesses and optimising operating leverage to deliver synergies. When fully integrated, the Ovato acquisition is expected to generate meaningful shareholder value, and today results in IVE becoming the only large scale heat set web offset print producer in Australia." Shares are trading 8.8 per cent higher at $2.48.

Global semiconductor developer BluGlass (ASX:BLG) has joined the University of California, Santa Barbara’s Solid-State Lighting & Energy Electronics Centre (SSLEEC) consortium. The SSLEEC is an invitation-only collaboration between industry leaders and the University of California, Santa Barbara’s gallium nitride researchers, including blue-LED inventor and Nobel Laureate, Professor Shuji Nakamura, and industry luminary Professor Steven DenBaars. The consortium focuses on the development of new semiconductor technologies for energy-efficient lighting, disinfection, advanced mobile displays, augmented and virtual reality, communication, and power electronics. It is one of the most successful business models between universities and industry partners in the sector, producing more than 150 patents over the past six years. Consortium membership provides BluGlass with access to UCSB’s world-class faculty, facilities, and specialist GaN researchers, which will be invaluable in accelerating product development roadmaps for its novel blue and green laser diodes. Professor Shuji Nakamura said: “We are thrilled to be working with BluGlass, the world leader in RPCVD technology. I believe that RPCVD technology has huge advantages for the next generation of GaN advanced semiconductor devices.” Shares are trading flat at 3 cents.
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Source: Finance News Network