Just a quick intro here - will try and post more info when I have a bit more time.

According to recent news AXE is in position to expect a large influx of business for its Li-On (environmentally friendly, low emissions vehicle battery technology. I won't waffle on right now, but rather let the recent Trading Update do the talking - see below.

IMO this could do well in 2007 and beyond, but PDYOR. Have bought today.





Axeon Holdings Plc - Trading Update
RNS Number:6416M
Axeon Holdings Plc
24 November 2006


24 November 2006
Axeon Holdings plc ('AXE')

SIGNIFICANT ORDER AND 2006 TRADING UPDATE

Axeon Holdings plc ('Axeon', 'the Group' or 'the Company') is pleased to
announce the first commercial order from Modec Limited ('Modec') worth around
1.3 million, the successful initial trials of its new Li-ion battery technology
and a trading update prior to the end of the financial year.


1.3 million Battery pack order

Axeon is pleased to announce that it has received an order worth 1.3 million
for the first 50 battery packs from Modec for the launch of their new zero
emissions urban delivery vehicle. This order follows on from the prior
announcement of Heads of Agreement where Modec selected Axeon as its exclusive
supplier of battery packs. As planned these initial packs will use sodium
nickel chloride cells with a small number delivered before the end of 2006 and
the balance delivered before the end of the first quarter of 2007.


Modec's production vehicle launch is planned for March 2007 and they have
indicated a production capacity of up to 700 vehicles during the first year.


Successful initial trials of Li-ion battery

Axeon has also been contracted by Modec to develop a Lithium-ion (Li-ion)
battery system solution. The Company can now announce the successful initial
trials of the Li-ion battery system with a Modec vehicle as planned. The
initial trials showed a range of 65 miles at a speed of 50 mph with a one tonne
vehicle payload against the requirement for a 50 mile range. Evaluation will
continue during the rest of 2006 with the system planned to be production ready
towards the end of the second quarter of 2007.


Li-ion battery chemistry provides approximately four times the energy density of
traditional lead acid batteries and approximately two times that of nickel metal
hydride based alternatives. This allows lighter, smaller batteries with
increased vehicle range and can now be supplied at price competitive levels.
The challenges have been to build a system that is durable and reliable for
automotive purposes. The application of Axeon's Vindax technology to the
battery management electronics has been an important enabling factor.


Trading Update

The 2006 Interim Results statement noted that some customers in the handheld
devices segment were forecasting reduced volumes during the second half of 2006
such that revenue growth would be slower than previously thought through
deferment of programmes into 2007. The Company also noted that while revenue was
growing rapidly, the rate of revenue growth in 2007 was dependent on a number of
factors including, significantly, the timing and rate of build up of Modec
production.


The board can now confirm that 2006 revenue will be lower than originally
anticipated and will be in the range of 2.8 - 3.0 million. This will still
represent a fourteen fold increase over 2005. Based on orders on hand and the
board's conservative estimate of customer orders expected in 2007, the board
believes that 2007 revenue will exceed twice that of 2006.


The board believes that the general concerns on climate change (illustrated for
instance by the recent Stern Report) are creating favourable economic and public
policy conditions for the more rapid adoption of electric vehicles (EVs), hybrid
electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEV's). These
vehicles have the potential to reduce automotive carbon dioxide emissions by
80%. The Company has a number of li-ion battery based development programmes
with vehicle manufacturers under evaluation that are expected to come to
fruition during 2007. Crucial to all these developments is the ability to
design and build large high voltage Li-ion battery packs that are durable enough
for automotive purposes. The board believes that the Vindax intellectual
property of Axeon Technologies provides a source of competitive advantage in
this area. With that in mind, the board is re-focusing the Axeon Technologies
division. Existing programmes with European manufacturers based around internal
combustion engine control and diagnostics will continue to be supported but new
programmes will focus on the expanding opportunity for Vindax based Li-ion
battery management electronics. Minor restructuring costs of around 85,000
will be incurred before the end of 2006 to enable this change.


During 2005 and 2006 Axeon has developed enabling Li-ion battery pack
electronics and demonstrated product capability for a range of battery voltages
and vehicle ranges. These include the Modec urban delivery vehicle, a light
utility vehicle, and an electric greens mower. The Board is evaluating how to
translate this success in the UK into the European and US market places.


Commenting on Announcement Hamish Grant, Chief Executive Officer of Axeon said:

'Receiving the first orders for production batteries from Modec is an important
milestone for the Company. The successful initial trials of the Li-ion
prototype battery is more significant as it demonstrates the working capability
of battery and battery management electronics developed over the last two years.


We believe this package of demonstrable capability positions us to take
advantage of the growing interest in electric, hybrid and plug-in hybrid
vehicles. The recent Stern report on climate change has illustrated the urgent
need to reduce automotive carbon dioxide emissions. We believe that
combinations of consumer pressure and Government actions will accelerate the
adoption of these solutions over the next few years. For instance studies in
Japan and the US have shown that plug-in hybrid electric vehicles can reduce
vehicle carbon dioxide emissions by 80%. Our Li-ion battery technology can in
the near term enable these vehicles to work and reduce the overall cost of
vehicle ownership compared to the equivalent petrol or diesel engine vehicle.


'Our products continue to prove that innovation can produce effective ways of
reducing automotive emissions and increase energy efficiency through the
deployment of advanced Vindax control and battery technology.'


Enquiries


Axeon Holdings plc www.axeon.com
Hamish Grant, CEO Tel: +44 (0) 1224 338383
David Campbell, CFO Tel: +44 (0) 1224 338383

Gavin Anderson & Company
Ken Cronin / Robert Speed Tel: +44 (0) 20 7554 1400


This information is provided by RNS
The company news service from the London Stock Exchange
END


For information about Modec:

http://www.modec.co.uk

Modec news article

New Electric Vans To Deliver Tesco Goods.


Tesco home shoppers can expect deliveries by a new concept electric vehicle van next year after the chain bought 15 of the environmentally friendly vehicles for its dot com service.

The vans do not emit CO2 and are powered by a battery that can cover over 100 miles on a single charge. UK manufacturer Modec, which will supply the vans, said it had interest from other food companies and delivery firms, particularly in London and the south east, because the vans don't need road tax or an MOT and are exempt from congestion charges as well as most parking restrictions.

"We've had hundreds of inquiries as people can see the benefits," said sales and marketing manager Geoff Reyner. "They can be refrigerated and with a top speed of 50mph, it's fast enough to make deliveries on time."

Tesco, which will start using the vans in the spring, said it would order more if trials proved successful. "They are very quiet - ideal for deliveries in residential areas," a spokeswoman said. (Autumn 2006)

Mmmmm

It's the idea that Modec could produce 700 vehicles a year, beginning Mar 2007, that gets me.

Price slightly off today: AXE Bid: 41p Offer: 45p Change: -1.5

Header edited to include article about Modec vehicles.

RNS from 30th Jan:

Axeon Holdings Plc - Holding(s) in Company
RNS Number:3945Q
Axeon Holdings Plc
30 January 2007


30 January 2007


Axeon Holdings plc


Axeon Holdings plc ('the Company') announces that it has received notification
from AXA Investment Managers UK Limited, that AXA S.A. and its group companies
have a revised interest in 3,044,472 Ordinary Shares of 5p each in the Company,
representing approximately 12.38% of the issued share capital.


These shares are represented by a beneficial interest of 1,044,482 shares
(approximately 4.25% of the issued ordinary share capital) and a non-beneficial
interest of 1,999,990 shares (approximately 8.13% of the issued ordinary share
capital).


The identity of each registered holder of the shares to which this notice
relates, so far as is known to AXA Investment Managers UK Limited, as at 19
January 2007, is as noted below:


Name of Company / Fund No of Shares Percentage of issued share capital


Sun Life Pensions Management Ltd 10,000 0.04
(Beneficial)


AXA Framlington
Framlington AIM VCT1 862,068 3.51
(Beneficial)


AXA Framlington
Framlington AIM VCT2 172,414 0.70
(Beneficial)


AXA Framlington
SEI UK Equity 399,990 1.63
(Non-beneficial)


AXA Framlington
UK Smaller Companies 1,600,000 6.51
(Non-beneficial)


Total 3,044,472 12.38%


End

RNS from 22nd Jan:

Axeon Holdings Plc - Development Contract
RNS Number:9307P
Axeon Holdings Plc
22 January 2007

22 January 2007


Axeon Holdings plc


Axeon wins first hybrid electric vehicle battery pack development contract


Axeon Holdings plc announces today it has won its first contract to develop a
lithium-ion (Li-ion) battery pack for a hybrid electric vehicle (HEV) programme.


The contract is to develop a 2KW Li-ion battery pack for a major European heavy
duty vehicle machinery manufacturer. Two prototype packs are planned to be
delivered during the early part of Q2 for customer evaluation and demonstration.


The heavy duty vehicle machinery sector is forecast, by IDTechEx, to be worth in
excess of $2.1 billion by 2010 to the hybrid market.


During 2006 Axeon successfully built its capability and customer pipeline in the
field of electric vehicle (EV) Li-ion battery packs and battery management
systems (BMS's). The programmes announced last year are moving into volume
production during 2007 demonstrating to customers that Li-ion cell technology is
now production ready and has both price and performance advantages over
competing cell chemistries.


Hamish Grant, Axeon CEO commented 'This contract win is an important step
forward for the Company. The requirements of HEV battery packs are quite
distinct from those of pure EV's. EV battery packs are designed with a high
storage capacity relative to current flow (charge/discharge rate). HEV battery
packs are designed and configured the other way round with a small storage
capacity relative to current flow. This makes the requirements of cells within
the battery and the battery management electronics materially different.


'We have also been investing heavily in developing the cell supplier
relationships and technical skills to be able to provide HEV Li-ion cell and BMS
battery pack capability. This development contract award is the first
recognition of that effort. The general concerns over global warming are
resulting in an increasing number of vehicle manufacturers evaluating HEV and EV
alternatives. We expect the number of opportunities and prototyping programmes
to expand during 2007.'

Trading statement out today:


Axeon Holdings Plc - Trading Update
RNS Number:9676Q
Axeon Holdings Plc
08 February 2007

8 February 2007


Axeon Holdings plc ('AXE')

2007 SIGNIFICANT CONTRACT WIN AND 2006 UPDATE

Axeon Holdings plc ('Axeon', or 'the Company') announces that its 2006 operating
result is in line with the board's expectations and has secured an additional
significant order for its small battery business.

Progress in small battery business

In the update of November 2006 we were able to announce the order worth 1.3
million for the first 50 battery packs for the Modec urban electric delivery
van. On 22 January 2007 we were able to announce the strategically important
order for a high power hybrid electric vehicle power pack. We are now pleased
to be able to announce a significant order for the small battery business.

This order is worth 300,000 for the design and supply of an initial production
quantity of rechargeable battery packs for a bath lift disability product.
Axeon is providing a turn-key design and manufacturing service to the customer,
Care Knight. The product has to operate in a safe, reliable manner in a humid
bathroom environment and Axeon is delighted that Care Knight should select it as
its design and manufacturing partner.

The product demonstrates that the new generation of powerful, reliable, light,
Lithium-ion cell technology is enabling new products and new markets. The
battery management system has been developed to address specific safety issues.

2006 Update

Turnover for the year to 31 December 2006 was approximately 2.5 million. This
represents more than a ten fold increase in turnover compared to the 2005
financial year and demonstrates the very significant progress of the business.
The operating result for the year is in line with the board's expectation at the
time of the November trading update. The preliminary announcement of the audited
results for the 2006 financial year will be made at the end of March.

Commenting on the announcement Hamish Grant, Chief Executive Officer of Axeon
said:

'During the last three months the Company has won significant orders across all
areas of its activity. We are particularly pleased that customers have
confidence in both our design and manufacturing capability. Our ability to
source leading edge Li-ion cell technology coupled with our advanced battery
electronics is enabling new products for new markets. The Board remains
committed to investing in product led research and development to expand
opportunities in other markets.

'We expect to be able to make further announcements on significant contract wins
during the coming months.'

AXE Bid: 45p Offer: 52p Change: 5.5

Looks good - I like the sound of more contract wins in the near future.

EDIT: on a top-of-my-head calculation, I think this co could easily break even or go profitable in the financial year Jan-Dec 2007. They seem to have a good ratio of gross margins and low expenses, plus a respectable net credit cash position. Much will depend on forthcoming orders, in particular whether Modec is able to sell any electric vehicles. However, the other divisions seem to be picking up business too, so this augurs well.

All IMHO, PDYOR etc.

Hi soul traders,

I have had a look at this one and it seems interesting I have added to the watch list! I have another one which I'm seriously considering (ORPK) was wondering if you get the opportunity to have a wee look and submit your well respected view?

Rgds,

Iankn73

Hi soul traders,

I spotted this article in the (TAN) forum regarding a company specialising on improving mobile battery technology by repacing the lithium or li-ion as its otherwise known which Axeon produces and may potentially have a longer term significance e.g. transferable technology to car batteries. Here is a copy of the article epic (CMF) if you havent already read:

CMR, a Cambridge based company which demonstrated the world's first 'compact mixed-reactant' DMFC
stack with power density of 200W/l in May 2005. At the London Grove Fuel Cell Symposium, in October, the
next stage of development was shown with higher volumetric power density. In the same month CMR
commenced work on an evaluation mobile phone DMFC stack with a major consumer electronics OEM.
New investors may have to wait till mid 2007 before the mass industrial promise begins to look credible, but
the company hopes to be displaying more advanced working devices and to be in mass production by end
2007. With traditional battery technology almost at a dead end, there is unsatisfied consumer and military
demand for more mobile power. CMR aims to produce higher power from packs of reduced size, weight and
cost, and thus to replace, lithium batteries to drive portable gear - chiefly lap tops, music players, portable
games players, mobile phones, cameras, and power tools.

The volume/output ratio of CMR's fuel cells is already far superior to existing batteries. Prices need to come
down, but volume production is expected to reduce them to an attractive level. Already there is improved
functionality over traditional batteries.

This one will certainly be added to the watch list.

Rgds,

Iankn73

Great stuff, Ian, thanks! And welcome aboard - it's nice to have somebody to talk to here :o)

Will have a look into it asap (am having a very busy time right now as I am in the process of moving from Germany to England!).

Great to see AXE's progress today.

AXE Bid: 60p Offer: 62p Change: 12.5 3.7 million shares traded.

Great article about Modec and Axeon on FT.com:

HERE

Here are the juicy bits of the article:

* Tesco will take 15 of the first vans to be built (we knew that already!!) and if they prove satisfactory the supermarket chains next order will be for 200.

**** That's potentially 4 million in sales for Axeon at 20,000 per battery unit.

* Modec is hoping to build 2,500 vehicles next year - which will see Axeon's revenues soar. (That would mean 50 million in revenues for AXE - if they take home a net profit of 5 mil, the co could be worth 70 mil at PE 14 which would make it a 4.6-bagger from current SP of 61p - that's 280p a share!)

* Modec's owner is also considering floating the company next year, whcih would presumably raise funds for capacity expansion.

I think these are up for a good rise tommorrow.... watch the trades

Clearly there's nothing wrong with your crystal ball, Tonk: AXE Bid: 72p Offer: 75p Change: 12.5 (high so far today was 84p, not far off the all-time high of 86)

but only about 52k traded today, according to FT.com. (In contrast to 3 million on Friday). Goes to show how illiquid this one is.

Still, it's a nice splash of green on the portfolio, and one that will hopefully continue to grow.

PDYOR, etc.

Axeon Holdings Plc - Modec Press Launch

RNS Number:5725S
Axeon Holdings Plc
08 March 2007


8 March 2007

Axeon Holdings plc ('AXE')

CREATING VALUE THROUGH GREEN ENERGY SOLUTIONS

Modec Press Launch


Axeon Holdings plc ('Axeon', or 'the Group'), the specialist provider of
advanced battery and battery management systems to the automotive and industrial
markets with the aim of reducing emissions, congratulates Modec on its press
launch today attended by The Rt. Hon. David Cameron MP for its new urban
delivery vehicle.


The Modec vehicle has a range of over 100 miles between charges, a capability of
carrying 2 tonnes and will deliver class leading performance and economy
combined with zero tailpipe emissions and extremely quiet operation.


In April 2006, Axeon announced it had signed heads of terms to become the
exclusive supplier of battery management systems and battery cassettes for
Modec's new vehicle.


Initially Axeon will supply battery cassettes using Sodium Nickel Chloride cells
and they are also developing a Lithium Ion ('Li-ion') alternative for
introduction later this year.


Both battery chemistries provides more than three times the energy density of
traditional lead acid batteries, enabling the Modec vehicles to operate at such
extensive intervals between charges.


Hamish Grant, Axeon CEO commented, 'I am delighted for Modec and congratulate
their founder Jamie Borwick and his team on achieving this milestone on time. I
am also heartened that blue chip companies such as Tesco have signed up to firm
orders; we look forward to an exciting and fruitful relationship.

Axeon Holdings Plc - Holding(s) in Company

RNS Number:6653S
Axeon Holdings Plc
09 March 2007


TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Identity of the issuer or the underlying issuer of existing Axeon Holdings plc
shares to which voting rights are attached(ii):

2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights ( )
An acquisition or disposal of financial instruments which may result in the acquisition of ( )
shares already issued to which voting rights are attached
An event changing the breakdown of voting rights ( )
Other (please specify):Disclosure required following implementation of DTR rules ( X )

3. Full name of person(s) subject to the notification Aberdeen Asset Management PLC's Fund
obligation(iii): Management Operating Subsidiaries

4. Full name of shareholder(s) (if different from 3.)(iv): N/A

5. Date of the transaction and date on which the threshold is N/A
crossed or reached(v):

6. Date on which issuer notified: 08/03/2007

7. Threshold(s) that is/are crossed or reached: N/A

8. Notified details:


A: Voting rights attached to shares
Class/type of Situation previous to Resulting situation after the triggering transaction(vii)
shares the Triggering
transaction (vi)
if possible Number of Number of Number of Number of voting rights % of voting rights
using the ISIN Shares Voting shares ix
CODE Rights
viii Direct Direct x Indirect xi Direct Indirect

GB00B08X3Q76 N/A N/A 0 0 1,973,976 0 8%


B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial Expiration date Exercise/ Conversion Number of voting rights % of voting
instrument xiii Period/ Date xiv that may be acquired if rights
the instrument is
exercised/ converted.


Total (A+B)
Number of voting rights % of voting rights
1,973,976 8%


9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively
held, if applicable xv:


Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:


13. Additional information:

14. Contact name: Robert Haggerty

15. Contact telephone number: 01224 425 266


--------------------------


This information is provided by RNS

A slight recovery after a couple of days of slippage. That's a bit of a nasty spread. though!

AXE Bid: 51p Offer: 58p Change: 1.5 Only 4,000 traded so far.

AXE Bid: 55p Offer: 60p Change: 4.5 now 269k traded.

Up this morning on good results and other news: AXE Bid: 55p Offer: 62p Change: 2

Axeon Holdings Plc - Final Results

RNS Number:7515T
Axeon Holdings Plc
27 March 2007


27 March 2007

Axeon Holdings plc ('AXE')

Preliminary Results for the year to
31 December 2006

CREATING VALUE THROUGH GREEN ENERGY SOLUTIONS


Axeon Holdings plc ('Axeon', or 'the Group'), a specialist provider of advanced
battery and battery management systems to the automotive and industrial markets
with the aim of reducing emissions, announces its results for the year to 31
December 2006.

Highlights

* 2006 revenue increased by 948% to 2,551,000

* 2006 loss after tax reduced by 27% to 864,000

* Acquisition of Advanced Batteries Limited (ABL) in March 2006 and placing
of 7.59 million shares to raise 4 million net of expenses

* Agreement in April 2006 to be exclusive supplier of battery packs and
charger systems to Modec Ltd for its electric urban delivery vehicles
followed by production orders and successful vehicle launch in March 2007

* Announcement today of programmes worth 1.15 million funded by the Energy
Savings Trust to develop next generation battery packs for an electric
version of the Daimler Chrysler SMART car and the Modec vehicle.


Hamish Grant, Chief Executive Officer of Axeon, said:

'2006 saw a period of material revenue growth coupled with increased investment
in R&D. The acquisition of ABL transformed the business to focus on delivery of
advanced battery and battery management systems for the rapidly expanding market
for electric (EV) and hybrid electric (HEV) vehicles. The Modec agreement sets
the foundations for further material growth over the next few years. We are
pleased that Modec have started production on schedule and that they have been
able to announce quality customers for their electric urban delivery vehicle
such as Tesco.'


All enquiries to:

Axeon Holdings plc
Hamish Grant CEO Tel: +44(0)1382 400040
David Campbell CFO Tel: +44(0)1382 400040

Gavin Anderson & Co
Ken Cronin / Robert Speed Tel: +44(0)20 7554 1400

Bell Lawrie
Ken Fleming Tel: +44 (0)141 221 7733


Chairman's Statement

I am pleased to present the preliminary results for the year to 31st December
2006. This second set of results since the company was quoted on AIM shows that
the business has made considerable progress from technology development to roll
out of products with initial customers.

Our advanced Lithium-ion (Li-ion) battery and proprietary Vindax technology
based battery management system (BMS) for EV and HEV applications are in high
demand. Of particular note is the Modec electric urban delivery vehicle
programme. Other programmes are following as illustrated today by the
announcement of the two programmes for the Energy Savings Trust.


Results

Turnover for the year to 31 December 2006 increased by 948% to 2,551,000 (2005:
243,000). Operating costs in the year increased to 2.7m (2005: 1.3m)
following the acquisition of ABL (since renamed Axeon Power). Of this
approximately 40% or 1 million (2005: 571,000) was invested in research and
development. At the same time as increasing investment in research and
development the post tax operating loss for the year has been reduced to
864,000 (2005: 1,183,000).


2006 Trading


Small and Medium Batteries

This segment covers devices for handheld and mobility products below 50Volts and
contributed 49% of turnover during 2006. There was some slow down in revenue
growth from this segment during the second half of 2006 as existing customer
product lines finished and new product launches were delayed into 2007.


Large Batteries

This segment covers devices for mobility products of 50Volts and above including
EV's and HEV's. The segment saw rapid progress of both product development and
customer opportunities.

Axeon has delivered 50V Li-ion solutions in two light utility EV's and two golf
course greens mower products. These prototypes are now under pre production
customer evaluation.

During the second half of the year we completed and demonstrated a 300V proof of
concept Li-ion battery pack for Modec. This followed a heads of agreement in
April making Axeon the exclusive supplier of battery packs and chargers for
Modec's electric urban delivery vehicle. In November we were able to announce
the first production purchase order under the agreement, worth 1.3 million
covering an initial supply of 50 battery packs. These packs utilise Sodium
Nickel Chloride technology. The Li-ion technology is planned to offer an
alternative to the Sodium Nickel Chloride technology in the second half of 2007.


Research and Development

The focus of research and development during the year was to continue the
implementation of Vindax in advanced Li-ion battery management systems and the
development of customer prototype and production battery packs. R&D investment
increased to approximately 1 million (2005: 571,000) for the year. We were
delighted to get patent approval during June in the US for the core Vindax
technology. This builds upon the approval we received in Europe during 2005 and
provides protection for our core technology in our major markets. During 2006
we also demonstrated a working BMS for EVs and laid the foundations for battery
management systems for HEVs and plug-in hybrids (PHEVs).


Management and Staff

On the acquisition of ABL, Mr. John Blinkhorne joined the board as an executive
director. At the AGM in June 2006 Mr. Martin Briant-Evans retired from the
board of Axeon and Mr. James Kenny joined as a non-executive director. The
acquisition of ABL increased the size of the team with a headcount at the end of
the year of 42.


2007 Trading Update

Since the end of 2006 a number of significant events have occurred:


* In January the Group won its first contract to develop a Li-ion battery
pack for a hybrid electric vehicle. The contract is for the development of
a 2kWh Li-ion battery pack for a major European heavy duty vehicle
machinery manufacturer to be delivered during the early part of Q2 for
customer evaluation and demonstration.

* In February the Group received an order worth 300,000 for the design and
supply of an initial production quantity of rechargeable battery packs for
a bath lift disability product. The product demonstrates that the new
generation of powerful, reliable, light, Li-ion cell technology is enabling
new products and new markets. It also demonstrates progress in the small
and medium battery business.

* We are pleased that Modec have started production on schedule in March and
that they have been able to announce quality customers for their electric
urban delivery vehicle such as Tesco, Accord, Hildon Water, Speedyhire and
local authorities. Modec have advised that they have over 140 firm orders
with a very strong pipeline of conditional orders and prospective
customers. The 100 mile range, 50 mph, 2 tonne payload electric delivery
vehicle is demonstrating the emissions free urban delivery is both
environmentally and economically beneficial. We are delivering battery
packs to Modec's production plan and scaling up our capability to meet
their demand.

* As announced today a programme valued at 1.15 million over two years
funded by the Energy Savings Trust to develop next generation battery packs
for an electric version of the Daimler Chrysler SMART car and the Modec
vehicle. These programmes will allow us to continue investment in battery
pack R&D and also demonstrate capability for the SMART car EV programme and
extended durability for the Modec urban delivery vehicle.


Strategy and Outlook

The recent Stern report on climate change has illustrated the urgent need to
reduce automotive carbon dioxide emissions. An 80% reduction in automotive
emissions translates to a 9% reduction in global annual CO2 emissions. Studies
in Japan and the US have shown that plug-in hybrid electric vehicles can reduce
carbon dioxide emissions by the target 80%. Our advanced Li-ion battery
technology can in the near term enable these vehicles to work in a practical
cost effective manner. While the initial vehicle cost will rise, this will be
offset by reduced fuel costs within three to five years.

We are already witnessing the first implementations for electric vehicles in
niche urban markets (such as Modec) and hybrid electric vehicles for the volume
vehicle market. Over the next ten years as the technology is proven we believe
that the volume vehicle market will move to plug-in hybrids.

The strategy of our business to take advantage of these trends is:

* Continued focus on our Vindax based battery management system to build
on our advantage in advanced Li-ion battery electronics;

* To maintain the small and medium battery pack business to generate
continuing revenue and positive cash flow;

* To develop the large battery pack business of to:

- deliver volume production of the Li-ion battery packs for Modec;

- build on the current opportunities in the electric and hybrid
electric space to expand production programmes;

- Develop plug-in hybrid expertise with selected partners; and

- Supply generic battery management systems to volume vehicle
manufacturers;

* To expand the geographic reach of the business into Europe and then the US.

I believe that having strengthened the balance sheet and enlarged the Group with
the acquisition of ABL that the Company is positioned to continue to deliver
significant growth in turnover and gross profit during the course of 2007. The
rate of roll out of the Modec electric urban delivery vehicle will have a
significant impact on the rate of build up of revenue during 2007 and 2008. We
are excited about the quality and potential of this programme and look forward
to securing and announcing additional programmes in the coming months.


Charles Matthews
Chairman

Axeon Holdings Plc - Electric Vehicle Programmes

RNS Number:7589T
Axeon Holdings Plc
27 March 2007


Axeon Holdings plc ('AXE')
Electric City Car and Urban Delivery Vehicle Programmes
CREATING VALUE THROUGH GREEN ENERGY SOLUTIONS


Axeon Holdings plc ('Axeon', or 'the Group'), the specialist provider of
advanced battery and battery management systems to the automotive and industrial
markets with the aim of reducing emissions, announces today two electric vehicle
programmes valued at 1.15 million.

The programmes are funded by the Energy Savings Trust and are to develop and
implement next generation Lithium-ion based battery packs for an electric
version of the Daimler Chrysler SMART car, and a long range pack for the Modec
Ltd urban delivery vehicle. The programmes will start immediately and run in
parallel for the next two years. The programme is worth up to 470,000 to Axeon
over the two year period depending on the achievement of certain milestones.

The aim of the work is to demonstrate the successful implementation of Li-ion
phosphate cell chemistry. This type of battery chemistry is cheaper, inherently
safer and offers a more than three fold increase in battery life compared to
current Li-ion cell chemistry. This promises to significantly reduce the cost
of ownership of an electric vehicle compared to a petrol or diesel engine
vehicle.

The SMART car will be fitted with a 22kWh energy battery, delivering peak power
of 40kW, enabling a range of around 150km, a top speed of 120kmh and
acceleration of 0 - 80kmh in 12 seconds.

The long range Modec urban delivery vehicle will be fitted with a 60kWh energy
battery, delivering peak power of 80kW extending the battery range from 100km to
250km and giving 0 - 80kmh acceleration in 18 seconds.

Hamish Grant, Axeon CEO commented, 'The award of these programmes demonstrates
our commitment to staying at the front of battery pack technology and the
confidence of our customers that we can design, develop and manufacture large
complex automotive class products.

'While others talk about the need to reduce automotive emissions we and our
customers are demonstrating that it is possible to make zero emissions vehicles
that are practical, fun to drive and economically attractive when compared to
petrol or diesel engine vehicles.'

Axeon FY pretax loss narrows on 948 pct sales jump, sees 'significant' 07 growth
LONDON (AFX) - Axeon Holdings PLC posted a marginally narrower full-year pretax loss on a 948 pct sales jump, and said it is positioned to continue to deliver 'significant' turnover and profit growth during 2007.

It also said it has won a contract worth up to 470,000 stg as part of a 1.15 mln stg programme to supply batteries for an electric version of the Daimler Chrysler SMART Car and a new vehicle by Modec Ltd.

Axeon, which bought Advanced Batteries Ltd in March 2006, reported a pretax loss of 1.06 mln stg for the year ended Dec 31 compared with a loss of 1.33 mln stg a year earlier, as sales rose to 2.55 mln stg from 243,324 stg.

Encouraging results, good newsflow and plenty of good prospects for the future mean that I'm happy to be in this one for the time being. The company has a good cash position too.

Mkt cap is equivalent to approx 4 times NAV, so I wouldn't want to pay too much more than the current SP of 62p for the shares, but anyone who does is buying a growth story with what appear to me to be decent prospects.

All IMHO, PDYOR, etc.

PS it should be noted that AXE's current main customer, Modec, has big plans for increasing its output of vehicles, having launched its electric vehicles only recently. So the potential is there for AXE to see more significant upturns in revenue over the current year.

News release from the Modec site, from last month:

Modec starts production of zero emission LCV

Pioneering zero emission vehicle manufacturer Modec officially opened its factory doors yesterday (8th March) with The Rt. Hon. David Cameron MP joining customers, suppliers and staff to launch its new production plant based in Binley, Coventry.

The battery powered Modec vehicle provides the worlds first high performance, emission free alternative to traditional diesel delivery fleets and has been heralded as the future of urban commercial transport. Quiet, efficient and with the added advantage of zero tax and zero congestion charge, the vehicle has already attracted orders from Tesco, Hildon Water, Islington Borough Council and dozens of other organisations keen to improve their fleet environmental credentials. Around 500 Modec vehicles are expected to be produced in the first year.

EDIT: The Axeon batteries cost 20,000 each and are provided to the purchasers of the vehicles on a rental basis. 500 batteries would mean a turnover of 10 million for AXE. (comparison: AXE sold its first lot of 50 batteries for 1.3 million, or 26,000 each).


full article available at: http://www.modec.co.uk/new5.html

Axe probably need to do about 10 mil of turnover in order to start making a profit. Gross profit margins seem decent, though, at around 64%.

EDIT (17May2006) Based on figures published this week, it looks as if 5 million turnover will suffice to see the co make a small initial profit. See below.

RNS out today:

Axeon Holdings Plc - Trading Update/AGM Statement

RNS Number:5700W
Axeon Holdings Plc
15 May 2007


Axeon Holdings plc ('AXE')

Trading Update and AGM on 15th May

CREATING VALUE THROUGH GREEN ENERGY SOLUTIONS


Axeon Holdings plc ('Axeon', or 'the Company'), a specialist provider of
advanced battery and battery management systems to the automotive and industrial
markets with the aim of reducing emissions, is pleased to provide a trading
update, prior to its AGM today.


The Company has traded in line with the Board expectations for the first four
months of the financial year. The Board's full year revenue expectations have
increased in line with more visible progress for battery packs for the Modec
electric urban delivery vehicle. Modec have advised that their order book has
increased to over 160 units and the Board now believe that production will
increase from 155 to 175 units in 2007.


The iconic 100mile range electric urban delivery vehicle is being very well
received in the market place and on the 17th May Axeon and Modec will be
demonstrating the vehicle in the City of London to shareholders and other
interested parties.


The Company is pleased to note that Deutz AG successfully demonstrated its
diesel hybrid electric powertrain in an Atlas wheel loader at the Bauma trade
fair in Germany at the end of April. The powerpack for this vehicle included a
prototype battery pack designed and delivered by Axeon within a twelve week
period. This demonstrated Axeon's ability to supply hybrid electric vehicle
Lithium-ion battery packs and within very tight customer timescales.


The Company is seeing increasing enquiries for electric and hybrid electric
vehicle Lithium-ion battery packs from within the UK and elsewhere in Europe.
In response to this potential demand the company is increasing investment though
employment of more people in its sales and engineering teams.


Commenting on the update the Chairman of Axeon Holdings plc, Charles Matthews
said:


'The Modec electric urban delivery vehicle production is ramping up. We
understand that Modec have a plan to make around 300 vehicles this year. By the
end of June we anticipate having delivered on schedule around 60 battery units
and have the capacity to deliver to their plan. The difference between their
plan of 300 units and our increased expectation of 175 units reflects
uncertainty over how quickly overall vehicle production can be increased. We
will update the market again as progress is made through the year'

Up again today: AXE Bid: 61p Offer: 67p Change: 2.5

Slow progress is better than no progress. 194K traded

AXE Bid: 63p Offer: 70p Change: 2.5 14K traded.

The company looks to be in good shape for the coming year. T/O could be around 5 million, based on figures given by the company for its various contracts and trials (including estimated 175 orders from Modec). T/O of 5 mil could be enough to see the co break even.

Creditors are more or less covered by debtors, net cash then results to about 1.5 million. On an alternative view, the co has enough cash to see it through almost one more years of the same net losses if one looks at the cashflow rec. The increasing orders from Modec, plus trials from other potential customers, however, indicate that Axeon won't have to burn all of this money simply in order to stand still.

All IMO, PDYOR, etc.

Up again: AXE Bid: 67p Offer: 73p Change: 3.5, still on piddly volume.

Somebod ought to tell the MM's that that spread is no joke . . . .

But that didn't prevent a stunning rise at the close: AXE Bid: 73p Offer: 80p Change: 10

Here are the broker estimates for Axeon:

Detailed Broker Forecasts
2007 2008
Broker Date Rec Pre-tax (?) EPS(p) DPS(p) Pre-tax(?) EPS(p) DPS(p)
Bell Lawrie Whit... 27-03-07 BUY -0.42 -1.77 1.16 4.96
Dawnay Day Capit... [R] 09-02-07 BUY 0.91 1.97 2.09 4.51

That"s estimates of EPS for 2007 of -1.77p from BLW, and +1.97p from DDC.

For 2008: BLW 4.96p, DDC 4.51p

Taking the average to be roughly 4.75p, the share is on a forward PE of 16.8 for 2008.

approx 57% of the stock is accounted for by major shareholders.

EDIT: this week's price action on very low volume suggests that the stock is not particuarly liquid.

Major Shareholders Shares in issue: 24.6m 5p Ords
Name Amount % Holding
AXA Investment Managers UK Ltd 3,044,472 12.38
4th Level Ventures 2,375,977 9.66
Hamish Grant 1,985,021 8.07
Hamish Alexander Francis 1,985,021 8.07
Aberdeen Asset Mgmt 1,973,976 8.03
Scottish Enterprises 1,785,711 7.26
John Boyle 858,775 3.49

Other Directors
Name Amount % Holding
Paul Johnston 77,534 0.315
Charles L Matthews 17,241 0.070
David Campbell 17,241 0.070
Lawrence Berns 8,623 0.035
= Director

IMO the broker estimating losses for the current year could prove to be too conservative, as my feeling is that around 0.4 - 0.5 million profits should be possible on estimated turnover for the current year, which would reflect that 1.97p EPS given by Dawnay Day and putting the share on a PE of 40.6 for the current year.

If AXE wins and fulfils more orders in 2007 than currently estimated then it should be good for some nice surprises.

Potential buyers may want to wait for a retrace, however.

From the trading update of Nov 2006:

Based on orders on hand and the board's conservative estimate of customer orders expected in 2007, the board believes that 2007 revenue will exceed twice that of 2006.

That takes care of that 5 million needed to break even, hopefully!

PDYOR.

RNS out yesterday:

Saracen Growth Fund announces major shareholding (which somehow avoided being mentioned on the list of major shareholders I posted a few days ago - and Saracen certainly did not buy 2 million shares over the market this week!):

Total (A+B)
Number of voting rights % of voting rights

2,625,862 10.68%



I assume that means they bought some, rather than selling!

Up 2p today, thin volume as ever.

AXE Bid: 77p Offer: 84p Change: 2

I'm pleasantly surprised that the rally still seems to have legs.

Up again this monring, admittedly on volume of only just over 1,000 shares!

AXE Bid: 80p Offer: 84p Change: 1

And the spread has narrowed! 4p much better than 7!

Hi ST, long time no chat. Just seen this thread, you have been lonely on here for the most part! Current SP now at previous high so may be some resistance, I would be looking for a fall back from here and may dip my toe in, certainly an encouraging story but highish PE in terms of immediate value. Have a good Bank Hols.

Hi Silvermede. Good to hear from you, and very nice to have you come and keep me company on this thread!

Yes, I agree that short-term this seems highly-valued. In the longer term, however, I think this could have the potential to go at least five- or maybe even ten-bagger, if Modec succeeds in producing its intended 2,000 vans per year and all of them contain an Axeon battery at 20K a pop.

And that's not counting the other products and applications, or other possible customers coming on board.

I wonder if the smart money is saying to itself that the current estimates of forthcoming trading are too conservative, however at the current trading volumes we are talking about only tiny quantities of smart money.

On the other hand, it may just be the dim money that doesn't know when to call it a day!

Happy to hang on to my small stake and watch. Will definitely consider adding if this appears to consolidate at an acceptable level or if I'm suddenly flush with ready cash.

Enjoy your weekend too.
ST

AXE Bid: 80p Offer: 87p Change: 2.5. Still only 7k traded. Mkt cap approx 22 mil.

Up approx 20% in the last few weeks. currently: AXE Bid: 88p Offer: 95p Change: 1

REcent RNS, 13th Jul:

Axeon Holdings Plc - Trading Update
RNS Number:1855A
Axeon Holdings Plc
13 July 2007


13 July 2007
Axeon Holdings plc ('AXE')

Trading Update

CREATING VALUE THROUGH GREEN ENERGY SOLUTIONS

Axeon Holdings plc ('Axeon', or 'the Company'), a specialist provider of
advanced battery and battery management systems to the automotive and industrial
markets with the aim of reducing emissions, is pleased to provide a trading
update.

The Modec electric urban delivery vehicle battery programme continues to go to
plan with production ramp-up of sodium nickel chloride battery packs and the
delivery of the first pre-production Li-ion battery pack. This event has
crystallised the first order for Li-ion battery packs worth 675,000 covering
the first two months of Li-ion battery pack production.

The Company has received an order from Veicoli to build a prototype Li-ion
battery pack for an electric taxi programme in Italy. This is Axeon's first
electric vehicle contract win in Europe and is the first tangible result of
investment this year in sales activity in Europe. The Company continues to see
rising sales opportunities in both the UK and Europe.

The Company has completed its battery management system development programme
with ITI-Energy. This programme, funded by ITI-Energy over the 2005-2007
period, has led to significant advances in the fundamentals of battery
management systems. Axeon and ITI-Energy have agreed an exploitation License
relating to certain aspects of the intellectual property developed under the
programme.

Commenting on the update the Chairman of Axeon Holdings plc, Charles Matthews
said:

'The Modec electric urban delivery vehicle production is ramping up as planned.
This programme will be the backbone of revenue growth over the next eighteen
months. It is very encouraging to see some of the sales potential we have
identified in Europe being converted into real business.'

Recent RNS, 13th Jul, #2:

Axeon Holdings Plc - Acquisition of Ristma
RNS Number:1849A
Axeon Holdings Plc
13 July 2007


13 July 2007

AXEON HOLDINGS PLC
ACQUISITION OF RISTMA


Axeon Holdings Plc ('Axeon', the 'Company' or the 'Group'), a specialist
provider of advanced battery and battery management systems primarily to the
automotive industry, announces that the Company has conditionally agreed to
purchase Ristma A.G. ('Ristma'), a Swiss battery pack manufacturer, primarily
for the handheld cordless power tool market.

The Company has entered into a share purchase agreement to acquire the entire
issued share capital of Ristma for a cash consideration of CHF 12.5million
(approximately 5.11 million) payable at completion and a deferred consideration
of up to CHF 5.5million (approximately 2.25 million) to be satisfied by the
issue of ordinary shares. The Company also announced that it has conditionally
placed with institutional and other investors, 7,846,250 new ordinary shares at
64p per ordinary share to raise approximately 5 million (before expenses) for
the Company. As part of the foregoing, certain directors have agreed to invest,
in aggregate, a total of approximately 60,000 to subscribe for a total of
94,000 new ordinary shares in the placing.

Axeon and Ristma (the 'Enlarged Group') operate in complementary segments of the
battery pack market. Axeon operates in the electric vehicle (EV) and hybrid
electric vehicle (HEV) market, which is adopting Li-ion battery pack technology
as its technology of choice. Ristma manufactures battery packs principally for
the handheld cordless power tools market, which is also moving to Li-ion battery
technology. Axeon's proven experience and skills in the design and manufacture
of Li-ion battery packs, combined with Ristma's expertise in providing batteries
for handheld cordless power tools, will help drive sales of the Group as these
markets move to higher performance Li-ion technology.

Axeon is seeing increasing enquiries for its battery packs from automotive
customers in the UK and mainland Europe. The Directors believe that Ristma has
the infrastructure which Axeon needs to be able to accelerate sales of its EV
and HEV products in mainland Europe. Ristma's established manufacturing facility
in Poland is of particular importance to Axeon as the Directors believe that it
provides a good location and workforce to supply European automotive customers
with EV and HEV battery packs.


Commenting on the deal, Hamish Grant, Axeon CEO, said:

'Ristma provides an exciting opportunity for Axeon. Ristma has supplied battery
packs to blue chip companies such as Bosch and Hilti for over 15 years, and we
have a leading position in the provision of battery packs to Modec and the
broader EV and HEV markets.

The combination of Axeon's skills in the design and manufacture of large Li-ion
battery packs with Ristma's volume manufacturing skill in medium Li-ion battery
packs will accelerate our roll out into continental Europe.'

IMO the TU looks very encouraging, as orders from the Modec business are clearly gathering pace.

Not surprising that the SP is on the up.

PDYOR

Axeon Holdings Plc - Trading Update
RNS Number:7784D
Axeon Holdings Plc
13 September 2007


13 September 2007


AXEON HOLDINGS PLC

Significant electric vehicle Li-ion battery production orders


Axeon Holdings plc ('Axeon'), a specialist provider of advanced battery and
battery management systems primarily to the automotive industry with the aim of
reducing emissions, is pleased to announce new orders worth 2.5 million for
Li-ion battery packs and chargers for the Modec electric zero emission urban
delivery vehicle.

These new orders are in addition to previously announced orders from Modec worth
3.1 million for development engineering, sodium nickel chloride packs and
initial launch quantities of Li-ion battery packs. The total order book for
production Li-ion for Modec is now 172 battery packs and 172 chargers.

The testing and validation of the production level prototype Li-ion battery pack
is nearing completion and initial production ramp-up is expected to commence
during October. Deliveries of the initial orders for Li-ion battery packs and
chargers are scheduled to take place during Q4 2007 and into Q1 2008. Further
orders are expected before the end of 2007 to allow fulfillment of 2008
production.

The initial Li-ion battery is rated at 51.2KW-hr and provides a range of up to
70 miles on a single charge for the Modec electric zero emissions urban delivery
vehicle travelling at its top speed of 50 mph. During initial testing and
evaluation, the Li-ion battery pack delivered approximately 15% more miles per
KW-hr than the sodium nickel chloride battery pack. As previously announced,
Axeon and Modec are also developing a higher capacity pack expected to deliver a
range of around 100 miles on a single charge. This 100mile battery pack is being
developed for a start of production during the first half of 2008.


Commenting on the new orders Hamish Grant CEO of Axeon said:


'The completion of Li-ion battery pack development and start of production
ramp-up represents a major milestone in the evolution of Axeon. We believe this
is the largest Li-ion electric vehicle battery pack to enter volume production
anywhere in the world and are delighted to have delivered it on schedule to such
a prestigious project as the Modec electric zero emission urban delivery
vehicle'


Bill Gillespie CEO of Modec said:


'The Axeon team has worked extremely hard to meet our needs. In addition to
meeting our volume requirements, we believe that the Li-ion battery pack will
provide our customers with additional battery reliability and durability,
tailored to their specific range requirements, further enhancing what we believe
to be a very strong customer proposition.'

SP climbing towards highs, decent spread too:

AXE Bid: 87p Offer: 90p Change: 1

PDYOR, etc.

Just spotted you, ST - good to see you back ;)

Hi Chocs! Thanks - Good to see you too.

I pop in from time to time... :o)

Are you in this one?

Axeon Holdings Plc - Increased orders etc
RNS Number:6898E
Axeon Holdings Plc
28 September 2007


28th September 2007
Axeon Holdings plc ('AXE')

Increased orders and new customer

Axeon Holdings plc ('Axeon'), the specialist provider of advanced battery and
battery management systems primarily for the reduction of vehicle emissions,
announces increased orders from key customer Modec and a new customer exclusive
agreement.


Earlier this month we were able to report significant new orders worth 2.5
million for the initial launch quantities of the second generation Li-ion
battery and charger systems for the Modec electric zero emission urban delivery
vehicle. These new orders were in addition to previously announced orders from
Modec worth 3.1 million for development engineering and first generation sodium
nickel chloride batteries. We were also able to confirm that initial production
ramp-up of Li-ion would start in October.


We have delivered 66 first generation systems to date and had planned to deliver
a total of 115 first generation systems and 60 second generation systems before
the year end, taking total deliveries to 175. However Modec have recently asked
us to plan on the basis of a more rapid switch from first to second generation
battery and charger systems this year. They have asked us to stop production of
first generation battery and charger systems and to accelerate production
ramp-up of second generation battery and charger systems to deliver 176 units
between now and the end of the year. This would take total deliveries for the
year to 242 battery and charger systems. Modec have confirmed a production plan
for 60 battery and charger systems a month during Q1 2008 rising to 90 battery
and charger systems a month during Q2 2008. Minimum annual volumes are targeted
at 1,000 battery and charger systems a year. We are organising our supply chain
to meet this demand.


We have also signed a strategically significant agreement with a continental
European bus manufacturer to become its exclusive supplier of Li-ion battery
pack and charger systems. The first phase of this project is to deliver proof of
concept systems before the end of the year with detailed development engineering
planned during 2008. The customer has already developed a large format EV bus
and is seeking a battery partner to provide a Li-ion solution to enable volume
production.


This programme is separate to the order from Veicoli announced in July to build
a prototype Li-ion battery for an electric taxi programme in Italy. This was
Axeon's first electric vehicle contract win in Europe and the first tangible
result of investment this year in sales activity in Europe. This initial
prototype has now been completed an is ready for test and evaluation. We look
forward to working with Veicoli during the remainder of 2007 and 2008 to help
them develop and test their systems and move to production.

Commenting on the announcement Hamish Grant, Chief Executive Officer of Axeon said:

'We have worked very hard to deliver to Modec a production ready Li-ion battery
and charger system for their zero emission electric urban delivery vehicle. We
are delighted that they are planning to accelerate production roll out. The
progress with Veicoli and in the bus manufacturing sector underlines the market
opportunity available in continental Europe and reinforces the strategic logic
of the Ristma AG acquisition completed in August.'

According to the interim results, the company is on track to deliver profits for FY 2008. Orders are growing significantly and the customer base is broadening.

PDYOR.

Setting new highs, albeit on tiny volume: AXE Bid: 94p Offer: 99p Change: 4

I think this company has some great potential

Tonker, I think you're absolutely right (but then I would say that as I'm up 90% :o).

PDYOR, etc.

Good news out today:

Axeon Holdings Plc - Supply Agreement & New Order
RNS Number:6351I
Axeon Holdings Plc
28 November 2007

Axeon Holdings plc
('Axeon')

Supply Agreement and New Order


Axeon, the specialist provider of advanced battery and battery management
systems primarily for the reduction of automotive emissions, today announces the
signing of a supply agreement with Modec and a further order of prototype
batteries from VEICoLI s.r.l. ('Veicoli').

The Modec agreement includes a minimum quantity of battery and charger systems
worth around 20 million to be delivered through 2008 and into 2009 and in
addition covers the terms for the long term supply of battery and charger
systems by Axeon to Modec.

Veicoli, an Italian vehicle converter has ordered ten prototype battery sets.
This order has followed on swiftly after delivery of a proof of concept battery,
the order for which was announced in July. The batteries will be installed in
taxi and minibus demonstration vehicles.

Hamish Grant, CEO of Axeon, said:
'The supply agreement with Modec is the conclusion of two years of cooperative
work between the two companies to develop and put into production a large Li-ion
electric vehicle battery pack. We are delighted to be associated with such a
prestigious project as the Modec urban electric delivery vehicle. We are now
delivering production Li-ion batteries to Modec and have been contracted to
develop a longer range Li-ion battery to enter production during 2008.

Our modular battery management system has enabled us to quickly develop and
deliver a proof of concept to Veicoli and both companies have been very pleased
with its performance. A follow on order for another ten systems is a sign of
their confidence in our capability. We look forward to being able to support
their electric taxi and minibus programmes.'

And they are also placing some shares to raise some working capital. There's loads of useful detail in the RNS but I thought it a bit long to post the whole lot here.

RNS Number:6355I
Axeon Holdings Plc
28 November 2007

Axeon Holdings plc

Conditional placing of 13,333,333 new Ordinary Shares to raise approximately
11.4 million (net of expenses)


Axeon, the specialist provider of advanced battery and battery management
systems primarily for the reduction of automotive emissions, today announces its
intention to raise approximately 11.4 million (net of expenses) by way of a
Placing.

Summary of the Placing:

* Placing of 13,333,333 Placing Shares at a price of 90p per share to
raise approximately 11.4 million (net of expenses).
* The Company has also today announced the signing of a supply agreement
with Modec worth approximately 20 million and a further order of prototype
batteries from Veicoli.
* The net proceeds of the Placing will be used to fund the anticipated
working capital requirements relating to customer orders and additional new
business opportunities as well as to strengthen the Company's balance
sheet.


Charles Matthews, Chairman of Axeon, said:

'Since the Ristma acquisition completed in August the company has started
production of Li-ion battery packs for the Modec urban electric delivery
vehicle, and has seen a material increase in orders and enquiries for other
large electric vehicle Li-ion battery packs. In response to these expanding
opportunities the Board believes that it is appropriate time to strengthen the
balance sheet of the company to be able to finance the additional projected
working capital requirements arising from these opportunities.'

and the chance of plenty more good business in the future (extracted from the placing RNS):

"Recent developments

Since the acquisition of Ristma, Axeon has seen a material increase in enquiries
for its Li-ion EV products across a range of product areas. These include
applications for city cars, road sweepers, city buses, city taxis, scooters,
airport vehicles, urban delivery and motor sport applications. Some of these
applications have already moved to prototype discussions while others remain at
the planning stage."

Ouch - big drop in the SP in the last few days, but no news that I can see....

Recent News:

Axeon Holdings Plc - Re Contract
RNS Number : 2754U
Axeon Holdings Plc
13 May 2008


13th May 2008
AXEON HOLDINGS PLC

Delivering clean mobile power for electric vehicles, cordless power tools and mobile power applications

MAJOR LONG-TERM SUPPLY AGREEMENT WITH UK CUSTOMER

Axeon Holdings plc ('Axeon'), Europe's largest independent lithium-ion battery system supplier, is pleased to announce a major agreement worth a minimum of £17.3 million from Allied Vehicles Ltd.

Axeon has agreed a contract to supply a minimum of 1000 lithium-ion battery packs to Glasgow based Allied Vehicles Ltd 'Allied', the UK's leading vehicle adaptation specialist, to power a range of zero-emission vehicles for Allied's Zev Ltd 'Zev'
subsidiary. Allied are building on their strong relationship with Peugeot to provide a 3.5 tonne rated delivery vehicle based on the Peugeot Boxer, while the Peugeot Expert body shell provides options for a 3 tonne rated delivery vehicle, 8 seat minibus,
and a taxi. Allied are also developing an all electric 16 seat low floor city bus.

These vehicles were shown at the recent commercial vehicles show in Birmingham and received a very positive response from potential customers. The first delivery of batteries is scheduled for September 2008, with volume production of batteries
starting at that point. Zev are currently forecasting to produce around 200 vehicles a year.

With this agreement, Axeon is now providing battery systems for two of the three leading suppliers of electric vehicles (EVs) in the UK. EVs have the potential to reduce significantly the amount of CO2 produced in the UK, producing zero emissions at
the point of use. The 2006 Stern report on the economics of climate change identified transport as one of the leading sources of CO2 emissions. The subsequent King review clearly demonstrated that electric vehicles and plug-in hybrids offer the lowest CO2
emissions per mile in comparison to current vehicles, bio-fuels or fuel cell vehicles, even taking into account the use of fossil fuels for electricity generation.

Axeon brings to the agreement its considerable expertise in battery management, manifested in its proprietary Battery Management System (BMS). This is a highly-sophisticated protection circuit that maintains safe operation, controls the battery and
extends its life and durability, all critical for automotive applications. Axeon has expertise in solving automotive problems, as demonstrated by our work with other customers.

Allied has grown quickly over the last few years focusing on the market for converting vehicles to taxis and wheelchair-adapted vehicles. This vehicle conversion expertise means they have an established manufacturing and sales operation in Glasgow
coupled with an established dealer/maintenance network across the UK. With this agreement Allied has been able to combine the market-leading drive train and vehicle management systems of the Zev electric vehicles, which will be produced at the company's
expanded facilities in Glasgow, with the best available power source on the market today.

Hamish Grant, Chief Executive Officer of Axeon, said:

'We are delighted that Allied/Zev has chosen us as partners. This agreement represents a major step forward, expanding our customer base. It highlights our clear capability in the lithium-ion battery arena and our ability to meet the stringent design
and reliability needs of automotive customers.

With the government now providing grants from Cenex (Centre of Excellence for low carbon and fuel cell technologies) which help local authorities make up the difference in capital cost between EVs and diesels the scene is now set for significant
growth in the market, in which Axeon will play a major part.'

Gerry Facenna, Chairman of Allied Vehicles/Zev said:

'We are convinced that the time for electric vehicles has arrived and that we have developed the current market leader. This agreement enables us to add the market-leading power source to those vehicles and provide our customers with the best
zero-emission vehicles. In doing so we can help to improve the environment for everyone.'

Nice. Results due out soon too. DYOR.

Axeon Holdings warns of H2 loss - AFX


LONDON (Thomson Financial) - Battery systems provider Axeon Holdings Plc. warned it is likely to make a loss for the second half of the year instead of an expected profit, but sees a with a more positive picture for 2009 driven by growth in automotive and mobile power.

Axeon said its first half pretax loss widened due to heavy investments in research and product development during the period.

For the six months to end-June, the company said its pretax loss widened to 1.1 million pounds from 0.5 million pounds last year. Administrative costs rose to 2.4 million pounds from 1.9 million pounds last year.

However, revenues grew significantly to 32.9 million pounds from 2.5 million pounds last year, driven by power tool and mobile power product groups along with significant new development programmes in automotive.