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)

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.