Many of the big jumps seen this week in the junior market have been made by companies hoping their fortunes have changed after more downs than ups in recent years.

Simec Atlantis Energywhich has fallen 98 per cent in the past five years, caused a stir this week when it won a UK government contract to bring tidal power to Scotland in what it said would be the largest site of its kind in the world.

It was one of four tidal projects to be backed in the UK’s Department for Business, Energy and Industrial Strategy’s latest ‘contracts for difference’ auction, where each will be guaranteed a minimum price and stable output prices for at least a decade.

Simec has won a UK government contract to supply tidal energy in Scotland, which it says will be the largest site of its kind in the world

Shares rose 59 per cent to 1.98p, with the award for Simec’s MeyGen tidal project giving the company a path to developing a full 400 megawatt tidal stream array that has been planned for more than a decade.

“The significance of today’s announcement cannot be understated,” said chief executive Graham Reid.

It was even higher to rise Nanosynthwhich, under its former name Remote Monitored Systems, captivated investors during the pandemic with its plans for an anti-virus face mask.

Its shares rose 1,500 per cent from less than a third of a penny to almost 5p in late 2020, but have fallen flat after delays and deregulation.

After refocusing on specializing in the nanotechnology business since last summer, the shares have climbed 78 per cent to 0.47p this week amid a broad upgrade on Monday.

It mentions an “exciting pipeline” of interest in copper nanomaterials that are sprayed to improve the antiviral properties of medical masks and other filters, for which an application is planned to be submitted to the UK’s Health and Safety Executive.

Other developments include the creation of a new e-commerce subsidiary that will become “the largest producer of nanonan” on the market, and news that talks are “at various stages” of potential partnerships for some of the company’s 37 research and development projects. it was revealed last month.

There was still a rack Tekmarwhich, after plunging more than 96 percent since the start of the pandemic, jumped 90 percent to 11.89 pence on Friday morning after signing a “significant new contract” of an undisclosed size for an offshore wind farm project in Japan next year.

In another corner of the green energy market, EQTEC rose 25 per cent to 0.75p after moving into the liquid fuels market through a framework agreement to collaborate on waste-to-fuel projects with gas-to-liquids specialist CompactGTL.

The pair plans to design, develop, build and operate waste-to-fuel projects and other synthetic fuel and energy infrastructure projects with an initial focus on small-scale modular waste-to-fuel plants.

elsewhere Dipverj rose 23 per cent to 12.27p after it revealed that consumer offering Skin Trust Club generated more than £1m in sales.

Products powered by Labskin technology have secured 20 new sales and marketing agreements with new-age skin care companies this year.

Filtronic jumped 15 percent to 14p after winning a new contract to design and manufacture a series of filter-related developments for an existing aerospace and defense customer.

But such gains were offset by almost as many losses for the week, with the AIM All-Share Index only marginally above flat, up three points to 880.28, although that was marginally better than the 31-point drop for the FTSE 100 .

The biggest fall was Bluerock Diamondswhich shed 42 per cent of its luster to 7.5p after opening a refinancing that could leave existing shareholders heavily shorted.

The company has signed a £1m loan with Teichmann Co, which will later be converted into equity at 7p per share and will increase Teichmann’s stake from 17.4 per cent to 51 per cent, but with a waiver to be sought from the Takeover Committee to Teichmann might not need to make a binding offer.

Executive chairman Mike Huston said: “The need for funding has arisen as a result of an excessively long rainy season this year, which has delayed ramp-up and development of our main pit, resulting in significantly lower and lower-than-expected production levels. ‘

Profit warning from The highestwhich distributes batteries and light bulbs, fell 36.2 percent to 79.88 pence.

The company, which went public last February, said it was also cutting its dividend payout ratio to invest more in the business, including potential mergers and acquisitions.

A “significant” slowdown in light bulbs and lighting fixtures last year led to a warning that revenue and underlying profit were likely to be lower than last year, while forecasts for the new year were also cut.

Novacytone of the small-cap stars of 2020, fell 32 per cent to 108.72p after being hit hard by a drop in business linked to Covid-19

The clinical diagnostics specialist said first-half revenue was hit by a 73 percent year-on-year drop in pandemic-related sales, a faster drop than the company expected.

If the fall in sales seen in the second quarter continues to the end of the year, full-year earnings will be around £20m less than previously expected.

Novacyt also said it plans to spin off the Lab21 Healthcare and Microgen Bioproducts businesses and is taking steps to further rationalize its costs.

Sports nutrition company Science in sports fell 30 percent to 31 pence on Friday after saying first-half revenue growth missed forecasts and warning of losses for the year.

He said he estimates a loss of profitability for the year due to higher prices and the closure of Russian operations, while first-half revenue growth will be “lower than expected.”

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