Shares digital

With the need for greener travel continuing to edge higher on the government’s agenda, one company to potentially reap the benefits is Oxonica (OXN:AIM), whose shares soared 120% to 49.5p following an important further validation of its Envirox fuel borne catalyst.

A trial of Envirox conducted last year by Stagecoach Group (SGC) on more than 550 of its vehicles has demonstrated a statistically significant fuel saving of 4.3% after three months. These results are consistent with those from the original trial carried out in 2004. Stagecoach has also indicated that it is satisfied with the outcome and plans to continue using Envirox across its 7,000 vehicle UK bus fleet. On top of this, Envirox has achieved further positive test results and has made significant commercial progress in mainland Europe and Russia.

Shares says: Outlook is improving, following last year’s hiccups, but the recovery of shares is some way off.

by: Rachel Robson