Italy's Sapa Buys Megatech in Auto Suppliers Consolidation
Italian car-parts maker Sapa Group agreed to buy rival Megatech Industries AG, gaining greater heft with major European automakers at a time when many suppliers are struggling.
The deal will nearly double Sapa's revenue to as much as €700 million ($728 million), and expand ties between the auto-interior supplier and major customers such as Volkswagen AG, BMW AG and Stellantis NV, it said in a statement. Terms weren't disclosed.
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Business Wire
41 minutes ago
- Business Wire
Proxima Fusion Raises €130M Series A to Build World's First Stellarator-Based Fusion Power Plant in the 2030S
MUNICH--(BUSINESS WIRE)-- Proxima Fusion, Europe's fastest-growing fusion energy company, today announced the close of its €130 million ($150 million) Series A financing — the largest private fusion investment round in Europe. The Series A financing was co-led by Cherry Ventures and Balderton Capital. Significant participation also came from UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, Omnes Capital, Elaia Partners, Visionaries Tomorrow, Wilbe and redalpine, the latter of which led Proxima Fusion's seed round just one year ago. This brings Proxima Fusion's total funding to more than €185 million ($200 million) in private and public capital, accelerating its mission to build the world's first commercial fusion power plant based on a stellarator design. Francesco Sciortino, CEO and Co-founder of Proxima Fusion, said: "Fusion has become a real, strategic opportunity to shift global energy dependence from natural resources to technological leadership. Proxima is perfectly positioned to harness that momentum by uniting a spectacular engineering and manufacturing team with world-leading research institutions, accelerating the path toward bringing the first European fusion power plant online in the next decade." Shifting global energy dependence Proxima was founded in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics (IPP), with which it continues to work closely in a public-private partnership to lead Europe into a new era of clean energy. The EU, as well as national governments including Germany, UK, France and Italy, increasingly recognize fusion as a generational technology essential for energy sovereignty, industrial competitiveness, and carbon-neutral economic growth. By building on Europe's long-standing public fusion investment and industrial supply chains, Proxima Fusion is laying the groundwork for a new high-tech energy industry—one that transforms the continent from a leader in fusion research to a global powerhouse in fusion deployment. 'We back founders solving humanity's hardest problems — and few are bigger than clean, limitless energy," said Filip Dames, Cherry Ventures Founding Partner."Proxima Fusion combines Europe's scientific edge with commercial ambition, turning world-class research into one of the most promising fusion ventures globally. This is deep tech at its best, and a bold signal that Europe can lead on the world stage.' Proxima is taking a simulation-driven approach to engineering that leverages advanced computing and high-temperature superconducting (HTS) technology to build on the groundbreaking results of the IPP's Wendelstein 7-X stellarator experiment. Just earlier this year, together with the IPP, KIT and other partners, Proxima unveiled Stellaris. As the first peer-reviewed stellarator concept to integrate physics, engineering, and maintenance considerations from the outset, Stellaris has been widely recognized as a major breakthrough for the fusion industry, advancing the case for quasi-isodynamic (QI) stellarators as the most promising pathway to a commercial fusion power plant. Daniel Waterhouse, Partner at Balderton Capital, said:"Stellarators aren't just the most technologically viable approach to fusion energy—they're the power plants of the future, capable of leading Europe into a new era of clean energy. Proxima has firmly secured its position as the leading European contender in the global race to commercial fusion. We are thrilled to partner with Proxima's game-changing team of engineers, alongside Europe's top manufacturers, to build a company that will be transformational for Europe." With this new funding, the company will complete its Stellarator Model Coil (SMC) in 2027, a major hardware demonstration that will de-risk high-temperature superconductor (HTS) technology for stellarators and stimulate European HTS innovation. Proxima will also finalize a site for Alpha, its demonstration stellarator, for which it is in talks with several European governments already. Alpha is scheduled to begin operations in 2031, and is the key step to demonstrating Q>1 (net energy gain) and moving towards a first-of-a-kind fusion power plant. The company will continue to grow its 80+-strong team across three offices: at the headquarters in Munich, at the Paul Scherrer Institute near Zurich (Switzerland), and at the Culham fusion campus near Oxford (UK). ' Fusion energy is entering a new era—moving from lab-based science to industrial-scale engineering, ' said Dr. Francesco Sciortino. 'This investment validates our approach and gives us the resources to deliver hardware that is essential to make clean fusion power a reality.' Ian Hogarth, Partner at Plural said: 'Proxima Fusion exemplifies a new kind of European ambition - a full force effort to develop the world's first fusion power plant. Since their first round of funding two years ago, Francesco and the team have hit extremely challenging milestones ahead of schedule and hired a team that spans plasma physics, advanced magnet design and computer simulation. Their peer-reviewed stellarator power plant design concept confirms that fusion really can be commercially viable, and creates an opportunity for Europe to be first to the target.' About Proxima Fusion Proxima Fusion spun out of the Max Planck Institute for Plasma Physics (IPP) in 2023 to build fusion power plants using QI-HTS stellarators. Proxima has since assembled a world-class team of engineers, scientists and operators from leading companies and institutions, such as the IPP, MIT, Harvard, SpaceX, Tesla, and McLaren. By taking a simulation-driven approach to engineering that leverages advanced computing and high-temperature superconductors to build on the groundbreaking results of the IPP's W7-X stellarator, Proxima is leading Europe into a new era of clean energy, for good.
Business Wire
an hour ago
- Business Wire
Mitsubishi HC Capital UK PLC (Trading as Novuna) Reports Profits of £120.6M With Record New Business Volumes
LONDON--(BUSINESS WIRE)-- Commenting on these results, Robert Gordon, CEO of Mitsubishi HC Capital UK PLC, said: 'Despite the headwinds of the past year, Mitsubishi HC Capital UK PLC has delivered a strong and resilient performance. Our unwavering focus on delivering value-added products and exceptional service across both commercial and consumer markets has driven record levels of new business, while also deepening relationships with existing customers. 'Through strategic investments in our people and technology, and by exiting underperforming European branch operations, we have strengthened our operational efficiency and upheld a high-quality portfolio. With margin pressures easing and a growing, diverse funding base, the Group is well-positioned for sustainable, long-term growth. Winning and retaining customers will continue to be at the heart of our success.' Group profits and record new business volumes Mitsubishi HC Capital UK PLC, trading as Novuna in the UK, revealed record levels of new business with pre-tax profits on continuing operations of £120.6m, with net earning assets reaching £8.6bn. New business reached £4.65bn, a 6.3% increase on the prior year, winning some of the UK's largest contracts including Vitality, Specsavers, Royal Mail and Schneider Electric. The Group, a top ten provider of consumer, vehicle and asset finance with over 1.3 million customers, maintained a high-quality portfolio across commercial and consumer sectors, with bad debt at just 0.32% of total assets - only marginally higher than last year from rigorous credit underwriting and improved affordability assessments. Mitsubishi HC Capital UK PLC diversified its capital funding sources with public issues in Asia, the UK and Europe during 2024/25, attracting new funders. Each business division across the UK and Europe returned pre-tax profits during the year with a total of £9.4bn of assets under management. Novuna Consumer Finance As a top 10 provider of retail point of sale finance and personal lending through its loan channel Novuna Personal Finance, it posted an annual pre-tax profit of £38.9m, up £9.5m on the previous financial year. New business volumes grew by 8.0% on the prior year up to £2.5 billion, coupled with the recovery of new business margins during 2024/25. It welcomed 600+ new retail partners, including Vitality and Specsavers, while expanding non-brokered credit solutions through its membership and annual fee renewal credit facilities for golf clubs, football clubs and independent schools. Novuna Vehicle Solutions The sixth largest leasing company in the UK expanded its fleet during 2024/25 from 109,000 to over 113,000 vehicles. Fleet value grew by 8.9% YoY to £2.1bn, with the business advancing customers' sustainability goals through end-to-end, fuel agnostic decarbonisation solutions. Delivering tailored solutions to customers including Amey, Centrica, Network Rail and Kier and new customer wins including Royal Mail and Schneider Electric, it saw new business volumes rise by 4.2%, from £848.2m to £884.1m. MHC Mobility The European leasing subsidiary of Mitsubishi HC Capital UK PLC, which operates across seven European countries, exceeded expectations in the Netherlands and Germany, recording a pre-tax profit on continuing operations of £15.8m. Pre-tax losses of £11.5m were recognised in relation to discontinued operations in Czech Republic, Slovakia, and Hungary. During the year, MHC Mobility Benelux expanded into Luxembourg, strengthening its presence in the region alongside existing operations in Belgium and the Netherlands as Net earning assets grew across MHC Mobility by 6.6% from £749.1m to £798.6m. Novuna Business Finance As the UK's largest non-bank asset finance provider serving SMEs and larger corporations, it achieved a profit before tax of £22.9m. New business volumes grew by 7.2% up to £760.7m, driven by a 20% increase in Commercial Broker business together with an 8.9% increase in direct routes to market. The core proposition of supporting UK SMEs to develop and grow was delivered through a 6.7% portfolio growth to £1.9 billion. Stocking facilities nearly reached a £300m milestone and sustainable project finance, the fastest growing new channel, surpassed £100m balances outstanding. Novuna Business Cash Flow The business unit, providing cash flow finance solutions to businesses of all sizes across several sectors in the UK, achieved a pre-tax profit of £1.8m in 2024/25 with a 4.8% increase in its net earning assets up to £136.6m. Large corporate clients represented over half of the portfolio for the first time. This growth, coupled with diversification of its revenue streams led to a strong performance with the business offering more comprehensive cash flow solutions. European Vendor Finance The provider of tailored vendor finance for specialist assets generated pre-tax profits of £1.1m, up from £0.5m last year. New business volumes increased by £7.2m, reaching £129.8m, achieved through a focus on key group and global accounts. Expanded geographic presence into Iceland, now transacting across 25 countries, with 52% of net earning assets in Europe, up by 6% YoY. Financial Results Mitsubishi HC Capital UK PLC's full annual report for FY 24/25 can be found at: Notes to Editors: The figures above represent continuing operations. The prior year comparatives have been re-presented to exclude discontinued operations. The loss after tax on discontinued operations was £10.3m (2024: £8.4m). About Mitsubishi HC Capital UK PLC Mitsubishi HC Capital UK PLC is a leading UK based financial services company, authorised and regulated by the Financial Conduct Authority (FCA). We have over 2,300 employees, £8.6bn of Net Earning Assets and over 1.3 million customers across our business divisions and subsidiaries: Consumer Finance, Vehicle Solutions, MHC Mobility, Business Finance, Business Cash Flow, and European Vendor Finance providing innovative finance solutions to enable consumers and businesses to grow and prosper. We are a wholly owned subsidiary of Mitsubishi HC Capital Inc., strengthening our relationship with one of the world's largest and most diversified financial groups, with over 11trn yen (£57bn) of assets.
Yahoo
an hour ago
- Yahoo
High Growth Tech Stocks To Watch In Global Markets
Global markets have experienced a positive momentum recently, with U.S. stock indexes climbing for the second consecutive week, led by small-cap stocks and a strong performance in the information technology sector driven by optimism around AI-related advancements. In this context, investors often look for high growth tech stocks that demonstrate resilience and innovation, particularly those that can capitalize on emerging trends like artificial intelligence to potentially drive future growth amidst evolving market conditions. Name Revenue Growth Earnings Growth Growth Rating Shengyi Electronics 22.99% 35.16% ★★★★★★ Shanghai Huace Navigation Technology 24.44% 23.48% ★★★★★★ Intellego Technologies 30.80% 45.66% ★★★★★★ KebNi 21.51% 66.96% ★★★★★★ Pharma Mar 29.61% 44.92% ★★★★★★ eWeLLLtd 24.95% 24.40% ★★★★★★ Global Security Experts 20.56% 28.04% ★★★★★★ Rakovina Therapeutics 40.75% 16.49% ★★★★★★ Elliptic Laboratories 36.33% 78.99% ★★★★★★ JNTC 54.24% 87.93% ★★★★★★ Click here to see the full list of 746 stocks from our Global High Growth Tech and AI Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Sectra AB (publ) is a company that offers solutions in the medical IT and cybersecurity sectors across Sweden, the United Kingdom, the Netherlands, and other parts of Europe, with a market capitalization of approximately SEK67.82 billion. Operations: Revenue for Sectra primarily comes from its Imaging IT Solutions and Secure Communications segments, contributing SEK2.80 billion and SEK407 million respectively. The company's focus on medical IT and cybersecurity solutions positions it within key European markets including Sweden, the UK, and the Netherlands. Sectra, a leader in cybersecurity and medical imaging IT, is demonstrating robust financial and strategic growth. In the fiscal year ending April 2025, the company reported a significant revenue increase to SEK 3.54 billion from SEK 3.04 billion the previous year, with net income rising to SEK 563.37 million from SEK 428.39 million. This performance is underpinned by a strong R&D focus, as evidenced by their latest innovations in enterprise imaging solutions provided as cloud services—Sectra One Cloud and Sectra Amplifier Service—which enhance scalability and integrate AI seamlessly into clinical workflows. These advancements not only solidify Sectra's market position but also cater to evolving customer needs in healthcare technology, ensuring continued growth in a competitive landscape. Navigate through the intricacies of Sectra with our comprehensive health report here. Explore historical data to track Sectra's performance over time in our Past section. Simply Wall St Growth Rating: ★★★★★☆ Overview: Wuxi Taclink Optoelectronics Technology Co., Ltd. specializes in the development and production of optoelectronic devices, with a market capitalization of approximately CN¥9.67 billion. Operations: The company focuses on producing optoelectronic devices, contributing significantly to its revenue. Its cost structure and financial performance are primarily driven by this core business area. The company's gross profit margin exhibits notable trends, reflecting its operational efficiency in the market. Wuxi Taclink Optoelectronics Technology is distinguishing itself in the optoelectronics sector with a promising growth trajectory, evidenced by an anticipated 39.1% annual revenue increase and a forecasted 44.1% rise in earnings per year. This performance is bolstered by strategic R&D investments, crucial for sustaining innovation and competitiveness within this high-tech industry. Recent corporate activities, including a significant stock split announced for May 2025, reflect the company's proactive approach to enhancing shareholder value and market presence. These developments underscore Wuxi Taclink's potential to capitalize on expanding market demands while continuously evolving its technological capabilities. Dive into the specifics of Wuxi Taclink Optoelectronics Technology here with our thorough health report. Learn about Wuxi Taclink Optoelectronics Technology's historical performance. Simply Wall St Growth Rating: ★★★★★★ Overview: Fositek Corp. specializes in the manufacture and wholesale of electronic materials and components, with a market capitalization of approximately NT$45.18 billion. Operations: The company generates revenue primarily from electronic components and parts, totaling NT$8.73 billion. Fositek's recent performance and strategic decisions underscore its potential within the high-tech sector. With a 75.3% surge in earnings over the past year, outpacing the industry's 14.2%, and an expected annual revenue growth of 26.7%, Fositek is advancing rapidly. The company has also demonstrated a strong commitment to innovation, as evidenced by its R&D investments which are crucial for maintaining competitiveness in technology-driven markets. Moreover, significant corporate actions like amendments to the Articles of Incorporation reflect a proactive stance in governance that could further bolster investor confidence and business resilience. Click here to discover the nuances of Fositek with our detailed analytical health report. Review our historical performance report to gain insights into Fositek's's past performance. Take a closer look at our Global High Growth Tech and AI Stocks list of 746 companies by clicking here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OM:SECT B SHSE:688205 and TWSE:6805. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
