r/DoubleBubbler

Vertical Aerospace, whose Valo aircraft is expected to enter service from 2030, said it was in high-level discussions about potential orders from the Ministry of Defence (MoD) and the Pentagon.

Stuart Simpson, the start-up's chief executive, said the Valo was well-suited to fulfilling logistics requirements on the battlefield. It could also be weaponised for a combat role or used for transferring personnel between Royal Navy vessels.

Discussions with a number of Western militaries concern a hybrid version of the electric vertical takeoff and landing (eVOL) craft, which would use a small gas turbine to recharge its batteries.

Mr Simpson said the hybrid aircraft would still be able to land in near silence, while doubling its potential payload to more than a ton.

‘He said: "We are having discussions right at the top of the house with the military. We've got some fantastic connections both here and across the pond. We talk to all the forces at a very senior level.

"For battlefield logistics, you can take off silently, cruise in near silence and then land in silence. At cruising altitude, the gas turbine is so small you can barely hear it."

The aircraft could also be flown autonomously, without a pilot, Mr Simpson said.

The Valo's battery packs could be used to power electrical equipment on the front line as an alternative to diesel generators.

Vertical Aerospace claims the rival eVTOLs being developed by California-based Joby and Archer are less suited to a battlefield environment, arguing they are too small to be refitted with hybrid engines.’

Read the full article…

https://www.yahoo.com/news/world/articles/ministry-defence-plots-flying-taxis-090000383.html

Long Duration Electricity Storage (LDES) is an increasingly important part of our energy system. NESO advice shows we need to increase the amount of storage on the system over the next few years. These assets let us capture energy from excess renewables when the wind is blowing and sun is shining and store this for when customers need it.

Ofgem has designed and is running its first ever window for cap and floor support to encourage the development of LDES projects, applying the successes of the similar schemes we have run for many years to encourage the development of interconnectors to other countries.

We were pleased with the very strong set of applicants we received for Window 1 with over 70 projects of nearly 30 GW participating in the Project Assessment. We have completed a thorough project assessment to select the best projects to meet system need. We are pleased to set out the results of that assessment today, with a varied portfolio of projects which we are minded-to support to ensure we are developing the clean power system for the future.

Beatrice Filkin

Director of Major Projects
Ofgem

Read the full document… https://consult.ofgem.gov.uk/energy-generation/ldes-window-1-minded-to-decision/supporting_documents/ldes-window-1-minded-to-decisions-consultationpdf

Thanks to u/Intrepid-Pen-3112 for the heads up on this!

23rd June 2026

Year End Trading Update

 A record trading year, major contract wins and fast growing sales pipeline

FY27 revenues of £32-34m already 80% covered underpinning further growth 

EnSilica plc (AIM: ENSI), a leading fabless microchip maker with a growing portfolio of reusable IP, serving the Space and Communications, Industrial, and Automotive markets, is pleased to announce the following update on the Group's trading performance for the financial year ended 31 May 2026 ("FY26"). The financial information contained in this announcement is unaudited and remains subject to completion of the Group's year-end audit. 

The Company expects to announce record results showing substantial trading growth over the prior year on all key metrics, a significantly enhanced balance sheet following an oversubscribed £10m equity fundraise in March 2026, and an expanded new business sales opportunities pipeline, up by $200m to $600m (even after $125m of contract wins transferred from the pipeline into supply revenues).  Overall, the results reflect the progress of the Group's continued transition from being a design-led business to becoming a semiconductor design-and-supply company. 

Year ended 31 May	FY26 Unaudited	FY25 Audited	Change
Revenue	£27.5m	£18.2m	51%      ↑
EBITDA	£4.7m	£2.0m	£4.7m     ↑
Lifetime Supply Revenues	$375m	$250m	50%     ↑
Sales Opportunities Pipeline	$600m	$400m	50%     ↑

Commenting on the FY26 trading performance, CEO Ian Lankshear, said:

"FY26 has been a very successful year for the Group as it continues in its transition to being a fabless semiconductor company. As these results show, we believe the business has moved to the next stage in becoming a leading, scalable platform in chip design and manufacturing within our specialist high-growth markets, especially the rapidly expanding Space and Communications sector. We have proven our capabilities in the marketplace and the £10m equity fundraise in March 2026 to strengthen our balance sheet has enabled the Company to make material strategic progress, including securing two satellite contracts with the potential to unlock matched funding and a strategically important $75m auto contract.

With the excellent contract conversion we enjoyed during FY26, the success of our model is increasingly evident, now with 3 chips poised to boost revenues by moving into supply production over the next 18 months. Moreover, the 50% increase in our lifetime supply revenues and new business pipeline to $375m and $600m respectively is an indication of the future trajectory of the business and EnSilica's ability to achieve its ambition of becoming a global leader in chip design and manufacture. The Company has never had a stronger pipeline of opportunity and management are now focused on evolving our repeatable IP into long-term revenue-generating chips which current and future customers will rely on for years to come." 

FY26 Trading

The Company expects to deliver revenues of £27.5m for FY26, which are within 2% of the £28-30m guidance. Pleasingly, the anticipated EBITDA of £4.7m exceeds guidance of £3.5-4.5m, enhanced by Space related grant income. On 11 June 2026, shortly after the year end, the Company announced the completion of the tape-out stage for the Edge AI contract, which had originally been forecast to occur during FY26 and instead it bridged into the new financial year.  Had the tape-out for the Edge AI contract occurred within FY26, revenues would have been ahead of market expectations. 

Looking forward, the Group expects FY27 revenues to be in the range of £32-34m and EBITDA of £5.5-6.5m, reflecting the Group's strengthened visibility against prior years, as approximately 80% of anticipated FY27 revenues were already covered at the start of the financial year by existing contracts, supply agreements and customer orders.  For comparison, the Company announced approximately 80% coverage of its FY26 revenues as part of its full year results in November 2025.

In addition, the Company has also completed the tape-out stage of a second ASIC for Siemens for use in industrial automation, which is on schedule to be in production in FY27.

Current lifetime supply revenues increased by 50% to $375m compared to $250m at the outset of the financial year, with the uplift coming primarily from two major contract wins: a user terminal chipset programme with a leading European satellite operator, expected to generate lifetime semiconductor supply opportunities exceeding $50m, and a major automotive semiconductor supply contract, expected to generate approximately $75m over its lifetime. 

The expansion of the new business sales pipeline, increasing from $400m to $600m (even after $125m of contract wins transferred from the pipeline into supply revenues), comprises potential customers from across our core target sectors. These include high-value satellite payload projects for major operators and manufacturers, which are already at either the funded-study or first-phase design stage, as well as several key opportunities for EnSilica's proprietary user satellite terminal ASSPs.  

Cash at year end was £7.5m. This strengthened financial position has enabled the Company to accelerate and broaden its commercial activities, and together with growth in both supply and NRE revenues and the growing sales pipeline, the Board will continue to invest in strengthening the pipeline and accelerating the conversion of opportunities to enhance returns over the longer term, whilst also targeting positive monthly operational cash generation after investment in intangible assets, and therefore now expected by the end of FY27.  

The success of EnSilica's business model is increasingly evident with the Company's portfolio of chips visibly maturing, moving from design stage into generating long-term supply revenues. The Group currently has five ASICs in the volume supply phase, with several additional programmes expected to enter volume supply during FY27 and FY28. Alongside this progress, it is notable that EnSilica has yet to fully realise the financial benefits of its position in the high-value space sector. Currently, only one chip is generating supply revenues, while a further five of the Company's 14 chips in design are targeted at Space applications. As these programmes move into production, they are expected to become significant contributors to future revenue growth.

Outlook

Demand for EnSilica's specialist expertise remains strong across its Space & Communications, Industrial and Automotive markets. With strong revenue visibility, an expanding production portfolio, growing semiconductor supply revenues and record levels of long-term supply opportunities, the Board remains confident in the Group's growth trajectory and future profitability.

Notice of Results

The Company expects to announce its audited results for the year ended 31 May 2026 in October 2026.