ASX Tech Stocks: Mattress tech play Alexium (ASX:AJX) up 34.72% after bumper US sales
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Textile technology company Alexium International (ASX:AJX) was leading the ASX tech stocks today, up 34.72% % off the back of bumper sales for its BioCool mattress tech.
The company specialises in flame retardancy and thermal management materials for military uniforms, workwear and bedding products and says its biodegradable phase change materials (PCM)-based cooling technologies accounted for 48% of total product sales in FY21.
PCM’s are used in a range of consumer products like bedding and activewear and Alexium says its BioCool technology leverages its years of research and analytics in thermal management applications.
Plus, the company is confident of further revenue growth in FY22 and estimates the value of the total addressable annual US bedding market as US$30m for textile and foam applications.
Adacel Technologies (ASX:ADA) +26.21%
The air traffic management and simulation trainer was up 26.21% today after announcing a tripling in profit before tax for FY21 of $7.7 million – that’s a 248% increase from $2.2 million in FY20.
This was partially due to increased sales of integrated software systems which were up 25.9% to $12.3 million and included the delivery of additional Air Traffic Control Common Simulators (ACS) units to the US Army via General Dynamics.
The company rose almost 5% off the back of news it’s in the process of filing several patent applications related to hydrogen energy storage systems.
The economics of hydrogen energy storage systems are closely tied to the capital cost of hydrogen electrolysers and DUG has been developing low-cost, maintainable solutions as part of its green- innovation investment initiatives.
Droneshield (ASX:DRO) +2.44%
DRO rose 2.44% after receiving around $1.1 million in cash as a grant from the Australia Government as an R&D Tax Incentive for its 2020 activities.
“DroneShield appreciates the substantial support it receives from the Australian Government at Federal and State level,”CEO Oleg Vornik said.
“We are a high-tech defence and homeland security business, employing over 30 engineers in Australia presently, and rapidly growing.
“This grant reflects the world-class cutting edge R&D work done here in Australia.”
JCurve Solutions (ASX:JCS) unchanged
Despite the Delta variant of COVID-19 causing upheaval in operations, the cloud tech solutions company announced a 136% increase in sales growth to $1.3m for the month of July 2021 – up from $0.6m in July 2020.
However, this had no impact on the share price which remained unchanged.
Veris Limited (ASX:VRS) unchanged
The spatial data services provider’s share price was unchanged after announcing it plans es to pursue a demerger and separate ASX listing of its subsidiary, Aqura Technologies – which delivers high-performance technology solutions across industrial wireless, enterprise communications and next-generation IoT applications.
The gaming machine and software developer and manufacturer dropped today after announcing it estimates its profit before tax for the second half of FY21 will be around $1.6 million – compares to the estimation in May of $1million.
The company projects revenue for 2HFY21 to be around $88 million, compared to $72 million in the first half of FY21 – which is an increase of 22%.
Clean TeQ Water (ASX:CNQ) -3.29%
The company dropped 3.29% despite announcing it had signed an agreement with Sunrise Energy Metals Limited (ASX:SRL) for the continued provision of certain technical research and development services at the Sunrise Battery Materials Project in New South Wales.