AFC Energy PLC (LON:AFC) raced 30% higher to 28p this week after it agreed to power the world’s first all-electric international rally series.

As part of the Extreme E race, created by the same team behind the Formula E Championship, battery-powered SUVs will compete in remote locations such as the Arctic, Amazon Rainforest and the Sahara Desert, to highlight climate issues to an estimated 221mln viewers.

The hydrogen firm will provide a bespoke off-grid generation and storage system that will allow teams to produce their own fuel, with the water by-product being consumed on-site.

“This collaboration with AFC Energy is a game-changer, not just for Extreme E, but also to the wider sports and events industry which could also benefit greatly from using this innovative, zero-emission charging technology,” said Alejandro Agag, founder and chief executive of the race.

The alternative fuels sector recently cheered news the European Commission has made hydrogen a key point of its climate neutrality goal, although Ceres Power missed out on gains and shed 9% to 567p this week after IP Group Plc (LON:IPO) bagged £52mln after selling 9mln shares in the company.

IP, a developer of intellectual property-based businesses that first backed Ceres in 2012, said its investment in the fuel cell company had jumped seven-fold over time.

Looking at the wider market, the AIM All-Share index dipped by 0.8% to 875, underperforming the FTSE 100 which added 2.4% to 6,233.

In the life sciences space, Tiziana Life Sciences PLC (LON:TILS) soared 42% higher to 167p after submitting a patent application to use its antibody Foralumab to improve the success of CAR-T therapy, a treatment that engineers the patient’s T cells to tackle disease.

It may just be the time for cell therapy companies to pop, as US-listed Nkarta Inc’s shares rocketed by 69% to US$58.69 two days after its IPO, valuing the business at just shy of US$1.8bn.

Another cell therapy specialist, MaxCyte PLC (LON:MXCT), advanced 13% to 238p after confirming that CARMA Cell Therapies, its research and development operation looking at treatments for ovarian cancer and peritoneal mesothelioma was expected to be self-funded by the end of the year.

Other drug areas were also in favour, with Verona Pharma PLC (LON:VRP) jumping 42% to 68p after raising US$200mln to fund the clinical development of its breakthrough treatment for chronic obstructive pulmonary disease.

The pharma sector has enjoyed much greater attention during the coronavirus pandemic, with companies such as Avacta PLC (LON:AVCT) skyrocketing by 656% to 128p on the back of solutions to tackle the virus.

This week, the firm formalised its collaboration with Integumen PLC (LON:SKIN) to use its engineered proteins, called affirmers, to pick up the tell-tale signs of the respiratory infection in wastewater.

Moving on, batteries producer Ilika PLC (LON:IKA) and antennas maker Filtronic PLC (LON:FTC) surged by 52% and 35% to 95p and 10p, respectively, for no apparent reason, or it could be that the UK government’s ban on Huawei products may help them gain market share.

Meanwhile, water-saving and filtration technologies developer Xeros Technology Group PLC (LON:XSG) gushed 18% higher to 1p after its filtration technology was praised by the University of Plymouth for reducing microplastic pollution released from washing machines.

Among the fallers, African forestry and timber group Woodbois chopped off 30% from its shares to 2p after raising £13mln as part of a debt restructuring and refinancing.

Oil companies remained under pressure despite OPEC+ setting out plans to boost oil production next month, with TomCo Energy losing 26% to 0.7p and Sound Energy down 23% to 2p.

Elsewhere, Futura Medical tumbled 20% to 12p after the group said the US Food and Drug Administration required a new clinical trial for its erectile dysfunction treatment to confirm certain efficacy data.

Finally, fast-fashion leader Boohoo Group PLC (LON:BOO) shed 16% to 228p as it was perhaps still burnt by the allegations around modern slavery practices at one of its suppliers’ in Leicester, with a member of the UK parliament criticising the online retailer for failing to address claims of exploitations. The stock is now trading 41% below its pre-scandal levels.