Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Love the Dad's Army reference! Very true sadly, somewhat comical when viewing from another country sometimes!
There is so much going on here in the background, and many names we now associate with AFC, either directly or indirectly through partners. You may remember a post I made showing a study ABB did on salmon farms here. I think this market will be a first mover on new technology, and what I find interesting is that they will be combining a variety of solutions, hydrogen boats, electric boats, creating power locally (especially those in the middle of nowhere),connecting to the planned hydrogen network here. I have a feeling ABB will be on to this market as they also offer the electrical interface solutions.
I've seen many other deals signed, ABB are really moving here and I see potential for Acciona. There are other companies signing agreements and there is competition, but I still believe AFC have a unique advantage in many markets. With the potential size of the market, there will be a need for collaboration on many fronts, and different people will try different approaches, let's hope AFC can shine through.
I'll search up some articles when I have time, sometimes they are hard to find or behind a pay wall. The mailing list from this lost is quite interesting: https://m.energywatch.eu/ it has helped me sometimes when the market has looked quite bad, and reminded me how much is happening all over, plus can be very interesting.
Agusta - look forward to some of the related articles you refer to, thanks.
ABs pop at UK government prior to COP26 now makes total sense. Boris et al (and any opposition) haven’t a clue what’s actually going on in their own back yard with businesses like AFC leading the charge. It’s so short sighted and makes government look like buffoons from an episode of Dad’s Army. Why would they have AFC demo’ing to Prince Charles but not invite them to charge the fleet of EVs or electric buses ?
AFC will indeed move forward without government support and hopefully flourish into a £multibillion organisation over time.
The scope for the marine and possibly defence (as we hopefully discover later this month) projects is very exciting indeed. I would like to understand whether L systems are still viable or whether the case for the S series is so compelling it’s worth the short wait to full validation and production scale up.
jjgb123
tank engine mmmm
Well summed up mucksy .....especially in a retrofit situation.
Fair point jgbb. They may well have many plans we are yet to see. I just get the impression that they are slowly dropping behind other countries, but happy to be proved wrong!
I think it would be better to have an open fuel cell stack if it's in the hold of a ship so as easier to work on .
Agusta,
Good post. Just one point, regarding your annoyance that the UK government haven’t done anything. Maybe they have?
There’s the final extreme E race at a British army base in a couple of weeks. Perhaps something is being done and will be announced shortly.
That would be nice.
Morning Southerhay! Great news indeed, and I'd long hoped/expected that AFC could tie in to one of the many maritime hydrogen projects going on here. I agree, AFC are now starting to enter all of their mentioned target narkets, and I'd say this particular deal covers multi system potential!
I hope you are correct with your S series progress thought. With this type of deal it would always have been for the S series, although in early stages this market is now moving very fast. Those who mention approvement in principal, I understand the questions but there is too much happening within the future maritime market here for this to come to a dead end. The competition is heating up here and there is a lot of money involved, the fact AFC are the first selected says a lot.
Now AFC have joined this market I'll probably drop some more articles of interest on the quieter days, there have been plenty that will now be of more interest to people here.
Final thought is how annoyed I am looking back at the UK and their lack of action. Norway have set out a plan with deadlines, the government are backing many projects and shouting about them, they truly want to be a competitor in the future hydrogen market. The UK seems to pump out plenty of hot air and no action, luckily AFC are finding their own way, so hopefuly Boris and his buddies miss a trick with this one and AFC can thrive without needing one of his wacky speeches!
Only a couple of posters have picked up on the word 'Modular', which has been mentioned in at least 2 reports regarding this latest news release.
Love the def of Modular, IE employing or involving a module or modules as the basis of design or construction.
Many ships, of all sizes are re-fitted with new engine systems over their lifetime, so as the AFC system, which I know will be only a part of a ships propulsion system, can be easer to fit than a none modular system it won't be just new builds that are the opportunity, as re-fits will be by numbers a far bigger prize.
As what is holding back the SP from an even bigger rise, it's that Covid knocking confidence in almost all businesses yet again, but as with all these world spreading viruses, once we learn to live with it, and we will, AFC's future is almost 100% certain positive.
DW I meant that as a country they’re always ahead of the field trying to get as clean as possible so this is another major step forward, regardless of their capability to do the work. This could of course start the regeneration of old shipyards to ramp up retrofit engineering companies. Just a thought
"...in the multi-billion-dollar effort to decarbonise the global maritime industry. " I like the term 'multi-billion-dollar'.
Hi Agusta- hope you’re well ? Excellent news for AFC today but great for Norway too with so much dependence on shipping.
Expand this throughout the rest of the world and the market potential for AFC is enormous! Even if we get a percentage of the new build and retrofit market!
What we’re clearly seeing here is the business divisions that AFC have clearly articulated steadily emerging such as..
Maritime
EV charging off grid
Diesel genset replacement
Data Centre back-up power.
It wouldn’t surprise me to see other such announcements coming along in the coming days but that’s wishful thinking on my part.
It does make me think more seriously now though that the S series is a lot more advanced than perhaps we previously thought and whether diesel gensets for Mace etc might in fact be S series and hence delayed news. Again, speculation on my part.
Great news and well done AFC!
AIP is the technical term used in the shipping industry. Standard jargon for an engineering design project.
I imagine the ‘approval in principle’ relates to the fact that there isn’t a physical completed system yet to give DNV approval to, this won’t relate to the contract just the regulatory approvals needed which sounds like it will just be a formality albeit with a lot of work to do.
Indeed. Let's hope AIP is not MOU's brother!
ABB’s maritime team introduced VARD to AFC in the Summer of 2021. AFC was uniquely placed with its alkaline chemistry and ammonia cracker technology, to fill the metrics set by the client. Since then, engineers from AFC Energy have been working confidentially with VARD to design a cargo ship propulsion and auxiliary power system integrating its fuel cell system.
Well done AFC more great news! Only 3 words yet again I am a little concerned about are "Approval In Principle" have we not been here before???
Retro-fit is the quick option with the 40ft container, don't need to build new ships DW
Fincaria S.p.A. is an Italian shipbuilding company based in Trieste, Italy. Already the largest shipbuilder in Europe, after the acquisition of Vard in 2013, Fincantieri group doubled in size to become the fourth largest in the world. The company builds both commercial and militar
Vard is just a small part of Europe’s largest ship builder. “
VARD is just a small part of Europe’s largest ship builder ! No wonder we didn’t attend the British Motor Show
£1 by Christmas!
Well done Afc,Bond and all holders this is a game changer.
Very happy to be proved wrong. Let's hope this is the beginning of a string of good news during December which will bring the SP back up to previous highs and beyond.
Looking how massive some of these Bulk Carriers can be, even a couple of dozen containing AFC technology, would easily bring in multiple millions of pounds.
Sorry forgot to add "can't believe I got back in yesterday" after exiting vls what timing thanks intuition and well done afc