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Half of it was written off in the accounts. In 2015 or 2016.
Bumble did w2t ever pay afc the 1 million pounds
Energy from waste seems to be off the horizon for AFC. When have they mentioned it in recent years?
Yes mucksy, and possibly Thailand too?
As far as i remember the deal with w2t was for exclusive UK deployment rights for use in energy-from-waste applications
Probably a good thing, they had a large holding in Stanelco and I got my fingers burned there!
No mention of Age of Reason or Yady as significant owners in any of our annual reports since 2016. We had a mystery big seller in the spring of 2018. Since 2016 whilst other parties have issued TR1 forms every time there has been an issuance of shares affecting % holdings there has been silence from the White’s. I think they have left on the quiet.
Another clue to the absence of a relationship. When did W2T last mention AFC? It has all been PHE for some time now.
Not sure Howard White is involved, but The Age of reason foundation is Ben White, who I thoughstill had a significant holding?
Yady Worldwide is also owned by Ben White, who bought 20m + of Lincs shares. Are they still invested?
Old link here to an ii.com discussion, but the lack of clarity still remains.
discussionhttps://www.ii.co.uk/discussion/t/age-of-reason-foundation-howard-white/964412
Thanks bumble, wasn't sure !
We all know that the electrodes and systems AFC will be selling will be incrementally improved ad infinitum, but for god sake they need to get some contracts. You know my feelings about Mr Bond, he has yet to justify his position and payment.
Best
Nice level headed post bb. Maybe all on here invested and wanting AFC to succeed should stop fueling the derampers we might have a decent SP if more funding is required soon!! Atm all the fund raising is above my average so I'm not that bothered, we know we need funding to deliver and I believe small dilution now hopefully before a big contract is signed is what bond is doing before we raise a large amount that will see us financially self sustaining.
Kiter, I don’t think the White family have anything to do with afc anymore. I talked about this yesterday. The other point is that those rights you refer to were linked to payments from W2T that were never fully paid and have been written off in the AFC accounts.
As to the work on the electrodes I believe AFC have targeted an initial market where the stress on the electrodes is low - a continuous low level charge of a battery. The cells will not be working flat out with stops and starts, as in an industrial situation. I think the work De Nora are doing is linked to broadening their use, though I may be wrong.
I guess the worry now is 1) They hinted in a RNS on 29/8/2019 they were still more than a year away from proper commercialisation - the critical path being the electrodes. "Majority of targets scheduled to be met within the first twelve (12) months of the agreement." In other words it wont be until late 2020 or 2021 that they can meet all their performance targets and go properly commercial, so will just do demonstrations until then. They probably need to show a proper four year electrode life running time, not just an extrapolation.
2) The other big worry is they gave rights to Waste2Tricity some years ago. Having seen what W2T are now doing with PHE, i.e. demanding PHE take them over in exchange of 40% new shares in PHE, I suspect we might see the same with AFC. This would give private related party Howard White (who was involved in setting up all three companies) control of both PHE and AFC, and dilute out everyone else like is now happening with PHE.
Can anyone shed some light upon this ? I'm very aware that adam bond does 30% of what he says he will. But clarification on the Howard White situation would be nice, I have emailed him directly but of course there was no reply.