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Our Teutonic vulpine friend seems to have disappeared. How odd...
I they did state 100 mucksy although now you mention a 99 I may go get one with a flake and nuts later if the sun comes out as I’m quite pleased with the mention of trying to releases more details of the order book - good RNS adds confidence loads to look forward too this year .
AFC presentation earlier this year
Market leading alkaline fuel cell technology
Growing list of international partners
Field demonstrated technology
Highly skilled team of 40 now growing to 100
Strong balance sheet of £62 million
Growing order book
Capital light manufacturing technology
20 billion diesel gender market must be decarbonised
The systems are modular scalable and transportable
They have a high level of fuel efficiency 60% at fuel cell module
Playing to their strength through use of green ammonia fuel to provide a lower cost of power around a 1/4 of the cost and transportation of direct hydrogen
With an RNS like this, the SP ought to be flying. The market moves in mysterious ways!
Yet again, good news/RNS is followed by a dip in the SP.
Perhaps if they released a RNS stating, all worked stopped due to Covid, new factory burns down plus all partners withdrawing their support/backing the sp would rise.
OK accept that's completely stupid, but sometimes the market acts, beyond stupid.
If I had some spare cash, even being what I think is reasonably fully invested, I would by another couple of thousand quids worth.
Patience is key.
A while ago I mentioned a friend who was involved in something which I thought was an AFC contract. He wouldn’t tell me anything but asked whether I held shares. Honestly, the chat was short and he didn’t tell me anything other than to ‘hold them and wait.’
Try not to stress.
No I thought there would be 99 employees
It is natural to expand the workforce when orders are due especially at this stage of their development. You knew there is an extremely good chance of orders soon so I am surprised you thought they could handle these with 40 staff.
Risky you must have insider knowledge, as I didn't know that they were expanding the workforce to 100 or the cracker was being delivered shortly
Great spot QC, yes that's reassuring that they're taking these steps. From my own work I know it can often be tough for start ups moving to established businesses to balance technical expertise (which got them where they are) with commercial skills (which will get them where they need to go), so knowing they're building commercial capability and seeking advice is very encouraging
Took some reading but I can’t see how this can be taken as anything other than positive- though sure some will. We always knew H2 2021 was going to be a key time and hopefully our patience will finally be justified.
One part that I did note was the section:
‘ The Directors are working with advisors and partners to establish the best means by which the Company will be able to disclose details of its order book and its commercial pipeline in order to provide confidence to the market of the Company's prospects.’
So despite some griping about lack of information affecting the SP and that AFC are doing nothing to mitigate this it does seem that this is not the case. They are aware and are looking to provide information in a way that keeps interested parties updated whilst protecting their interests. So for the whiners out there I hope this will give you less to moan about.
In all a good RNS and I look forward to more like this over the next few months.
I am kind of waiting for DW to pick holes in it
Even Deaertwolf has to like this!!
Good point Mucksy. Seems a bit odd that Ricardo wasn't mentioned up front but having read the whole thing..... Wow!
Simply lovely
Oggs read it all first Ricardo mentioned including maritime and rail
· Current book of over 50 qualified fuel cell deployment enquiries - the majority of which represent multiple order potential.
AFC Energy expects to announce multiple new system orders in the second half of this calendar year.
This is amazing
Afc to the moon ??
Ricardo not getting a mention along with ABB, Altaaqa and Mace?
Outlook
· AFC Energy expects to announce multiple new system orders in the second half of this calendar year.
· On track to complete design and system architecture of the integrated ABB / AFC Energy high power EV charger unit by the end of June.
· On track to supply first fuel cell system to ABB site in Q3 for physical integration with high power EV charger.
· Following COVID related delay, AFC Energy fuel cell system now on track for dispatch to ACCIONA in Q4 2021
· Multiple new product releases expected for second half of this calendar year.
· Juelich fuel cell system for German micro grid on schedule for completion in Q4 2021.
· Receipt of first commercial scale ammonia cracker for system integration next week that significantly advances competitive upstream fuelling strategy.
· Strategic collaboration in maritime sector under discussion.
· Assembly and commissioning facility at Dunsfold Park opens this week, incorporating office space for new engineering team.
· Recruitment of new product engineers, manufacturing and field technicians, fuel cell and polymer scientists, and commercial staff expected to continue with on average of two new starters per week.
· Commencement of scale up of manufacturing process for AlkaMem® anion exchange membrane ("AEM").
· Preparation for delivery of full prototype high power dense AEM fuel cell by calendar year end.
AFC Energy expects to announce multiple new system orders in the second half of this calendar year.
H/Y report out. GLAH