The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Hi ferrotty - spot on ! I've been try to say the same over recent days. It's tedious beyond !
We should be encouraging people to invest. AFC is no different to other fledgling companies. They have limited resources and a mountain of work to do. They have heard our pleas for more information a million times. They have responded to that at the back end of last year. They should be left to crack on and release (real) news when it becomes commercially appropriate to do so.
It's getting to the point (again) that looking on this board is of no value until Investigate inform us at 7am someday that news is available for us to discuss.
Any new investors have many sources of information to do their own research.
I appreciate that people here have been invested a long time with so many false dawns, I invested just after Abramovich bought in, it was the same then after the initial spike in SP, I decided to sell up as the news flow had abated in 2016 and I thought Adam was not being truthful, fortunately I left with a good profit but I always had AFC on my radar and subsequently bought back in around the 8-9p after the membrane update, but all this MOANING is only creating fear for any new investors whom look in on this BB with the idea of investing, how many times do we have to read all the same negative info over and over again, can we have a truce and at least stop all the negativity and be a bit more optimistic that we have a good product/products that takes time to put it out there and sell it to the customers, I am sure were going to get those orders so please be patient.
DW, I don’t have a lot of time to read all your posts this afternoon, but you are misleading people about the ev charger. It was NOT ready to sell a year ago, it was a Proof of concept model only that was released. That required work done on it through the year with new partners acquired since, and key components (the flow plates) only becoming available in the autumn. The first model was released on time in December. I saw the proof of concept model in April and the commercial product in December. There is a huge difference between the two. I wish that instead of firing off volleys of criticism you would just once actually make an effort to attend AGMs or product launches and write more informed posts.
But to finish on that one the 1GW target was clearly nonsense. More from me later.
Tonight we will follow up this argument, I have work to do. Yours is clearly well under way. I trust you have a successful day undermining the sentiment.
And the units clearly were not ready for sale in early 2019. I saw what they had at the AGM, it was nothing like the finished unit they had in December. They announced the prototype in January 2019. That needed polishing off for the final sales model, with input by other companies in December.
Which sales guys did they hire in 2018 DW?
So you agree with the philosophy on Southern then. It is of course possible that there genuinely are other issues at Southern although the longer it drags on the less convincing that argument becomes.
Agreed Bumble,
But often it is better to get good working technology out there, because if you always delay for the sole reason of continuing improvements, IE reaching the 'holly grail' level your technology stays on the shelf as your competition takes all the sales.
Probably me being impatient, but that's how I often view AFC's philosophy.
Well, after the AGM a couple of years ago Jim Gibson told some of us they could agree a deal with someone in the coming months at 2 year longevity with the assumption that by the time it was ready for sales it would be ready for 4 year longevity. I suspect the flow plates took longer than they expected to be sorted out. Don’t forget that deal was to lease electrodes. It gave the opportunity to demonstrate the product. If they lasted long enough to cover costs over 2 years the next generation would be better and give a better return.
The fact remains that it is now several weeks since the EV unit was demonstrated at a 100% ready to go unit.
If those as AB said after the demo, were as enthusiastic as he stated, then why have we not seen signatures on at least 1 contract.
It is not as if those potential customers had not looked as deep as possible pre demo as obviously AFC would have been very open to these people re costs, value ect.
If the tech was not ready ...why did they agree a deal with Souhtern Oil and build up the hopes of many shareholders ?
I don’t understand how you can say he claimed they were commercial in the past DW. He set out the PLACE metrics and they have clearly demonstrated why the tech was not commercial. It is only since the AGM last year that people like Rennocks have started to use the word commercial, and that has been matched by the build up to the product launch in a December.
Do you think sales were realistic before the tech was ready to sell?
It is said to be now so he needs to deliver.
So while people criticise the company under Bond he has got them to take a first generation fuel cell that had a host of problems in 2015, take it through a series of iterations to one where the electrodes are sufficiently robust to last well over one year and indicate they are capable of lasting for four. They now have a product within a redefined market. They can be switched off and on regularly without failing, as before, and the cells are less prone to catastrophic leaks, and at reduced cost. What we have not seen is evidence that these redesigned stacks work as well as hoped, and I trust that is not the reason for the silence. It always concerns me when the company go quiet. For a number of reasons I will be fascinated to see the next annual report - performance of the test electrodes, performance of the stacks with new flow plates, results of marketing and roadshows, the W2T business, finances, details of major shareholders, completion of the stack compaction press. Probably other things too, just some of the items that come immediately to mind.
Peter, I think the problems started when they began making the larger stacks, which was around the time Bond started.
BumbleB, my guess is AB was been told at the time it worked and yes it did, just not to the power output stated on the tin and that in turn must be the reason heads rolled, can't even start to think how let down he must of been feeling.
https://www.marketscreener.com/AFC-ENERGY-PLC-4006915/news/AFC-Energy-Signs-Milestone-50MW-Deal-with-Samyoung-and-Changshin-for-the-Commercial-Deployment-of-20003593/