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Southern Oil isa subsidiary company to Northern Oil.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AFC/13714741.html
"delivered to Northern Oil’s Gladstone facility"
I think we are talking cross purposes BB I was referring to where it was going.
Also interesting
http://www.ausfutureenergy.com/gladstone-energy-and-ammonia-project/
Yes, that is also nothing new Chippyjo. We know it has been held up. Redesign of the Southern Plant has been mentioned by Bond before, possibly with a reduction in the amount of hydrogen required. What is also clear now is that those larger systems are not ready or use until mid next year at the earliest.
The fuel cell system is expected to be delivered to Northern Oil’s Gladstone facility in the first half of 2019.
AnneOwl, the deal was always stated to involve sale of the Balance of Plant with AFC leasing out the stacks. Nothing new there.
“ reflecting the capital cost of the balance of plant and lease fees towards the cost of the fuel cell electrodes.”
“ Subject to a final agreement on all commercial terms, AFC Energy will sell and lease components of its generation system for an undisclosed sum”
At what precisely chippyjo?
A great find Chippyjo, so the plan is that the electrodes are leased so avoids the need for warranty
BumbleB ....But they mentioned the Dunsfold project in the new website ....which we know is still along way off....but I found no mention of Southern oil...
The important thing is they concentrate on the quickest route to revenue and they do appear to be doing that. Longer term I’m not sure what the most lucrative will be for them - big numbers are quotes against the membrane but is this small fry to installations such as Southern?
Every RNS has referred to the company installing systems in industrial gas plants, which I take to mean Southern. Bond has been clear that the target remains the ev charger in December. I am not expecting news on Southern until a later point.
As far as I can see, the whole Gladstone project has slipped in timescale anyway. It may just be a matter of time before we hear what the deal is. If you look at the corporate objectives and the information put out, I doubt they have decided against the fuel cell.
Heath23 ...You are of course correct and something may well be happening with Southern....but if there was good news happing with Southern I am sure it would have been announced by now ...
Sharesport ... Which strategy are you referring to?
Sharesport - the deal was done while they were developing the S cells and membrane (in the last 24 months) so I’d say the strategy hasn’t changed
One thing we’ve recently learnt is that no news doesn’t necessarily mean there is nothing happening!
Just a thought on southern - was this contract before or after the change of strategy.
Without news from AFC or Southern on the deal you have to draw your own conclusion ...if part of our recent news flow bears fruit we will not be so concerned with Southern.
true Daz. We may have been told halfof the story.
Hope its not a slim deal when it happens Jimiam :)
That’s not what we were told though Bumble, we were told the delay was down to Southern redesigning their plant
Regarding the Southern contract this is unlikely to be confirmed yet because the liquid systems of suitable size are not ready yet. The L180 is forecast to be ready by June 2020, whilst the larger L400+ will not be ready until June 2021.