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Remember this when you vote in the EU elections and it is on topic.
https://www.energy-storage.news/news/anger-as-uk-govt-proposes-15-tax-rise-for-solar-storage-purchases
I can hardly believe what i was reading.
The longer there is no need here the further it will drift down. How long will the cash raised last before they require more. Not looking good to be honest
Yes it's small, but that is the problem. Everything is small - one farm, one hotel... The only thing big has been board room pay.
The rest is just talk and excuses. Germany, Centrica, Oxford... all talk to get fund raises. They struggled to get 2p away last month and we are already ~25% below that.
No indication to anyone that things are progressing with the review. I wonder if it really has started yet.
Maybe it is like Brexit, a lot of pre-ambles and flannel, acrimony, nothing decided, then adjourn. As someone said, the money is running out fast.
Don't think it matters much as it was such a small part of the programme. Don't think it would sway potential purchasers.
Strange......at last years AGM Scott was not comfortable discussing “small” scale orders....such as farms,airports,etc
Hopefully, we can come to some sensible arrangement for these smaller potential clients!!!
I think we would all agree, large volume orders help, as we can produce at improved costs....but we can see they take their time in coming to fruition!!
PC
To save you searching go to 33 minutes.
Here's the link
https://www.bbc.co.uk/iplayer/episode/m0004psh/countryfile-spring-diaries-series-4-episode-3
Just a snippet.
coverage this morning shows Redt (Scott) with units on a farm.holding solar.
the only IP is in the stack and there is nothing magical about RED's - the much flag-wave-fund-raise steps to Gen 3 have demonstrated nothing of value.
There is nothing to buy here that has any demonstrable credibility - at every turn Red has failed to get proto's out for free to gather real world data
My view on the situation (rightly or wrongly : HOPELESS!.
I do not think we will,(should!) get wind of the outcome of the strategic review!
Having completed a number of SWOT analysts in the past all at board level, these details were guarded with caution,given the sensitive nature of the content; not revealed outside of the board for a period of time.
My thoughts would be an internal review going on with likely outcome announced once any change has already taken place. Be it change of owner or policy direction!
We can only sit and wait this out, sure to have some news of sales soon!
PC
I am not sure whether this news is good for Rest or not. Cellcube is working with Hive energy and Immersa on a consortium basis in the field of solar and storage. Interestingly Hive energy are involved in the huge solar park in Kent that has been mooted as a battery storage site. htTps://www.thechestnutpost.com/news/cellcube-immersa-and-hive-energy-building-green-peaker-plants/
@ScoutS .. yup ! .. I came to that conclusion 2 years ago ... just failure after failure after failure to deliver anything except more fund raises.
I had my run-ins with the RED evangelist Blogas but even he turned more than a year ago - you can only get behind it all for so long.
Scotts departure I fear spells the end of RED in the not to distant future and I would not be surprised to see a swallow up/buy out (very possibly a German OEM) but I would not hang a hat for a lot of value. Current MCAP is around 16.5M and I doubt there is that much intangible value.
I keep watching as should it all get together and look like flying, then I may punt a few grand, but right now ... dead in the water
You could be forgiven for thinking that, with the recent surge in climate pressure events and thinking, companies like RED would be ripe for massive investment or takeover. All renewables with storage must be high on the radar.
The Anglian deal is still alive but they are having non RED planning issues that will be resolved but its taking time.
Puerto Rico Will Stop Burning Coal Next Year
https://futurism.com/puerto-rico-stop-burning-coal-next-year/amp
PC
So Scott still got his nose in the trough then. Jeez does he want to milk this completely dry.
TSE ???
Didn't he say he is stepping down from the Board? That doesn't mean he can't be CEO does it?
Don't knock him - at least he posts some news
Mr. McGregor needs reminding to amend his Twitter Account !!!
https://twitter.com/Scott__McGregor
Interesting that he still is claiming the position of CEO!
Thought Scott had left, RNS 14th March :-New Board Leadership
Neil O'Brien, previously a non-executive director, has become Executive Chairman and will lead the Strategic Review. Jeff Kenna has stepped down as Chairman but will remain on the Board as a non-executive director. Scott McGregor has stepped down from the Board but will remain with the business to run the operations.
https://twitter.com/Scott__McGregor/status/1118084683164729344
Thought Scott had left !
Valid acceptances have been received from Qualifying Shareholders in respect of 56,149,414 Open Offer Shares together with applications for a further 47,383,382 Open Offer Shares under the Excess Application Facility.
They were taken up by existing shareholders, however the 3 large investors didn't take up any so probably small private shareholders took them up.