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Piller, what do you mean by immediate market? They said at the launch that the fuel cell systems would be available from JUNE ONWARDS, not now. The 20kW system is a small model that can be taken around the country for marketing purposes. So they need to have 160 kW models ready for sale and it was inevitable, given the state of finances, that money would be needed for this. See slide 20 of this link.
https://15xe332febdf3nmjvi2x5uu6-wpengine.netdna-ssl.com/wp-content/uploads/2019/12/AFC-Energy-EV-Launch-Presentation.pdf
As for the length of time taken to develop fuel cells I suggest you look at the long lead in time for other companies. The fastest I have seen was 5 years for GenCell, but they bought existing technology from other sources, such as the eastern block, so the development time was really longer.
Thank you athansius you have got my point. Yes bumble I do believe we possibly have a stack to go with, but when the first news release after the investors day is someone wants a 160kw. Not what Afc has produced for the immediate market. It’s here we go again, not what We keep getting promised the same as his other promises. Yes we are all in the same boat I know, I’m not expecting news every week I know there’s alot of work going on in the back ground.
Just wish the board could see what they are doing to there loyal and future investors.
BumbleB, aren't you making Piller's point for him? When he says perfected I think he means developed to the point where it is commercial ie can be sold. No one is suggesting that future development will not be on going. Piller's point is that AFC has been saying for years that it is about to go commercial when clearly that was not the case; it was misleading spin on the back of which many invested. Ian Williamson told me personally in 2012 that by 2014 he expected to be selling MWs. AB told us to expect 1 GW by 2020. Yet here we are, only now hopefully on the cusp, but yet to sell anything.
Let's be honest....well over a decade to develop a stack that can be sold is daft.
The above said, I truly believe that we are there now and able to sell (or do we need still to develop the 160MW offering); that plus Alkamem makes the rest of this year potentially very exciting for the SP. I only really care about the SP.
Piller,
If you want to see a perfected stack you will have to wait for a good many more years because there will be a process of improvement and evolution as time goes by, much like the I-phone. However we have a stack that is good enough to go commercial in this country for a particular use and that has a sales team trying to sell it. This is a not inconsiderable achievement given that the UK was way down the list of countries where the first commercial models were likely to be sold a few years back. It is a brand new product so I would have thought it would take a little while to sell the first model or two. In my book that makes them commercial, just beyond the cusp.
There are a lot of nervous and impatient investors around, and as we know, some fake investors associated with Tom W. aiming to make a profit by exploiting those impatient investors - they stand out like a sore thumb. However the company could help by using the blog to give an update of what has been going on, particularly with demonstrating the small system since the last open day.
First of all it’s not the tech, second it’s not their aim, third it’s not their lack of ability or drive.
Afc Energy has the potential. Massive potential which everyone is aware of, that’s why people are happy to throw millions at it. They have all the right people with the best experience we could hope for and connections in the industry. Testing and research we have 10+ years of it, so no issues there.
My issue is we are a fuel cell company with 10+ years of research, design and testing and still haven’t perfected a stack. Everything else is an add on. Like building a superior engine then having different body’s or applications for it.
My second issue is then being told MULTIPLE TIMES, which is all in black and white over the last 5 years by Adam including interviews. We are on the cusp of going commercial , the big push into the market. Every Year since 2015 at least. This is what is so aggravating and I suspect for a lot of long term holders like myself.
When I first invested it Was really a punt into a research company, as the years have passed and the tech has advanced and I’ve ‘funded’ on the promise of progression to commercialisation , we’re are we now? Going around and around. No better with communication which we have been asking for for 5 years and Adam said in his first news letter as CEO. He Knew it was an issue and stated to resolve it.
We don’t have our engine..... But we might be able to sell some parts"