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Does anyone know if this is Ricardo`s first contract win with the US military?
https://www.investorschronicle.co.uk/news/2021/03/04/ricardo-s-environmental-foresight-pays-off/
https://www.brightonandhovenews.org/2021/03/04/hydrogen-fuels-push-for-clean-energy-revolution/
Contra to the rest of the market, currently down 5%. Anyone got any insights? I can't see any news or trades hinting at anything being afoot!
@afcr - there is AFC
Ricardo get a mention.
https://www.brighton-hove.gov.uk/news/2021/hydrogen-revolution-sparks-action
Quiet board, but then again that's quite a good thing. Makes a change from shouty boards helping propel tiny start-ups to unfeasibly large MCs.
Gentle drift upwards here, justifiable as in green industries and against a SP almost double a year ago. Does anyone know of obvious downsides, such a pension fund in the red which is often a problem with long established industry?
Although the volume traded remains small, the sp seems to be in a positive momentum and the recent news good news about the hydrogen tech in which RCDO seems to be involved more and more , should keep it this way. We could do with more volume and a big player in the hydrogen industry getting involved with RCDO.
Mr. Shemmans is 54, joined Ricardo in 2005. Market doesn't seem perturbed by the change and maybe it signals a change in focus for Ricardo, already happening in fact. Great business.
Designed to support the company’s existing work in hydrogen, fuel cells and green alternative fuels, the new facility will deliver ‘state of the art’ test and development to advance capability in both alternative fuels and electric vehicles. It will significantly increase the range of hydrogen and fuel cell services and solutions which can be delivered to Ricardo’s global customers.
https://www.machinery-market.co.uk/news/29129/Ricardo-to-invest-%C2%A325-million-in-a-new-hydrogen-testing-facility
So same day as Frank Lampard gets the elbow from the russian gangster, poor old Dave Shemmans is pushed out of RCDO, or did he jump? Anyway not specially a fan of either move. Though don't know how old Mr Shemmans is maybe it is due. markets seems to have reacted in favour so does that make it a good move, good for greedy short termers maybe, will have to wait and see.
I suspect the trouble is that this is a long established proper company with history dating back to before WW2 (or even WW1?). I read somewhere that Ricardo had involvement with the RR Merlin!
Does make you wonder whether there is a serious bubble with some of these tiny fuel cell and other green tech companies which will end in tears.
Hopefully this news has put RCDO on the radar of the "green tech" brigade. They will invest in anything eco related, so maybe we can end up with a hyper-inflated share price! Not sure that will help the company, but such is life.
Yes i agree with you , disappointing the co has not come with a RNS re the joint venture with AFC but lets see what happens in the next few days. However the flurry of good news about RCDO involved more and more in the 2 industries that are red hot for investors right now, EV's and Hydrogen , should push the sp to much higher levels where is should be anyway !!!
Ok fellow Ricardians, am I missing something?
AFC issued an RNS today saying that it had signed an agreement with 'Ricardo' regarding fuel cell development. Was that the same company as this quoted 'Ricardo'? Both AFC and this share sharply rose today but, assuming this is the same Ricardo (I'm being serious here), this Ricardo didn't even think the news important enough to issue an RNS. Yet despite this, apparent minnow AFC with no revenue, no profit history etc currently has a market value more than double that of Ricardo - a company with a long history including with prestigious and exacting manufacturers as McLaren. Seriously did Ricardo split in the past resulting in this only being part or has the world gone totally bonkers?
Ricardo has been awarded funding from the Office of Low Emissions Vehicles (OLEV), through a partnership with Innovate UK, to investigate the use of innovative advanced thermal management methods to improve the performance and efficiency of the electric motors and power electronics used in electric and hybrid vehicles.
https://www.machinery-market.co.uk/news/28932/Ricardo-wins-funding-to-improve-efficiency-of-EVs
topsharepicks, would you have a date and reference for that article please? Thank you.
Ricardo leads consortium to establish UK supply chain for sustainable electric motors
The UK-ALUMOTOR consortium has received an award from the Driving Electric Revolution Challenge fund – through UK Research and Innovation – to establish a UK supply chain for electric machines: leveraging manufacturing expertise to deliver next generation sustainable electric motors.
As vehicle manufacturers look to accelerate the consumer adoption of electric and hybrid electric vehicles, the global market for electric motors is estimated to be worth £28.5 billion by 2025. It is essential, therefore, that key players in the UK electric vehicles (EV) manufacturing sector, supported by government, act now to enable the nation to capture a significant slice of this substantial growth market.
UK-ALUMOTOR, led by Ricardo with Aspire Engineering, Brandauer, Warwick Manufacturing Group at The University of Warwick, Phoenix Scientific Industries, and Global Technologies Racing, is a consortium of experts formed to develop a supply chain around an innovative proprietary design for an electric motor. The consortium’s aim is to grow UK manufacturing capability and develop the next generation of skilled engineers and technicians.
Thanks to the award, the consortium of six partners, headed by Ricardo, will develop and refine an electric machine design fit for manufacture in the UK, aligned to the future requirements of stakeholders both in this country and internationally. Over the nine-month project, the partners will identify preferred manufacturing processes, suitable for volume production.
This approach removes the need for scarce material resources associated with costly existing electric machines, whilst disrupting established supply chain monopolies. Through this approach, the consortium seeks to position the UK’s power electronics, machines and drives (PEMD) capability at the centre of the global electric revolution.
Richard Gordon, Ricardo head of research and development said: “Ricardo has long been known for industry-leading innovation, R&D and manufacturing excellence, which is helping global transport manufacturers drive cost of out electrification. This award of funding from the Driving Electric Revolution Challenge fund is significant. It will enable Ricardo and our consortium partners to continue to support the mass adoption of electrification by making it more affordable, contributing to the green bounce back with an environmentally sustainable design, and establishing the UK’s long-term future in this sector. This will position the UK at the forefront of the global electric revolution.”
The award from Driving Electric Revolution Challenge fund is the latest boost to Ricardo’s provision of engineering and manufacturing thought leadership for manufacturers in the global EV market: on 11 November 2020 the company also announced the award of funding from the Office of Low Emissions Vehicles to digitalize electric and hybrid electric ve
Yes i wonder why too ? This co has and is so much undervalued, i always maintained it is the automotive high perf sector that is dragging the group down. Lets hope they get more and more involved in the hydrogen market where the growth is expected to be phenomenal.
Some of the valuations of the major players in the hydrogen industry in the Uk defy all logic re financial parameters like sales, profit/loss , basic stuff really .But then again , some massive entities like, Linde, Bosch, EDF, Weichai, Snam , the Norwegian sovereigh fund and more are major holders in these co's along with super wealthy individual investors .
What RCDO needs is for a big industrial name or a very astute individual investor to accumulate a big stake like more than 10% , that will really make a difference
Simply elegant.
https://www.offshore-energy.biz/afc-energy-and-ricardo-team-on-hydrogen-fueled-power-and-propulsion-systems/
see my post earlier today??? AFC announcement this morning. Not sure why Ricardo did not make a similar announcement if a material collaboration.
Big rise today, quality business, medium-term future looking good. But why the big jump in SP today - news due?
I'd have a read of their 2020 annual report before pulling the trigger, I've had my eye on Ricardo for a while but wasn't savvy on the sectors they operate in, A&I is their largest, but that makes up 30% of their overall business. Rail and Defense look to be their biggest growth sectors moving forwards, the high voltage fast chargers they're trialling with western power/electricity north west are of particular interest to me as I was going to put money in plug power...and then they received a 1.5 billion investment and the share price skyrocketed so missed the boat. With a mkt cap of £150 million it seems like a decent punt.
Indeed. To me this is a top drawer engineering company with real track record dating back a century and currently with interest in green tech. Look at the market cap of the likes of recent green tech company ITM, many times that of Ricardo but unproven with nothing like the depth and turnover - and not a dividend payer like RCDO.
i agree about the cars business but again surely the fact that the likes of McLaren are clients says something - and this dreadful virus is now approaching being controlled so car sales will improve, if not perhaps to their previous levels.
But down again today at the close. I suppose younger companies maybe don't have any defined benefit pension fund deficit issues. But I still don't get it. Its almost putting me off that it seems quality yet cheap compared to its peers.
Rcdo produces gear boxes for Mc Laren and generally the high perf car market they are in , is dragging the rest of the company down which has been doing reasonably well. They did do a £50 mil placing recently which i was very surprised with but overall the co is in rude health with very little debt. The sp's performance is very poor considering RCDO have one of the best RD reputation in the high flying hydrogen industry !!! Very disappointing indded !!!