RE: AFC presentation6 May 2021 07:36
I thought this was very much a meeting with two diverse outcomes.
The first was disappointing in that we all expected a big announcement whereas what we got was news of delays re genset replacement trials and probably a hiatus of 6 months as a result. The sp may stagnate in the 50-75p range through summer as a result.
But the long term outlook is fantastic. AFC clearly believes that it will be a big player disrupting many markets.....gensets, maritime, rail, data centres , EV etc. It can back this up with multiple partnerships, each directed to a specific market (Mace is a good example) £62m in the bank, estate for production secured and an expanding high calibre workforce.
Real revenue is a little way off, but it is the orders that will generate that revenue that will fuel the SP and those will be coming in much sooner.....I think I heard AB say this year.
AFC is like my nephew. Everyone was worried for years that he would not grow. Then eventually he did. He is now 6’4.
The caveat. Is that the high power density cell being developed this year actually works as intended.
So my view is patience this year and lift off next.