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in the proactive interview Adam did this week he intimated that every part of the business had been operating as normal. Can only assume that AFC understand the importance of the CE marking and the relevance this may have in respect of sales.

Having already frozen the design last year and having the product ready early this year I would expect there to be very little work left to do to get the approval.

I would imagine that AFC engaged a NoBo sometime ago and now it is in the closing stages.

Really can't imagine AFC technical or quality manager is not all over this trying to get the certificate of conformity

What is good is that when the article was released it was in the process of CE marking. That was 4 weeks ago.

General consensus is that CE marking is 6 to 8 weeks dependent on complexity.

Well that article was 4 weeks ago. We don't know how long it has been in the process for at that point. Maybe 2 weeks. That would put it in the 6 week range now.

Not long to wait.

Agusta, many thanks

No, I had not read that before. Also interesting that it has been the subject of many HAZOP'S.

CE marking will be applicable to the scalable 20kW fuel cell. As it is scalable CE marking will apply to any configuration. The EV charger doesn't belong to AFC. It is effectively a bolt on. This will be with Rolec.

Does sound like CE marking is what may be holding commitment back. If the design has been reviewed, the equipment manufactured and tested under witness, the manufacturing procedure specified and compliant with the CE standard there will be nothing standing in their way.

Can't imagine that they have taken the 20kw on a road show from south to North without being sure that CE marking was just a formality.

Could be the best news we hear.

Agusta. Where have AFC mentioned CE marking. You suggest they nearly have certification, I was looking for this information a day or two ago and found nothing.

Can you post a link please?

Many thanks

AFC claim to have had buyers on the hook for sometime. Regardless of COVID-19, life still goes in for the majority of people and I would ha e thought by now a sales would have been completed. 500 potential customers where met on the road trip.

And not one has signed a deal, not even for one fuel cell system. Not one ?

Tick tock

You may have to copy the article as the link does not work.

Thanks

Feeks, actually that should be final results. Released last year on 28th June. I am not expecting much in regards financial performance but a forward looking statement should be interesting reading.

looking at the RNS from last year I believe towards the end of June. So potentially within the next 2 weeks.

Great work Feeks. Fingers crossed.

I believe interim results are also due shortly so maybe a positive on other elements as well.

Good points, can't argue with that.

Thanks for clarifying

I am not so sure

'A broker note dated May 2020 noted fair value for the company to be double the present value, but also noted the very significant upside potential of these innovative products'

The article was written in June 2020 as it talks about the acciona deal.

'It is notable that, following this deal, the in-house broker withdrew their target price in order to review. It is also notable that their previous target price attributed no value to Alkamem or to the solid fuel cell'

We did not see a broker note in May, because it sounds like it was withdrawn. Since then we have had Acciona and now they are considering the value of Alkamem and the solid cell.

When the broker note is released, if its before news I think 50-60p will be very conservative based on the withdrawal and additional deals and considerations.

It all means nothing unless its achieved.

De Nora completed independent testing on Alkamem. It is an AFC product. Reading the link to the Thyssenkrupp electrolysers you would have to take from this the potential of a licencing or partnership with De Nora to utilise the membrane in the electrolysers they have in partnership with Thyssen. If Alkamem exceeded expectations as suggested by De Nora then why would you not incorporate this in your own product.

Maybe reading too much in to this but we are all looking for clues. Here is hoping that this is AB's way of telling us something without actually telling us something

*Agusta. Sorry, predictive text.

Its the most positive article I have read for a long time.

May broker note released in May had price target double that of todays value. So we were talking 55p ish.

That has subsequently been removed after the acciona tie up and the solid fuel cell development and move towards shipping and locomotive. Also to consider Alkamem.

So that considered, what value will the broker note asign if 55p was removed to raise the target upwards. I am guessing 80p to £1. Which is a conservative estimate given the value of ITM and CWR also recognised in this article.

How much longer before we get just one price changing piece of news ? I cannot believe it is far off.

August, great find.

Did you write it ?

southernhay. I think AFC may already be on to that. They have mentioned shipping and locomotive for the high density cell previously.

Feeks. Great spot.

Good afternoon TruroTrader, Really appreciate your response.

Yes, with a £5.9m profit on 779m shares that equates to 0.75 pence per share profit approx. Even 0.1p dividend would be a positive gesture and would not cost a lot as you have said.

Also agree with your other comments. My initial impression is that since the renaming and branding TPG seem to have a refreshed vision and making positive strategic acquisitions providing a broader product and service range. The cherry on the cake was the realisation that an existing product would fit nicely into a highly exciting sector of hydrogen production and renewable energy.

With the acquisitions i am assuming that the aim is to incorporate the seperate businesses within the group and provide some economy of scale and not only increase turnover but also retain a greater profit from those businesses they had realised prior to being bought by TPG.

This will also raise the profit per share, share holder value and hopefully the value of the business reflected in the SP. They appear to have a revoving credit facility which should mean no further dilution of share capital when looking to raise funds. However, they have had a healthy balance which has been reduced from the purchase of Sapienza. In the short term, additional revenue and profits should be realised from these and replenish the war chest a little ready for the next aqcuistion which they seem very keen on.

Really can't believe a well organised business like this has been under the radar and out of favour. Thank god for hydrogen production and jumping on the band wagon. No harm in that if it attracts the market.

Some larger trades going through today. All below the 5p level but none the less its good to see consolidation at this level. Can't imagine they are day trading this. Volume and spread are currently too low and too wide to accommodate. Looks more like position building.

Already passed yesterday's volume. Positive sign that interest in TPG has been found within the market. And the volume is also pushing the price up not down.