Member Info for Bondy123

It’s acceptable but only for 50% of it. The other 50% of it is based on relative performance vs aim. This is some protection against macro factors keeping all aim shares down, which I think is fair enough. We all know how much the market can drag the SP, so the index vs the aim share index is fair in my view.

Totally fine with this grant. If the SP is at excess of these levels by 2025, which is after that £40m we have in the bank is likely to be gone, they would have had to achieve something pretty substantial to have the price at those levels. A substantial fundraise would also be required inbetween now and 2025 so I imagine they’ve factored this in. Also, it’s good for Jim Gibson and AB to have skin in the game. For me it’s a positive sign. Like how they’ve set the expectation to exceed the aim index too.

Euston station seems the most likely place, judging by mace / dragados news . It’s good to drip feed this news for the construction industry rags to pick up, and ultimately the lease companies who will purchase these and see this particular project as potentially lucrative.

Even something as simple as, ‘hey guys, enowa is a global leader in green hydrogen production. so we wanted to show our support’. Instead we get some vague lines from AB and the company which always the way. Anyway. That’s my last post on that. Let’s hope for a good week.

Ok, alt fair point, he does and should turn up to the event but if all he comes back with is delivery of the cell for another race and a few quid or worse, nothing for giving up the branding on our fuel cell, than you surely agree that is poor.

I’m not trying to get on the back of the company, believe me I’m not, I just want more transparency and more evidence of progression. Glah.

I would love to think Sturmtrupper is right too. There must be an explanation this week, and a proper one at that. It’s not good enough that Afc could be given a few quid to put another company’s branding on to our fuel cell. We have spent over a decade and invested our cold hard cash getting the company to the place where it is at - that fuel cell is not a billboard - we’re not being paid enough by extreme e for it to be that. Even if enowa offered £100k, £200k for the advertising space, would you take it? I wouldn’t, we’re not trying to be an advertising company, we’re trying to sell fuel cells.

If it is anything other than a substantial partnership announcement I would seriously question what the hell AB is doing and whether he is in fact having a jolly trying to appease others (exe, enowa) without negotiating a proper return for us shareholders and the company - and this would be reflective of his performance to date. I hope this is not the case. I personally would rather pack up the fuel cell and take it home than having nothing to show for it, than I t be used for advertising money and I’d hope most would agree with me here. We have £40+m in the bank and need the advertising ourselves!!!!!!

Watching this space with interest.

Whatever you do don’t say AB goes on jollies.

Mucksy, I’d imagine that’s what it is, but do they deserve to take over the branding of our fuel cell for the pleasure?

Monday, perhaps? We’re definitely owed an explanation here.

Maybe part of the new lease terms allowed for Extreme E to use the giant L system’s as a billboard to promote Extreme E’s partnerships, and it has nothing to do with a partnership with AFC at all?

I initially set out to post this as a joke. But as I wrote it, realised I wouldn’t be surprised if it was just nothing but an allowance of some sort. Let’s hope it is something substantial. I certainly would be pretty cheesed off if this has been given away without something extremely substantial in return. The vagueness is irritating me and I hope AFC care to clarify to us sooner rather than later, I’m expecting an explanation about why our fuel cell has another company’s branding on it, which I don’t think is an unreasonable ask as a shareholder who believes one of the best perks of having the exe partnership is the marketing opportunity.

Actually ‘do we have product market fit?’ Is the EXACT question that is pertinent right now.stating you have a product doesn’t mean you have product market fit (I.e having a website). The very fact that we will be deploying for what will effectively be trials mean Afc / it’s clients are exploring the whether we have product market fit for the products listed on the website. We will know it has product market fit when someone buys more than one of them. @annowl - a very relevant post and the bits about honesty and vaguenes are eerily familiar.

Garonne, you referred to acciona and keltbray deliveries “ If this occurs in the next few trading days as expected then I think the SP will respond positively”. Whilst I certainly hope it does, I can’t see it, I think you’re expecting too much. I don’t think it is currently a market that rewards this type of thing. The external (to Afc) conditions are extremely harsh, and now on top of all of that our domestic political scenario is now also in turmoil. This will move when there is a contract for sales, and only at that time, until then it will be largely driven by the broader market (up or down). I think there is still a long way to go in the current (sorry) negative cycle. Inflation is continuing to rise, so interest rates need to be put up, but if that happens, we go in to a recession. If they don’t put it up people will lose confidence in the UK which affects our currency and a whole lot of other problems crop up. All this has to play out. This is not a slight on AFC, they could very well prove their product and start sales, in which case buying while the prices are low and on bad days could very well be a great opportunity’s. I personally would not expect something in the next couple of days to magically put this back on an upward trajectory, but that is simply my opinion. I make wrong calls often like topping up at 41 and then more recently 25p! Glah. This will require patience, at least 6-9months of it. Imo. Dyor.

Wondering what people think about EV charging, and whether this is a product that will likely take off once the Ammonia product is finalised? My thoughts are that the space that hydrogen cylinders / storage requires, along with the safety concerns of transporting hydrogen, that hydrogen might become an obstacle, not in every scenario (i.e close to a source of hydrogen supply) but particularly for off grid scenarios, and therefore one of the other flex fuel options would be best 'green' ammonia and methanol as and when it is available?

My thoughts are that to be practical, the whole thing would need to be relatively low footprint, now that the power tower itself can deliver on that, but with regards to the fuel, the more dense the fuel supply the better? Otherwise these off grid refuelling stations could start to look like mini gas stations?! What are peoples thoughts here?

Amusementnow, my understanding is that the methanol system would need to be available for a government contract, this is what the army seemed to be interested in. No doubt when the methanol system is launched, it too will have to go out to trial, we would need to await feedback and all being well people will commit to orders.

Currently, it looks like Afc will make £4m this year. That makes AFC’s market cap 37X projected earnings for this year.

What worries me is due to the markets, volatility, and AFC’s status, which is that it is a company sending out trial systems to market, for which we won’t have data for several months, the next ‘several months’ could be very choppy. It is not out of the question that the market could drop this to 10/20x earnings which is still a big multiple in earnings, but that does make 8p not out out the question. I’m not saying this because I don’t believe in Afc, but because the macro environment is such a terrible one. You only need to look at the sharp decline of everything else, upcoming earning seasons, recession, inflation etc to realise this is not out of the question. The velocity at which this is declining is alarming and most of it is out of AFC’s control.

I’m not sure delivering units that are known about will have a material effect on the SP, whereas results might, and subsequent contracts most certainly will. I’m sure Afc has a chance of delivering and achieving subsequent contracts, but we may all need to be very committed and loyal investors over the coming few months. I hope AB has some cracking left field commercial success contract to slap on the table but I’m not sure where it’s going to come from considering the stage of the product lifecycle we’re in. Holding long and strong, but nervous. Glah.

Do it so we can see what happens Seg! Lol

Alt - I think the RNS was clear that the 'front end' of the commercial opportunities were lease opportunities which were likely to deliver modest revenues. 'Sales', i.e someone committing to buying more than one AFC unit still seems like it is at least a few months away, would you agree?

If these units work in the field, and if the construction companies / lease companies deem AFC to have 'THE' product, then yes we could be in business for sales by end of the year. Yes, an initial sales order would lead to a sustainable rise. But we need to deliver first!!!!!

To be fair (and whilst I don't condone calling critical posters 'con men'), it doesn't look like any more than a sector drop today. AFC is still in the same situation - need to deliver the fuel calls.

Cash position is one of the positives although by October next year they will have less than one years’ worth of cash left, so success of these trials and conversion in to orders is absolutely critical. There’s no point thinking about data centres and maritime, we have to start turning revenue from construction to survive.

Do we think they will hit £4m by October? This is the expectation set out In the Zeus report.. currently I count
£280k +
£2m deposit Fromm abb
£1m next milestone (if achieved this year?)
Acciona / keltbray / kier leases - £720k?

This is the only thing that matters right now. If they fall short of the £4m it’s going to be a problem for the share price.

AB has officially missed another set of delivery targets he only reiterated a couple of weeks ago.

MEH.