Member Info for Daz9643

I won’t be wasting any diesel going there.
It’ll be like watching a proactive interview with nobody actually questioning the atrocious performance to date and asking Bond if he’s comfortable with his salary and if it’s in line with his performance, not one of you I guarantee it will raise a single ‘awkward’ question.

If only I could give this a lmao emoji

We’ll find out from the accounts if the 100kW was delivered on time, it was delivered to the testing house in October, not to ABB, the RNS doesn’t actually state when the validation was received but why wait until the 29th March to announce such an important milestone ?

Normally when a company announces they are going to deliver a product they deliver it to the customer not to a testing house, it was meant to be delivered to ABB at the end of 2022 not March 2023

Interesting reply on LinkedIn in response to the AFC cracker.
What's the life expectancy of an alkaline fuel cell using un filtered ammonia, from our research it less than four years.

Oh so the brokers targets are not what they expect AFC to actually be valued at but just a value that they could possibly reach because of sector hype, interesting.

Thanks for your kind words Brettington, only those who are disappointed with their investment get angry and abuse others.

Sounds just like the strategic partnership with DeNora Bumble, remember them ?

Just throwing the rose tinted spectacles back over the fence. Notice you’re here too. Hypocrite.

It’s quite telling seeing that ABB haven’t announced anything regarding delivery and validation of the 100kW system even though it’s now public knowledge and the fictitious NDA lifted.

NDAs is an excuse that has been used multiple times over the years for lack of sales, it doesn’t wash any more, with all those fictitious NDAs from years past we’d have hundreds of orders by now rather than 8000 lease hours booked and 1 sales and development agreement. Fictitious NDAs give ammo to the happy club that everything is going well. It isn’t. Hence ABs comment when asked if things were going to plan - ‘I would say so, yes’. Hardly an overwhelming endorsement that we’re on the cusp lol.

Absolutely agree Oggs, there will likely be no mention of projected revenue which is a question I put to AFC during the lockdown AGM, the only downside is AB never gives you a straight answer.

"will now see a modular 200kW high power fuel cell system scheduled for first operation later this year, which will be followed by product certification immediately thereafter.
The 100kW was delivered in Oct and we’ve only now been told it’s been validated so potentially 6 months to validate so don’t expect the 200kW system this side of Christmas, and yes I am invested otherwise I wouldn’t be here.

Meanwhile, how are the power tower trials getting on, and where are those ‘expected commercial orders following the trials’ ? Oh yes, 8000 hrs rental booked…

The more I think about this the more I don’t like it. Why would ABB place a £4m order and then revise the order so they only pay half ? From the original contract, Bond highlighted this ‘Importantly, the generator will be able to utilise both hydrogen and ammonia’, in the latest RNS we have ‘Following completion of the upcoming 200kW S+ Series deployment, which will now be fuelled exclusively on hydrogen, and receipt by AFC Energy of relevant product certifications, ownership of the system (including battery) will transfer to ABB E-mobility.’ You have to question if Bond has any clue, one minute our USP is our ability to use ammonia and the next minute it’s not important. Some serious questions for the AGM.

The fuel cell generator is expected to demonstrate a market leading energy density from an anion exchange membrane fuel cell and be housed in a container approximating the size of a 10ft shipping container. Importantly, the generator will be able to utilise both hydrogen and ammonia (as a hydrogen carrier) as its primary feedstock.

Proceeds received by AFC Energy under the Agreement will total £4m. Of this amount, £2m will be payable upon the signing of the Agreement, with two equal remaining milestone payments receivable on validation of system performance. Proceeds will be used to support the costs of system development and testing, together with recovery of AFC Energy overheads and the system's overall purchase cost.

The 200kW system will be deployed at a customer or corporate location of ABB's choosing.

Very true DW, how long does it take to work with advisors to announce 1 order with ABB lol ?
What Bond actually meant was he was talking to advisors on how best to not trash the share price by announcing that after years of spin, on the glidepath to sales, on the cusp, accelerating to sales, 50+ order pipeline and growing, expecting to announce several multi unit orders, etc etc to then announce we have 1 £4m order, which is now £2m lol

Meant 2022 obvs

It does Hardboy because delivery of the system was in October, the 2021 accounting period, so AFC will have recognised revenue based on the delivery milestone, however that revenue is now half what it was but that’s a 2 minute job to fix, not a reason to delay the accounts by another few weeks. Bond cannot be trusted simple as that.
No wonder the auditors fees have gone up, going through all Bonds fiction in the accounts.

They e basically got their order for free.

ABB are not taking £2m in equity, they placed an order for £4m, that order will be delivered and they are only paying £2m for it, they are then effectively being given shares as well to the value of £2m. Great negotiating there from Bond, not !