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Sky News BB

We were told the 2 equity raised in January were for -
To this end, the net proceeds of the Subscription are expected to contribute towards the manufacture of AFC Energy's largest EV charger unit with a nameplate of 160kW to support demonstration and commercial activity in 2020. This new system, capable of delivering up to 3.8MWh of clean off grid energy per day, will sit alongside the existing 20kW EV charger system launched in December 2019.

Yet we are now being told manufacture will not be going ahead to preserve cash, so Adam, did you tell a few porkies and actually the fund raised were actually to pay your salary and ongoing costs ? You told us you already have raised the money to build the 160kw nameplate system so get on and build it.

AM the problem is AFC have a habit of spending years designing something to then find out nobody wants it, take for example the MW plant installations, spent millions and years on design and then found out nobody wanted it as due to the subsidies industry receives their electricity was cheaper, you couldn't make that one up !

i found this wording a bit odd -

Q: How can the Company be clearer in its Public Relations activities and what role does TUVA play in delivering on the Company’s communications strategy? A: The AFC Energy web site and our annual report, together with RNS releases, at the appropriate times, are our principal form of communication channels with investors and have all been enhanced in recent months. We endeavour to continue those enhancements. At the same time, strategically we have elected to increase our communication and marketing to key stakeholder groups, specifically Government agencies, trade associations plus customers which often goes unseen by our shareholders. This marketing strategy has delivered several new enquiries which we are working to deliver a commercial sale.

why not commercial sales ? maybe irrelevant but it makes it sound like they have one opportunity.

Also this is the first time we have heard health and safety used in communications as a delay to sales.

And we hear that the diesel genset is now more likely to generate sales due to the government regulations changing.

I still think there's lots of positives with the tech but oh boy there's always new hurdles to get past that we haven't heard before.

Surprised that only 10 people submitted questions ! At least all mine were answered although answered by not being able to give answers ! At least the market seems to be happy that's the main thing.

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that at its Annual General Meeting held earlier today all resolutions were duly passed. The results of the proxy voting together with responses to questions submitted at the AGM will be available on the Company's website in due course, www.afcenergy.com .

The AGM will be held at 12.00 noon on 23 April 2020 at AFC Energy's offices, Dunsfold Park, Cranleigh Surrey GU68TB.

for anyone who has not taken part in a live webinar it was fantastic, people joined on the web, on facebook and I joined via Zoom, Zoom has the option to raise your hand or click on Q&A where I put my question, at the end my question was read out and answered, it worked seamlessly, it would have been so easy for AFC to have done this.

I've been working since 7 when I rolled out of bed to work on project managing a E550k project for an order we received last week during lockdown, the person who issued the PO to me did it working from home, I then placed 5 orders on suppliers who are all working from home all with some skeleton staff doing manufacturing, since work on this project started last year we are still on schedule for delivery over the year as all manufacturers are finding a way of working. We have also received orders from universities, again from people working from home, amazing this internet thing isn't it ?

I took part in my first live webinar yesterday, it was about the link I posted yesterday -
“This innovative project is one of the first of its kind in the UK,” explains Councillor Josh Schumann. “The success of this scheme could be replicated at park and rides across the region, paving the way for sustainable transport solutions of the future.”
Solar panels powering ev charging bays, no fast charge as most people would be parking for the day while going to work.
Initially they are looking at 4 bays but increasing as demand rises, someone asked about selling excess energy to the grid and the answer was that they were not sure if it would be grid connected, I then asked if a driver was relying on having their car charged but there was insufficient capacity from the solar panels and the back up batteries, have hydrogen fuel cells been considered ? This totally baffled everyone and twice they asked if the question could be repeated. The answer then was that in the event of some failure grid power would be used as backup. It's clearly in the early stages which is a great time for a company like AFC to introduce their solution. As I've said before, people understand solar panels and batteries, they don't understand hydrogen and fuel cells, it sounds a bit sci fi.
Take the ev charger to town centers, London, Manchester, Liverpool, set it up and let people charge for free, get in the local news, get in any news !

For me I am starting to think that AFC just aren't big enough and therefore don't have the money or a big enough team of people to compete with the big boys. I was initially excited by the alkaline fuel cells being cheap as they don't use platinum but that seems to be the only selling point, there are now over 70 fuel cell companies in Europe alone plus we are now also competing against big players coming out with alternative solutions.

At the forefront of renewable energy investment, the Council and Bouygues E & S Solutions Limited are developing a 2.5 MW solar car port scheme at the Babraham Park and Ride, located in Great Shelford Parish just south of Cambridge, which will include battery storage and electric vehicle charging.
Cambridgeshire County Council is working alongside its partner agency PECT, the environmental charity, to deliver an awareness campaign on social media, with a series of online events about its Babraham Road Park and Ride (CB22 3AY) energy project this April and May. The aim is to offer opportunities for local residents, commuters and businesses to feedback on proposals to develop the site into an innovative solar car port canopy with battery storage and electric vehicle charging.
“This innovative project is one of the first of its kind in the UK,” explains Councillor Josh Schumann. “The success of this scheme could be replicated at park and rides across the region, paving the way for sustainable transport solutions of the future.”

Please Adam don't mention first mover advantage at tomorrows AGM

FuelCell Energy has begun operations at its multi-megawatt SureSource™ 4000 fuel cell project in Danbury, Connecticut.

The plant is designed to deliver 60% electrical efficiency – a performance level comparable to large-scale gas turbines but cleaner.

Power generated from the SureSource 4000 power plant is enough to power approximately 3,700 average sized homes and required only 10,000 square feet of space.
Other companies are out there getting sales in our target market, we were told this market isn’t suitable due to the lost cost of electricity.

Twitter headline is delivering unstoppable momentum. So far this year they’ve issued 3 tweets, 1 of those was announcing the sky news interview that got cancelled. I sincerely hope we don’t pay them a retainer.

I will tell you this though,
I have always been honest with my shareholding’s
I’ve never insulted other forum members
To date most of my criticism of AFC has been validated, mainly where are the sales ?
I do have good days and bad days in terms of my investment here and I applaud the eternal optimists but if we all were who would hold AFC to account ?

Tell me aimmillionaire, I’d love to know what game you think I’m playing

I'm not expecting anything more than the standard, all resolutions were passed.

Financial projections ? Hahahahaha
We’ve never had any ever but I can tell you how it goes,
This year no revenue, £4m fund raise
Year 2, no revenue, £4m fund raise
Year 3, no revenue, £4m fund raise

Yet they have an unused finance facility they could have used without dilution that AFC paid several 000’s setup fee. Surely this would have been the ideal time to use such facility ?

Entry into the high growth Electric Vehicle (“EV”) charging market with the successful demonstration of CH2ARGETM prototype - the world's first electric vehicle charger based on hydrogen fuel-cell technology - still no sales 12 months after entering market

Signing of collaboration agreement with Rolec Services Limited (“Rolec”), Europe’s largest EV charge point manufacturer, integrating AFC Energy’s CH2ARGETM system into Rolec’s charge point customer facing infrastructure - no longer happening

Concluded initial engineering in advance of finalising detailed terms for supply of a fuel cell system into Southern Oil's Gladstone Refinery - so it's taken a year so far to finalise the terms for supply ? no wonder it takes so long to get any sales.