Member Info for Daz9643

Evening Bumble, I was actually looking for info where they mentioned about the De Nora tie up and how well the computer modelling was working and we are making great strides towards 4 year longevity but I couldn't find it. The 2nd post at the end mentions we are ready to move from proof of concept to commercial production status, that indicates to me that final designs have been signed off, I've warranties and we are now looking at volume manufacturing.

This is my first Chairman's Statement for AFC Energy, and I am delighted to have joined the Company at this critical point in its history. Three years ago, AFC Energy outlined a plan that would take the Company's technology out of the lab and begin the transition into commercial production. I am pleased to state that this plan has been accomplished and that in 2018 the Company expects to see the initial commercialisation of our energy systems through engagement with key customers.



Back in 2015, our plan required an initial scale-up of AFC Energy's fuel cell system and delivery of a 240kW proof-of-concept power plant; the development of a Generation 2 fuel cell system that could deliver over 1,000 continuous hours of operation; and the preparation for commercialisation of the fuel cells through automation of manufacturing and collaboration with partners.



Today, with the support of our key strategic partners such as Industrie De Nora ("De Nora"), these technology milestones have been achieved and the Company stands ready to move from proof-of-concept to commercial production status.

To this end, when commencing at AFC as Chief Executive in December 2014, I set myself four targets to be delivered within the first quarter of 2015:

1. Re-establish clarity and focus on the timeline for execution of the POWER-UP programme at Stade and deliver on the 101 fuel cell stack;

2. Obtain our first building permit at Stade;

3. Execute an agreement to deliver AFC's first commercial fuel cell project before the end of March 2015; and;

4. Re-engage with institutional investors and the private client broker community to reinstate a clear business plan and objectives for the Company over the next 12 months.

I'm pleased to say that we've now achieved each of these key objectives. The next 12 months (and indeed the next quarter) will no doubt carry a number of challenges in meeting a highly aggressive deployment programme, but as ever, I remain confident of success.

those are the numbers i've used Notes, the only numbers i don't have is the tax credits.

thanks Notes. So where's the error in my calculations below ?

Funding will be an issue again soon, AFC really do need to get a move on, they cannot sit back and wait for the EV charger to be ready by Q4, we need big news before then.
Fag packet numbers - 31 Oct 2018 - cash of £3.4m + 800k grant of warrants + £1.06m subscription = £4.46m
minus cash burn of £420k p/m to end of July = £3.78m leaves £680k by end of July, so 1 months funding !!!!!!!!!!!
So we will hear very soon that we will use £500k from the loan facility, that gives us 1 more month but then we can't receive the next £500k for 60 days so unless we have revenue that hasn'r been disclosed we're FCUK'd

I'd missed that Piltick, so the current plan is to use expensive steam methane reforming which will impact sales, once we have the charger ready we wil then have to wait another few years for the new hydrogen technologies to emerge before our charger becomes economically viable.

mentions that they will be talking to the transport committee though which could be interesting.

unfortunately the tweet doesn't make a lot of sense as you've missed off the 'The UK government is planning....' bit, oh well at least you're trying and it shows there is still some activity going on at AFC somewhere.

*should include

IMO when the EV charger is released in Q4 it will be the first time in 12 years that we have a finished product for sale that doesn’t require an engineering study each time we get a sale, it there is a market for it as AFC keep telling us there is then the product release RNS shouldn’t include announcements of sales, if it doesn’t then we have been strung along yet again with false promises. If all is good and TUVA pull their finger out then a re-rate is inevitable

The AFC demo didn’t show the fuel cell, gave no technical details, basically it was a pointless exercise and got very little media attention, in fact, I could have done just as good a job taking my garden hose out of the garage and hold it next to the charging point on an electric car.

Yep, so much for our first mover advantage, seems more like last mover failure. AFC are being run (managed I should say), by a pensioner and a highly paid snail. 12 years in development, while AFC talk about what they are going to do, companies like Siemens get on with it and produce the goods.

It always seems very hit and miss to me over what gets reports on AIM

Their % share has gone down because more shares have been issued, it’s the same for all of us shareholders but because we don’t own over 3% we don’t have to declare it

Isn’t that just because of the recent dilution?

Our manufacturing agreement with Advanced Plastics will enable us to commence the ordering of flow plates for full system deployment. See coverage of yesterdays announcement in Gasworld! Feels like this really is it this time, fingers crossed

We all take AB’s comments with a pinch of salt these days I know, at least we also heard from the Rolec chap who said in a few months ;)

Except we’ve just had confirmation we will have our first ever commercial product for sale in Q4 this year

Sounds bloody amazing ;) -

https://www.proactiveinvestors.co.uk/companies/news/211982/afc-energy-closing-in-on-launch-of-first-commercial-fuel-cells-211982.html