George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Too right. Good chat on AFC and the Army last night only to be drowned out by BS
Major General Simon Hutchings on Instagram:
https://www.instagram.com/p/CVaeYK3snIU/?utm_medium=copy_link
“… the game changer will come with ammonia powered fuel cell. AFC Energy is leading the way.”
And this one:
https://www.instagram.com/p/CWz8yA7sAd2/?utm_medium=copy_link
“Not long before we host extreme e … an opportunity to showcase the army’s land vehicle electrification programme alongside the odyssey vehicles”
Totally agree iWant, ZeroCoaster is a prime example of one of those 50 qualified enquiries. Back in the summer, you start to easily understand how forecasting anything like that could materially overstate or understate revenue when they were working towards a maritime standard AiP. Now that’s been granted and VARD have a commercially-realisable AFC-powered boat to sell, we’ll see those numbers stated in due course.
Interesting question Staggers. In the ABB 2020 results they call out/remark large orders defined as >$15 million. So a £4m cost paid to AFC might not be too outrageous given we cut out the Grid, and there’s going to be some development in there.
Also amazing to see the ABB order backlog was $14.3 billion at the end of the quarter, up 7 percent. Albeit that was Group wide, yet ABB Electrification Q4 2020 order backlog for EV charging, data centres and renewables order backlog was still a decent $4.2bn. Such a great partner!
Let’s also just see what the EOY update is. Last year our loss was £4.2m. We’ve just sold £4m to ABB, of which £2m in the bank now. Plus more of the ExE income after the initial £150k first race payment will be largely in. Operating costs expected to be higher now sure, but hearing some pretty good signals of profitability coming. Gary Bullard clearly happy to now have 160k shares personally invested. ABB will have the S unit much sooner than 2023, and understandably they will want performance data etc before wrapping it up and selling with the full weight and conviction of their world class portfolio, reputation and footprint. I don’t discount the possibility of L sales in the meantime so quite happy to wait for news on the multiple fronts we’re expecting to hear, not least Alkamem and what this latest Abu Dhabi partnership is all about that the DIT are also tweeting but for some reason we’re none the wiser on
Comment by someone at Manor Marine on the AFC Prince of Wales COP LinkedIn post last week has caught my attention: “Excellent - The Container fit out by G3 - Well done to them too”… anyone heard of these guys and is that G3 Systems based in Portland, Dorset: https://g3-systems.co.uk/what-we-do/equipment-and-infrastructure-solutions/
I’m wondering why haven’t BK Gulf/AFC done the fit out for this COP container if true?
Also, Manor Renewable Energy (offshoot of Manor Marine, also based in Portland, Dorset) offer temporary power solutions offshore: https://www.mreltd.co.uk/temporary-power
Could they be a future customer or engaged with AFC in any way? Why is the person working for them commenting above one of so few to comment on AFC’s post as being excellent? They do temporary power JCB generators eg 116 kVA for Hornsea etc. Maybe just a fan. Like Dave Sterlace…
JCB were on the radio last week: https://www.bbc.co.uk/programmes/m0010xpd
They’ve tried fuel cells in their plant machinery, but the vibrations and dust etc were causing problems. They needed a large amount of power so suggesting they were looking at hydrogen combustion engines I think. Not sure why BEVs can’t work for them though?
Seems ExE so totally taken off guard by this announcement. Massive steps to downplay footprint in the press release. Then ExE saying two hours ago on Twitter that they basically hadn’t got Scotland on the shortlist:
https://twitter.com/extremeelive/status/1453386621580152839?s=21
As per this:
https://cdn-cpfgb.nitrocdn.com/dRxFEBZBvMUrSIsoXplluqPbGwZVXSCF/assets/static/optimized/2021/09/00d563cbd3c8c32f616ba1ccfce2b3ba.b4be2b669ef74b8ab52cee49894b0e73.jpg
“Army Vehicle Electrification Programme” quick google:
https://www.army.mod.uk/news-and-events/news/2021/09/army-announces-battlefield-vehicle-electrification-plans/
AFC’s set-up at ExE seems just ridiculously perfect for the Army and where they might need to operate. Great to showcase it in person this weekend before they even get to Bovington.
Agree, and doesn’t surprise me with this useless bunch in govt., “sufficient foresight” is largely absent. Also, remember the capital markets event where AB made clear AFC is not reliant on govt. support, nor will AFC be waiting around for tens of years in case hydrogen infrastructure gets built. AFC strength is off the use of ammonia and a ready made fuel supply infrastructure and industry in place today. And the commercial partnerships in place.
16 Dec 2020 AFC-ABB RNS:
“ Under the agreements, AFC Energy is afforded a Right of First Refusal across multiple years, to supply H-PowerTM fuel cell systems into ABB's high power EV charging network of international customers where customer or site power demands are absent or require further resilience.”
We fit in as, with any of ABB’s e-Mobility clients where a new system is required, we have a right to first refusal with ABB to supply fuel cells for charging infrastructure where it is grid constrained/grid absent. Not saying these sites will all be appropriate, but likely some.
Major General Simon Hutchings OBE said: “The British Army prides itself on its ability to conduct operations in all environments, adapting and developing its skills as required. The opportunity to work alongside Extreme E who are world leaders in electrification of vehicles and sustainable energy production is very exciting. It will enable us to share innovative ideas which will allow the Army to continue to gain technology advantage globally, whilst also contributing to our climate and sustainability targets.”
Let’s see what Peel have to say. We had a 20% rise in one day when Zeus issued their 180p target or whatever it was. Holding for well north of that, whenever that is, mañana!
Assume we’ll hear more on this product launch from the U.S. event next month:
“ABB’s HiPerGuard has advanced integration capabilities with a wide range of backup power systems including diesel generators, slow paced gas generators and turbines. HiPerGuard also ensures flexibility of system design and future energy source implementation, for alternative energy sources such as hydrogen.”
https://new.abb.com/news/detail/82620/abb-launches-industry-first-medium-voltage-ups-that-delivers-98-percent-efficiency1
2+2=5 but some interesting Likes of that post, from e.g.:
Tata Steel
Deutsche Bank
Test integration manager at BT?!
Aramco account mgr at Zahid Tractor
Solutions architect at Sainsbury’s
Hire operations at BAM
Logistics at Porsche
Etc.
In other news, E1 Series boat launch in Monaco tonight, also covered on their Instagram account:
https://www.e1series.com/news/12_E1-Series-unveils-full-size-model-of-electric-RaceBird-powerboat
Watch this space I reckon…
I find it telling that Frank Muehlon, global President of ABB eMobility has not engaged with/liked the Swiss project on LinkedIn yet has managed today to like Adam Bond’s post re. Urban-Air. Makes no sense for ABB to start promoting this on the “eve” of their own proprietary version. Can’t see this getting much further ABB support. I am looking forward to hearing how they market the AFC product however, with 80 countries in their realm
Delighted to see this news today. I like that this is both a Supply AND Collaboration Agreement.
Air-One in Coventry (kudos to DW who did flag its potential a while back) has definite UK Govt. interest and backing and one of 200 sites identified over 5 years, but one of 65 going ahead in partnership with this wider Hyundai announcement out today. What a huge PR opportunity this is for AFC, let alone income potential.
I’m wondering about a few things however:
1. Will AFC’s fuel cell power both ground and air vehicles?
2. Why just a three week lease? 21 days seems a random number so must be something specific about it, otherwise why not 4 weeks to make it up to a month, 3 months etc. Seems incredibly short for something that is a permanent build in Coventry…
3. Why is this a Reach rather than Regulatory RNS, and therefore deemed not price sensitive news? We’ve heard transport hubs and eVTOL mentioned by Bond and this will generate some 100% initial revenue, even if just a 3 week lease announced today. This quote from Ricky Sandhu suggests more to follow: “AFC Energy are the perfect partner … world leading Hydrogen Fuel Cell technology … eagerly anticipate expanding the partnership to deliver clean, green, off-grid power to the future of air mobility.” I’ll take that whilst we wait for news on all the wider known unknowns!
It’s not conclusive at all, I think it’s interesting though and in the absence of news otherwise, I just think that mines are pretty off grid/grid constrained which is where AFC’s EV partnership could come in. The mining trucks are specific at 600kw and that’s what ABB’s eMine FastCharge was announced as offering the other day. No fuel cells mentioned, granted, but it mentions “exploring possible technologies for high power charging”, which to me seems more than just using a grid connection and their usual EV charging set up. One day we’ll know either way…