Member Info for fairlysolvent

Toneman: Are you sure?

Adam’s Linkedin page indicates decades spent not in the private sector, but in government owned organisations where his area of expertise was funding.

Also, and more importantly, Adam’s page indicates he has no operational or headquarters finance experience or expertise. I have worked in these international tech environments, financial control, treasury operations etc. are complicated, relevant experience is important.

I am surprised by this appointment. And unless I have missed something I am disappointed.

Adams’ last employer was the UKIB (Invinity’s major shareholder) and I can see that he could be an appropriate non-exec representing their interests ... but Chief Financial Officer?

FS

AbjectPerformer : In my view this is a turnaround situation that is still in progress and any substantial movement in the Synthomer price is at least a year away.

I think what could lift the short-term price would be:

the sale of non-core business(es) that the Company have spoken about;

a positive annual trading statement (due at the end of January) confirming that the Company continues on track with the strategy of focusing on the specialty chemical market, operating efficiencies and cost control;

or the unlikely event of a substantial rise in demand across the sector.

My own view on the current managements’ progress to date is - so far so good – but we will see.

Many uncertainties ahead.

FS

Joseywales: Apologies, I should have made it clearer - I had been thinking of the possibility of the disposal of non-core activities. I agree the point you make.

FS

See last paragraph:

https://uk.investing.com/news/stock-market-news/wendel-mulls-21-billion-deal-to-sell-chemical-maker-stahl-bloomberg-3808169

Thanks for the clarification Theoldtrader. Your knowledge and willingness to share it (as others have said too) much appreciated.

FS

Same info but more detail:

https://reneweconomy.com.au/horizon-starts-flow-battery-pilot-to-test-viability-in-extreme-conditions-and-remote-grids/

FS

Https://www.pv-magazine.com/2024/11/25/horizon-powers-up-vanadium-battery-tech-trial-in-australia/

FS

Https://www.bestmag.co.uk/flow-battery-technology-getting-there-for-long-duration-energy-storage/

FS

Hi PMC2022 / Theoldtrader / anyone

On the point of concluded contracts. And I am new here so please forgive my ignorance if this has been discussed in the past. My reading of recent posts is that expected / forecast sales are the subject of contracts that are not concluded i.e. not yet accepted. I assume therefore there are outstanding issues - e.g. performace hurdle not yet met, regulatory / budget issues or whatever. Do we know what the "hold up(s) is / are"? Or have I not proprtly understood the term concluded?

Thanks

FS

I agree, whoever writes these updates doesn't do upbeat. But it does come across as solid - and in the current climate I think a solid performance is what is required. I suspect there is further grind to come - but personally I am satisfied with the management's approach. So far so good - but a way to go yet I expect - I will remain a long term investor.

FS

To anyone with relevant knowledge. How important is the item below to Invinity?

From this link: https://www.renews.biz/96078/ofgem-calls-for-tnuos-regime-changes/

This extract:

In a letter to the network operator, previously known as National Grid ESO, Ofgem suggested a “temporary cap and floor intervention” should be designed and brought before the Connection and Use of System Code panel in October.

Thanks

FS

A positive outlook with no obvious downsides. I look forward to some detail in the presentation. Indications of current achievements and confirmation of appropriate future plans today give me confidence. More ups and downs in the future for sure, but in my view so far so good.

FS

I am new here too - my understanding is much the same as Timemyfriends: Siemens Gamesa Renewable Energy, in which Siemens Energy holds a significant stake, entered into a partnership with Invinity Energy Systems. The collaboration involves joint development and commercialization of vanadium flow batteries, with a focus on grid-scale energy storage. Siemens' subsidiary, Gamesa Electric, and Invinity are working together to develop and sell these energy storage systems, which combine Invinity's vanadium flow battery technology with Siemens Gamesa's power conversion systems. I also understand Siemens Gamesa (through its subsidiary Gamesa Electric) was granted an option to acquire 9.99% of Invinity’s shares at a price of £1.75 per share.

I am not aware of any public statements of any substance on order progress.

Older members here may have more info.

FS

Only a recent follower here so please forgive my ignorance / naivety. Is this a relevant link or just supports / confirms the recent post by Theoldtrader?

https://www.pv-magazine-australia.com/2020/12/11/first-grid-scale-vanadium-flow-battery-to-be-built-in-australia/

FS

Hi Aputure

I take your point about Sodium costs and I know these are shared and important. Your point feeds into the general concerns as to whether Invinity can make acceptable margins on their products. But as I mentioned before, there are other factors aside from upfront costs, of course. For example, other relative intrinsic comparison factors include Scalability, Temperature Sensitivity, Maintenance, Safety, Cycle Life, Environmental Impact etc. These would all likely affect relative lifetime costs (and possibly regulation?) and buying decisions.

Any knowledge of or thoughts on the likely impact of these other factors would be welcome.

FS

Aputure:

For what it's worth I asked ChatGPT this question: Compare LFD batteries and Vanadium Flow Batteries. The answer was too long to post here - but covered life cycle, efficiency, scalability etc. and was generally encouraging for Vanadium Flow Batteries

The summary said: "In conclusion, LFP batteries are well-suited for smaller-scale, high-energy-density applications like electric vehicles and residential energy storage, while Vanadium Flow batteries are better for large-scale, long-duration energy storage, particularly in grid and renewable energy integration".

FS

My general positive reading of the potential market for Vanadium flow batteries is confirmed by this update - but of course the delay in sales and particularly the delay in moving to cost efficient production of the new product is disappointing.

On publicly available info the company seems likely have enough cash to get to the finish line on the product, but what the margins and the market will be like when they get there is anyone's guess - and that is a big risk. I would be interested to hear of better informed opinions.

Invinity obviously was, is, and likely will continue to be a high risk high reward stock. It is an exciting (small) part of my investments. GLA

FS

I don't understand. The first total - 440,560,000 equals total shares in issue. The next line - 108,695,652 (= number of shares held) UKB (= holder) but Equals 331,864,348 (what does this mean, please)

Thanks

FS

I agree with BearFoot.

In terms of the developments in Synthomer over the last year (at least as far as it is in management's control) things seem to be moving forward. The strategy that the management has - focussing on speciality chemicals, improving the effectiveness and efficiency of continuing operations and moving to close or sell on other parts of the business - seem to me to be progressing and working.

Similarly, short term / medium terms actions to repair the balance sheet have been successfully completed. The gearing level is of course still an ongoing concern, but (assuming Synthomer turns cash positive this year) at least out to 2027 the finances seem likely to be stable.

This is still clearly a high risk / high reward share - and as others have noted the rewards are highly dependant on volumes improving. And clearly, geopolitical storms would substantially impact this company more than most. But in my view - so far so good.

FS

I'm not so sure I agree with you Jonny. The strategy of the company, which they have been pursuing for some time, is to move into the healthy (plant based) food market. On the results so far and on what I read (for example- high teens annual growth rates) that seems reasonable to me. And as an aside I think the 2.5 metric you mention is a relatively moderate one for a stable market like the food market and is really not a big cause for concern (correct me if I am wrong).

Lastly, the new acquisition gives scale to the company and broadens their product offering, which is surely positive. The "healthy" strategy is obviously not without risk, but if the management has the necessary abilities to grow in an expanding market I think (hope) the acquisition is a risk worth taking and I currently believe this is a share worth holding (which I do).

FS