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You are probably right, Chippy. It seems pretty clear that some people are trying to take advantage of the paucity of proper news from the company, seemingly safe in the knowledge that a leopard never changes its spots. I still live in hope that AFC will catch everyone out by releasing a stream of positive news but it is more than a little frustrating to be proved wrong so many times! Maybe tomorrow...
LOL AIM
Just ignore ITM's 30% gain before that which AFC did not benefit from, not to mention the fact that the only logical reason for AFC's drop the last 2 days was ITM's loss yesterday. Wind your neck in, yet again.
Chippy, those batches of AT trade sells have plagued this share for months and have always looked very shifty to me. Meanwhile, CWR is blue (having missed most of the carnage), ITM is showing signs of recovery, FCEL is 32% up and AFC is continuing its descent...
More to the point, who has been selling tens of millions of shares all the way from 60p+ for weeks? Still waiting for them to run out of shares but there seems to be a limitless supply of shares even at 55p. Meanwhile, FCEL is up 26%!
You would have hoped that Fuel Cell energy rising 22% in the US would have helped to lift some of the cloud caused by ITM yesterday. Mind you, it would also help if AFC could break the habit of going weeks without saying anything, especially when they have a Head of Communications!
Spot on, Chippy. I would think that 30+ emails from shareholders would do the trick.
My suggestion is that anyone who is genuinely interested in holding AB to account contacts IT and asks for a shareholder day to be scheduled in order to ensure that there is some level of accountability. They could hold this in a few months and it could provide the perfect chance for AB to reflect on all the positive developments between now and then!
Clearly, today is looking like a bit of a car crash for the sector, with the lack of substantive news from AFC not helping, but the research note serves as a reminder that there is an awful lot of potential upside for AFC. It may take months, or longer, to realise a large amount of this potential but, as far as I am concerned, AB has put a stake in the ground by suggesting that the next few months will be transformative and I doubt that we will need to wait too much longer to see clear signs of this. Afterall, turkeys rarely vote for Christmas!
Anyone can subscribe for free, Junior. The opening summary is:
A solid future
AFC Energy’s statements and recent integration work with ABB highlight growing interest from customers which bodes well for orders in the months ahead. The forthcoming S-series of products will expand the Group’s portfolio and should deliver much high power densities and improved economics. The deployment of fuel cell technology is increasingly recognised by Governments and industry as a key tool in reducing global greenhouse gas emissions, which we expect will drive momentum for deployment in a number of sectors. Our valuation is 188p but we see enormous potential in Maritime and Data Centres which is not yet factored in.
As we await AFC to break their silence again, it is encouraging to see the latest very detailed Zeus research note this morning. They have raised their valuation a little to £1.88 from £1.84 but the key point is that it is very positive about the future. Time will tell as ever. You can download it from the Zeus site if you register:
https://zeuscapital.co.uk/services/research/
I have no idea why Innomech have posted a link to their case study from August 2014 a few minutes ago on Twitter but they must have a reason for it. An interesting tweet nonetheless.
https://twitter.com/Innomech/status/1436396652546437123?s=19
Fuel cells are one of the most promising new forms of energy generation.
Innomech has designed and completed a novel automated manufacturing system that AFC Energy will use to assemble five stacks per day.
https://t.co/RTsB5WcZ3M
#automation #casestudy https://t.co/wW7lDdL1zX
Whilst the timing of these options might leave a bad taste in the mouth, especially the ones that have been calculated from last year, none of them will be worth anything if the company fails to deliver over the coming months and years.
The cynic in me thinks that this helps to explain why newsflow has been so poor for many weeks and why AFC's share price has failed to rise in recent weeks alongside the rest of the sector, with the directors now magically able to let the news flow and the SP rise! Welcome to AIM.
Presumably, it is a large holder who has been offloading for weeks (or even months) but, with the last placing at 64.5p and the significant rises for CWR and ITM the last few weeks, it is very bizarre that the SP is being kept below by the seemingly relentless selling.
Clearly, it would help if AFC could pull their finger out and finally sell something this year but AB has pretty much promised lots of orders in H2 and each day that passes should bring this a day closer!
Well, Tradegate certainly isn't charging ahead with excitement. Mind you, Tradegate has been disappointing all year, since the crazy spike last year! Let's hope AFC produce something genuinely positive to cheer everyone up this week.
It is interesting to see the Motley Fool recommending buying AFC after so many years of talking it down as much as possible. I wonder if this will help change the investor sentiment.
https://www.fool.co.uk/investing/2021/08/29/3-renewable-energy-stocks-to-buy-2/
3 renewable energy stocks to buy
Analysts believe as much as $3.4trn will need to be spent developing the planet’s renewable energy capacity over the next nine years.
With that being the case, I’ve been seeking out green energy assets to add to my portfolio. One of the sectors I have been concentrating on is hydrogen.
The holy grail of energy?
The global hydrogen market is still in its infancy. It was worth around $117bn and is expected to grow steadily to $165bn by 2027.
Hydrogen makes sense for many applications because it can be stored and is relatively lightweight compared to electrical batteries. And when it’s used, water’s the only waste product.
The challenge facing the industry is creating hydrogen that’s both green and cost-effective. If scientists can crack this code, which they’re working towards rapidly, it could be the holy grail of renewable energy.
So I want to have some exposure to the hydrogen sector in my portfolio. However, many of the companies that I consider to be developing transformative technologies are still in their early stages.
I tend not to invest in these sorts of businesses because there’s so much that can go wrong between development and commercial production.
That said, I think the outlook for the sector’s so bright I want some exposure. That’s why I’d use a basket approach. Rather than investing in just one company, I’d acquire three or four.
There are at least three different hydrogen companies on the market right now, which I’d buy for my portfolio.
Renewable energy stocks
These companies are Ceres Power Holdings (LSE: CWR), ITM Power (LSE: ITM) and AFC Energy (LSE: AFC). All of these firms are developing their own solutions to the hydrogen problem...
AFC is developing alkaline fuel cells that use hydrogen to make electricity at the point of consumption. A great example of one use for this technology is electric charging stations, which can be powered by hydrogen...
Indeed, Athansius. AB is either a fantasist or we will finally see what the "holy grail" comments have been all about.
Meanwhile, it is possible that AFC will have a random recovery!
I don't think that many people 2 weeks ago would have predicted that AFC would be flat whilst ITM and CWR both rose 20% or more, especially as AFC actually released the ABB update during that time. As for what this means is anyone's guess but my guess is that it suggests that there is skepticism about AFC delivering what it laid out in the interim results. Whatever the case, let's hope that AFC surprises the market with the first contract in a very long time, alongside some more updates on partnerships etc. Everyone can't be so busy for so long without something major to report, surely!
It is starting to look like someone really doesn't want the SP to stay over 60p and the low volume is giving the seller(s) an awful lot of control over the SP.
At least ITM and CWR are faring a lot better so, hopefully, this will rub off on AFC and finally clear those relentless sellers! Where on earth do the shares keep coming from?
If ITM and CWR continue to fly then it is possible that interest will increase in AFC, especially after the update on Monday, which could finally break the chains on the SP that have been restricting it for months.
A few weeks ago, I posted the "Outlook" section of the interims to remind us all what we have been told to expect and I think that it is worth reposting it in light of yesterday's announcement. My current thinking is:
- The ABB unit was delivered, for a change for AFC, well within the timeframe given of Q3.
- The motor show was not mentioned at all and, to be honest, I had assumed that they weren't going to do it although I would have much preferred the company to have said this in the interims if it was already known then.
- AFC is adding new staff at all levels at a rapid rate and the fact that they still can't manage to do the show suggests that there is an awful lot going on behind the scenes.
- There are still numerous highlighted developments to come over the next few months and, going by the ABB progress and the motor show no show plus the extra staff, it is quite possible that the company is flat out and ahead of schedule with some of them.
Take a look again at the relevant section below and it should cheer up all genuine shareholders.
Outlook
-- AFC Energy expects to announce multiple new system orders in the second half of this calendar year.
-- On track to complete design and system architecture of the integrated ABB / AFC Energy high power EV charger unit by the end of June.
-- On track to supply first fuel cell system to ABB site in Q3 for physical integration with high power EV charger.
-- Following COVID related delay, AFC Energy fuel cell system now on track for dispatch to ACCIONA in Q4 2021.
-- Multiple new product releases expected for second half of this calendar year.
-- Juelich fuel cell system for German micro grid on schedule for completion in Q4 2021.
-- Receipt of first commercial scale ammonia cracker for system integration next week that significantly advances competitive upstream fuelling strategy.
-- Strategic collaboration in maritime sector under discussion.
-- Assembly and commissioning facility at Dunsfold Park opens this week, incorporating office space for new engineering team.
-- Recruitment of new product engineers, manufacturing and field technicians, fuel cell and polymer scientists, and commercial staff expected to continue with on average of two new starters per week.
-- Commencement of scale up of manufacturing process for AlkaMem(R) anion exchange membrane ("AEM").
-- Preparation for delivery of full prototype high power dense AEM fuel cell by calendar year end.