Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
The sad fact is that this company has failed to deliver on any of the “we’re developing ground breaking tech” rhetoric spouted over many years, and it’s becoming clear that this is nothing other than a chancers paradise, where the primary beneficiaries are the overpaid CEO and board of Directors. No product ever supposedly developed by the company has ever reached a commercially viable stage, and every time there is danger of this becoming apparent, there is always a new and exciting avenue to investigate, which always takes the sting out of the failure that’s never fully disclosed.
The Ubers may believe that this will come good, which is their right, but those who have seen the spectacular lack of progress over 16 odd years reserve the right to feel aggrieved at the somewhat economical view of the truth that the company believes is accept able. This criticism is not solely levelled at AB, because this practice was being carried on by pervious incumbents .
Should I sell? No, on an aver aged down price of 22 pence I’m about £10k underwater, which isn’t in any way a problem, but to be honest, I’d rather not chrystalise the loss and regain the moral authority to call the company to account.
Again, I challenge anyone to identify a single development where the company has actually delivered anything to commercial fruition….
Let’s face it, there has been no news with any substance that isn’t veiled in ambiguity for a very long time. Units out on test with builders keen to greenwash? Where are the orders? Super wizard unit delivered to ABB? Oh yes, the follow on investment that the mug shareholders paid for, and the discount on any units they decide to buy…..Accoinia….any orders? Didn’t think so…..never mind, there’s always the Middle East (again!) I’m just waiting for the next RNS saying we’re going to South Korea again……oh, and the next pie in the sky “next big thing” maybe building low cost fuel cells from Musk’s trip to Mars…..timescales would be about right for AFC….
Forget all of that, we are, of course, developing the cracker, which will take an age and keep all the fools fuelled up with hope for a while…..yup, a not needed solution for a non problem fuelling a not commercially viable product.
I only wish that there was some way of having a kind of financial instrument that makes money out of a share sitting in a channel for ever, because that’s all this is ever going to do…..
Welcome, ladies, gentlemen and self identifiers, to the annual clutching at straws awards. This years winners, by a country mile are that indomitable bunch known as the AFC Ubers, who never give up, never say die, and scour all forms of social media for anything that could remotely possibly indicate that their undying faith in the company may just one day be rewarded.
Great kudos to this stalwart group of believers, who endeavour to see the sunny side come what may, but a special mention to McStock, who always manages to unearth some peripheral grain of information which probably had little relevance to anything remotely regarded as progress and then spins it into some kind of new alternate reality for the Ubers to lap up.
No doubt when accepting the award, the recipient will show great gratitude to AB for providing such a fertile feeeinb ground for this baseless optimism…
Judging by the concerted effort to cancel any comment other than the “everything’s fine, it just takes time, all will be great eventually, honest guv” party line, methinks that the Ubers are getting more than a little concerned that the true reality is that there isn’t going to be the great payday that they are collectively pinning their hopes on.
Ask yourself this, how gutted must ABB be to have not done the sensible thing and asked for their money back, but rather take shares instead which are now worth less than the cash discount they equated to…..
"In the case of ABB, Acciona and Speedy, these are commercial systems where it's very unlikely that the client would hold up delivery. And as said, the 100kW was delivered in October 2022 but only RNS'd after ABB had validated it and negotiated the deal for the 10 x 200kW systems at the end of March 2023. AFC had from end of March 2023 to year end to build it, and they knew how long it would take from their experience and metrics when building the 100kW, so I think they finished it early too and it's been with ABB for at least a month, possibly two"
Complete conjecture without a single shed of evidence to support............A complete joke and a half!
Why don't we all set out exactly what the company has actually achieved during this calendar year. When I say achieved, I'm talking about actual positive progress on either getting an actual product to market, or even making a sale of anything at remotely commercial rates.
Don't bother wasting typing time on MOU's JV's or supposed new products which are, until such time as they actually deliver something simply the square root of a load of wind and wet. let's look at hard facts.
Klunk
As you well know, no contract will ever be allowed to fail, because that would be bad for the company. all that happens is that the terms of the arrangement are revised massively in favour of the other contracting party. The question is, how much more will ABB "invest" when the next unit is delivered, and there has to be another smoke and mirrors exercise about what its actually capable of.....
I think it was Garonne who suggested that maybe the ABB deal could be faltering, and some bright spark suggested that this would be price sensitive information and as such worthy of an RNS…..Pray tell me then , whenever any of the other deals / mou’s / products have fallen by the wayside has there ever been an RNS announcing the fact to the world? Simple answer is no, because the company’s modus operandi is just to let things either on the vine in the hope that they will all be forgotten about….
Yup, back to believing everything the company releases hook line and sinker……just hope that the next 50or so qualified leads prove more productive than the last…..you never know, we might actually have a commercially viable product this time…but then again, how many times have we been on the cusp before?
Nice to see we’ve hit 22 pence….AB will be mighty relieved at that, I guess….
Klunk
It hasn’t pannned out at all….no fundamentals have changed at all….the simple fact is that THE COMPANY , ITS JV PARTMERS AND THEIR ADVISORS can’t even get a simple thing like a statutory filing requirement right…this is downright shoddy, if nothing else…..McSrocktake……I never said it was down to AB, because only a complete melt would think that…..
The sad fact is that supposedly intelligent people simply cannot differentiate between reality and a load of spin, and have just become a bunch of disillusioned apologists for the company and its overpaid spin doctor of a CEO…
Oh yes, there will indeed be a report.....It'll go something like "flew out first class, so that I could be in with all of the other movers and shakers.......had a good lunch.....got the limo to the hotel....checked into my presidential suite....had a good dinner.....met some movers and shakers, had a chat about out solution for boiling kettles in the desert.....they all nodde enthusiastically, and then all had to go to the loo at the same time ...funny, never saw them again.......went back to the presidential suite....ordered supper......awoke in the morning....had a nice breakfast......met some more blokes at some do or other, mentioned in passing that we were developing a thing that takes hydrogen out of something, they seemed really interested, but then all saw someone that they all desperately needed to speak to...they never came back.....then it was lunchtime....and very nice it was too......Spoke to a few blokes about some joint ventures, and we all laughed about how way back in the good old days you could pull the wool over peoples eyes with a good old MOU, but now you have to go through all of the palava of pretending that you're actually going to do business with someone...Time for dinner...and very nice it was too.....went down to the piano bar, pressed the flesh a bit with the movers and the shakers.......all in all a very successful trip.....all I now need to do is actually get some bugger to actually buy one of our so called commercially viable products on remotely commercial terms and we're all laughing (and not just me...hahahahah!)
As the saying goes...."there are none so blind as those who will not see"......This thing is being manipulated, plain and simple. This isn't a case of the price rising because the world's getting moist about AFC, it's simply that someone is strategically nudging the price up in order to hit a pre determined target by a certain date at someone's behest...Who that may be is the big question............