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‘You could therefore run the Ammonia Cracker using Hydrogen Fuel Cells (AFC Energy's or anyone else's) off-grid and make loads of Hydrogen at the ultra low cost of Ammonia to fuel it. Or you could use cheap renewable energy if you just wanted the Hydrogen for an industrial process rather than more electricity.’
Do you actually realise how stupid this sounds……use H2 to make electricity to pump into a cracker, in order to make electricity….out of ammonia which has used vast amounts of energy to be produced….or you could use renewable energy to power the cracker to split out something that less energy dense, when energy density is supposed to be the thing that ammonia is supposed to overcome…..drivel…..hello, Mr black kettle, said the pot…
Tweedy…..or alternatively just pipe the renewable electricity through an electrolyser to create, oh, what’s that stuff…..hydrogen! Which, in spite of the spin can be safely stored and transported, it’s just that doesn’t suit the “next big thing” narrative…..and before you say it, if ammonia is. More energy dense than pure H2, isn’t that not quite as safe to transport?
Haggis
Read the words, then read your words and see how imbecilic your statement actually is.
What you seem to be stating is that you get more energy out than you put in, which is a nonsense and the kind of double speak spin that this company uses in its statements. What isn’t stated is that the energy put in us used to liberate the H2 contained in the ammonia which has in itself been produced at great energy expense. No doubt you buy into the lie that a cracker is more efficient than an electrolyser….which it isn’t…….
Oh, of course those geniuses at AFC might just have created the electrical generation version of the perpetual motion machine, I don’t think……
Word on the street is that AFC are working on a perpetual motion machine that can be used to run a generator to generate the electricity that the cracker will need to crack the ammonia (into which the hydrogen has been placed at vast efficiency cost) to get out the hydrogen that they will then put through their fuel cell to create electricity that they will then store in a battery until such time someone wants to use it.
Is this complete nonsense? comments on a postcard please.....
Stating the true facts is a vocation, not a paid job, squire, unlike those possibly employed to generate so much white noise that the true dire state of the company’s product development gets overlooked…..
Per the ABB contract award RNS
"Proceeds received by AFC Energy under the Agreement will total £4m. Of this amount, £2m will be payable upon the signing of the Agreement, with two equal remaining milestone payments receivable on validation of system performance. Proceeds will be used to support the costs of system development and testing, together with recovery of AFC Energy overheads and the system's overall purchase cost"
Per the contract amendment RNS
“In early 2022, ABB E-mobility made a non-refundable payment of £2m to AFC Energy towards early stage development costs of the S+ Series fuel cell platform. Following review of the commercial arrangements between ABB E-mobility and AFC Energy, the two companies have agreed the following:
· ABB E-mobility has expressed an intention to invest a further £2m into AFC Energy by way of a subscription for shares in the Company replacing the subsequent payments due under the original contract.
· A volume discount on up to 10 x 200kW S+ Series fuel cell system sales to ABB E-mobility or its direct customers for a defined period of time”
It is quite clear from the above that there is no link between any amounts already received under the original agreement and future sales; the release of the balance of this original £2.0 Million (the £1.4 Million shown as deferred income) is subject to the company hitting performance milestones, and has nothing whatsoever to do with any subsequent orders, and certainly isn’t linked to any bulk discount.
For the deferred income not to be recognised, there are only two alternative explanations, either the contract has been changed, or the milestones haven’t been met, in either case, do we not have a right to know?
McStock
You make me laugh!
AFC has gone from being a company with a purported aim of being able to produce fully green electricity on an instantaneous basis using virtually free hydrogen which was a by product of the chlor alkali industry, to a company that, if your synopsis is correct, needs to use ammonia (sourced from where, and green credentials of which are unknown) which will need to be put through a cracker that hasn't yet been developed, in order to trickle charge a battery. my, my, haven't we come a long way?
Oh, and another thing, anyone notice the massive misrepresentation of the comparative efficiency of the cracker as opposed to electrolyser?
My word!
Things must be bad, even if one of the uber boys has got an attack of the jitters, and has taken a turn to the dark side! At least you've got a sense of humour old boy! it'll be sorely tested by this debacle, I can assure you!
Daz. I personally wouldn’t worry too much about H2 supply and delivery, that’s a bit putting the cart before the horse. They’ve actually got to sell the units first, and let’s face it, the only so called sale on the horizon is with Speedy, where I’d put good money on no cash actually changing hands, as it will be another smoke and mirrors “payment in kind” arrangement meaning that’s it’s effectively a non sale in commercial terms.
I think the key word we are looking for is honesty. If Les had said “look, folks, we’re trying to develop something that’s really difficult and there may be a few wrong turns along the way, but best with us” and then kept us informed of the true state of affairs ref product development, then there may have been a bit more forbearance, but as there has been a complete litany of partial truths, ambiguous statements and I believe deliberately misleading statements, the joke (at the dhareholder’s expense, remember) is beginning to wear a bit thin. Just level with us, that’s all we ask
And nothing projected in the £27m from ABB….not even a little bit, even if only stated as not committed (whatever that means, that’s on par with “cumulative output, remember that one, folks?)
Oh, and well done Thongthing for actually reading the reports and looking at it from a rational perspective. Starting to wake up and smell the coffee?
Wow! An Uber getting an attack of the jitters!
Anyone care to comment? My view is that the ABB thing is dead in the water, and has been since last year, when Les agreed to the 50% discount in the form of the shares, and a further so called discount on products they aren’t contractually obliged to buy. I foresee there being a further share issue to ABB for £1.4 m worth of stock at the current depressed level, which all of the Ubers will say is a triumph….