Member Info for haggismchaggis1

And........ AFC have announced it already.....

"We are proud of how well our fuel cell performed in the extreme heat in the last Extreme E races in Sardinia. It avoided about two tonnes of CO2 being released into the atmosphere. We look forward to working with Extreme E's new partner ENOWA in Chile in September. "

https://twitter.com/afcenergy/status/1551938615260979201

TT,

The Fuel Cell was branded as Enowa ages ago, just go back and watch the previous races. If there was anything AFC needed to announce it would have already been anounced, but it has not, so therefore there is nothing to announce.

The Extreme E press release below explains the reltionship between Extreme E and Enowa. From this I would say that all of the agreements AFC had with Extreme E have been changed to Enowa being the party that AFC deal with, but no change to agreement financials and thus nothing for AFC to announce.

29 June 2022, London:
Extreme E announced today a multi-year relationship with ENOWA, NEOM’s energy, water and hydrogen subsidiary, to introduce green hydrogen power to their global sustainable racing series. The announcement comes just days after NEOM, a sustainable region in northwest Saudi Arabia being built from the ground up, was revealed as the title partner of the McLaren Formula E and Extreme E racing teams under the banner of 'NEOM McLaren Electric Racing.'

By partnering Extreme E and ENOWA aim to implement innovative green hydrogen-based technologies to not only power the championship towards a 100% “leave no trace” ambition but also to showcase the opportunities around this technology.

https://www.extreme-e.com/files/m8106_FINAL_ENOWA_partnership.docx

Tetrolite,

Ys, and if people watch the races they can see that not only does the Fuel Cell still have 'AFC Energy' written on it just above the bottom section, there is also an AFC Energy gazebo right next to it.

Daz has been lying about AFC for years, why would anyone even bother to read his posts? I certainly don't feel any need to.

Does that make the GSA a good news bad news RNS, or just a good news RNS?

Still got that MASSIVE chip on your shoulder *********?

Helikon are the one's still increasing their short, they were at 1.94% of the stock but increased that to 2.14% yesterday. As I said, they are either very determined or desperate.

Helikon Investments Limited 2.14% 24/11/2022

Today's MCap is £606m, so 2.14% is £12,882,800 short sold just by Helikon. I wonder who in their senior staff signed off for that level of shorting, and how brown their trousers will be if it quickly goes the wrong way for them.

46,

I was disappointed that many attending and asking questions just focussed on pointless ancient history, and just seemed to want to use it to whip the QFI Directors with for the umpteenth AGM in a row.

And the funding questions were pointless because QFI are not even going to look at that until the middle of 2023, yet some were trying to make it sound like funding was going to be done next week, so I'm glad the directors cleared that up, but in reality, those questions and using the 'funding' word to try and batter the Directors repeatedly was infuriating.

I can understand why JM was smirking a lot with these dumb ass questions, he was clearly wondering what planet these people were from, and when were they going back!.

It's about time those people realised that we are where we are, it's a VERY good place to be, with enough cash to last to the end of 2023, Morocco trial in just a few weeks, Utah not far behind, Americas warming up too, and MSC going ahead next year a 99.999% certainty.

stumpy,

According to Edison the 4000 hours is for the LONO not the PoC. The PoC is 1000 tonnes. The LONO is 25000 tonnes. So LONO works out at 6.25 tonnes per hour, and 1000 tones at that rate equates to 160 hours, which is 6.67 days, but likely to be spread over a couple of weeks. If only one vessel is used, then we are looking at about a Month, but could be less if they are running it 24h per day at any point, it would soon get used up that way.

Edison said:

"The POC tests will take place on the Seago Istanbul, which was previously used by Maersk to carry out successful demonstrations of MSAR and is now owned by MSC. The tests will require 1,000 tonnes each of bioMSAR and MSAR."

"Assuming the results from the POC tests are positive, MSC will then conduct lengthier trials (4,000 hours of operation) to provide commercial operating experience, potentially culminating in obtaining LONOs from the engine manufacturer, Wärtsilä. Management expects the LONO trial will take around six to eight months to complete. The tests will require 25,000 tonnes each of bioMSAR and MSAR, which will be produced by Quadrise and sold to MSC."

Nice to see this race will be focusing on RENEWABLE ENERGY!

https://www.extreme-e.com/en/news/719_Extreme-E-launches-extensive-Legacy-Programme-in-Uruguay

Uruguay Natural Energy X Prix

https://www.youtube.com/@ExtremeELive/streams

dai,

Yes, the on-board blending would be to fuel the vessel that the blending is taking place on.

The $500m is only going to be money the Government spend on infrastructure, for example, to connect the wells together and run a pipeline to the gas processing plant at Madimba.

Who will put up the money? In previous news items about the pipeline, the Government has been talking to investors about taking stakes in the infrastructure. This could be pension funds, as the $ return every year is a great guaranteed income for the funds.

dai,

From previous update by Edison:

The POC tests will take place on the Seago Istanbul, which was previously used by Maersk to carry out successful demonstrations of MSAR and is now owned by MSC. The tests will require 1,000 tonnes each of bioMSAR and MSAR.

Assuming the results from the POC tests are positive, MSC will then conduct lengthier trials (4,000 hours of operation) to provide commercial operating experience, potentially culminating in obtaining LONOs from the engine manufacturer, Wärtsilä. Management expects the LONO trial will take around six to eight months to complete. The tests will require 25,000 tonnes each of bioMSAR and MSAR, which will be produced by Quadrise and sold to MSC.

Provided that the fuel trialling process reached the interim stage of the LONO trial successfully, which would be around four months into the trial, Quadrise and MSC will negotiate a commercial agreement regarding the supply of bioMSAR and/or MSAR for use by MSC. The two companies also intend to trial Quadrise’s ‘Blend-on-Board’ solution in which the fuel is manufactured on-board a suitable MSC vessel using a miniaturised processing unit.

AKHM,

Yeah, fickle short termers, grass is always greener sorts, better off without them, bring on the ii's with their ESG money!

From the presentation slide #15

"Excluding discretionary project costs, the current spend rate of £240k per month (fixed plus development costs) is sufficient cash until end of Q4 2023"

So many pointless questions on the meeting about funding, when QFI won't even be looking at that until at least the middle of 2023, by which time QFI should have two commercial sales agreements in the bag, potentially a third, plus the MSC PoC will be completed and LONO(s) about to start.

Nice to see JM confirm what I said on here very recently, and that is to say QFI are not looking at fundraising anytime soon, as they want Morocco and hopefully Utah revenue streams in place prior to looking at any need to raise any funds, as they know that will get any such funds at a higher price and much easier to get ii's taking placings (listen to what is said about ii's).

https://www.investormeetcompany.com/investor/meeting/post-agm-investor-update-and-qa

FYOZ,

Spot on. Glad that someone else understands the situation for what it is.

Fact is, we are where we are, and where we are is doing the Morocco trials in December, then signing them up for our first ever fully commercial revenue stream.

I see some selling, i have seen that same after every AGM regardless of where the company stands in its pursuit of commercial revenues, and a few days later the buying returns when the sellers FOMO returns to haunt them LOL!!

Nice find! Thanks for sharing!

If cut out as much as I can, to leave basic bullet points if possible:

Quadrise expects to achieve commercial revenues in its current financial year.

Morocco.
Demo scheduled to be completed next month.
Fuel supply agreement discussions expected in Q1 2023.

MSC
POC planned for H1 2023
LONO after POC
Expect to commence discussions for commercial supply to MSC's fleet in H2 2023.

Utah
Targeting commercial agreement by the end of January for MSAR® and bioMSAR™ trials as a precursor to commercial supply during 2023.

Americas
Advancing discussions in Panama and Honduras to trial MSAR® and bioMSAR™ at power plants in H1 2023
Potential commercial supply agreements later in the year.
Joint discussions with a large refinery in the Caribbean with an interest in potential MSAR® supply

bioMSAR™, bioMSAR Zero & RDI - Testing of glycerine-based bioMSAR™ in relation to the MSC project has been successfully completed by Wärtsilä and affiliates at test facilities in Italy.
Final test reports are expected before the end of 2022.
Aquafuel diesel engine testing on bioMSAR ™ and other fuel and biofuel formulations to support the new Quadrise Blend-on-Board solution is also scheduled to be completed before the end of the year.

JM "The pace of decarbonisation and the escalating price of energy is creating a significant opportunity to commercialise our innovative fuel and biofuel solutions, as they offer clients the ability to reduce energy costs and greenhouse gas emissions immediately to help them accelerate the transition to net-zero."

"The Company is entering a notably exciting period, with the progression of our core projects expected to deliver commercial revenues in the current financial year."

"The initial industrial demonstration test is now scheduled to be completed next month"

'Completed', not 'started'. If it hasn't already started the. surely they would have said 'started'???