Member Info for ICL1960

Greedy management wants to grab the money for itself.

Cosy up to rich private equity company, call it Vulture Fund, to hatch the plot.

Create a distressed company by sabotaging the FAT3 test.

Vulture Fund walks in, announce a bid, buys CPH2, with patents, employees and everything.

Let us say the company is worth 70p, if the FAT3 had passed.

How much would Vulture Fund offer existing shareholders?

1p?

2p?

5p?

10p?

If they offer too little, long term shareholders who bought in at 40p+ could make trouble by calling foul, and insist on a fraud investigation.

What if Vulture Fund offers say, 15p+ , to save themselves an investigation?

Six month later, MFE220 V2.0 passes FAT3, and they can sell CPH2 for 70p,

making 55p. They will have to stump up a big fat bribe for the management, and some shut up money for the engineers.

I think BBC Panorama might want to know.

Channel 4 Dispatches?

Sunday Times?

Tell FCA? That will make sure nobody is charged. 😢

Literally, it's going to be a fire sale.

If it's fraud, they already have a buyer lined up to take over the company, for peanuts.

Under new ownership. they make another MFE220, call it Version 2.0 .

Version 2.0 passes all the tests. The new owners get filthy rich.

If the insurance pays out, the FAT3 damage is at negligible cost.

We need a whistle blower from the company.

It will be very fishy if they all keep their jobs, and get a keep your mouth shut bonus.

As at close on Tue, 26 May 2026

https://www.stockchallenge.co.uk/ftse.php

Today Market Cap: £4.37b

By my count, it's 86th now.

We shall see if the share price gets a boost from the promotion.

"Hahahaha. Well I guess it’s all relative to what you brought in at."

There weren't many shares to buy before the FAT3 failure.

Perhaps it's a new tactic to tease punters.

You refuse to let people buy any, to get them salivating.

Total guesswork and speculation now.

Assuming they use different combinations of cathodes and anodes for sea water, fresh water and waste water.

Further assume they use different waveforms (sawtooth, square, as seen on an oscilloscope) to electrolyse.

Further assume they customise/optimise the combination for local conditions.

The electrodes will probably corrode and fail if the combination is wrong, sooner than later.

Let us say the electrodes are supposed to be swapped out every month any way, and the control system is designed to detect deterioration and shutdown accordingly.

This means there is a chance of plugging in the wrong electrodes every month.

A good engineer would insist on automatic configuration cross checking, so this is automatically detected.

The control system will refuse to start unless the conditions are right, including software.

A petrol chemical engineer told me, they always build refineries in horrible backwaters, because nobody wants to live with a refinery in say, the Cotswolds. This means even the engineers only ever go when there is a real problem, and then they get out quick. So who actually work in these plants? Locals who had terrible schools, and can barely read. You need to build systems to pro-actively prevent mistakes.

If they solve the problem, get the funding, and then lift the gates, see how it rockets.

Assuming it's just operator error, so there's nothing fundamentally wrong with the technology, I will chip in. A warrant at 10p a share sounds good.

" I will definitely be buying when the sp tanks."

https://www.londonstockexchange.com/stock/CPH2/clean-power-hydrogen-plc/company-page

Set the timescale to Max

31 March 2022: 70p

Has it tanked enough?

Got it.

Date Source Headline

30th Mar 2026 7:00 am RNS Operations & Trading Update

"Looking forward, the Company expects the second generation of its 1MW unit, the MFE220 Mark II, to complete FEED (Front-End Engineering Design) by December 2026, with final design in 2027 and first build in 2028."

"Separately the Company is targeting to finalise the concept design for its first 5MW MFE unit in December 2026, with FEED to complete in 2027 and final design in 2028, with market leading efficiency of 48kWh/kg/H2 targeted."

https://youtu.be/HH37JTBpi2A

Keep taking that MFE220 apart until it sings Daisy Daisy the right way.

https://youtu.be/H6O1NRs-YuU

What if the engineers linked in Claude Mythos to be the control system?

And the instructions were unclear?

All in all, I still have the greatest enthusiasm for CPH2.

You mean there is a

Gen 1 MFE220

and a

Gen 2 MFE220

All sounds good to me. Something for next year.

For MFE110, there were Level I, Level II and Level III FATs, and then Level I, Level II and Level III SATs.

Any engineer would expect hiccups.

What does it matter if there's a failure at Level I, or iI or III?

I expect hardware module A needs software driver X, during test 7, and when they moved onto test 8, they plugged in hardware module B, but forgot to select software driver Y.

Suddenly, the bright spark who told everybody we need built-in module ID so the software can auto-detect hardware mismatch can scream: "I told you so, but you just didn't listen."

The screen should just report something like : "waste water module not found, shutting down."

Instead, the machine probably just carried on using the wrong waveform until the anodes/cathodes perished.

The ironic thing is, the eunuch money pinching vice president who vetoed the good engineering to save money will blame the good engineer who knows what they should have done for not doing his job.

When the revolution comes, all the MBAs will be shot.

"They have also been developing a second gen MFE220 unit so will now learn what not to pass onto that unit in terms of configuration."

You appear to think the RNS says the FAT for MFE110 failed.

7th May 2025 11:23 am RNS Site Acceptance Test for MFE110 electrolyser

"CPH2, the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased to announce that Level 3 of the Site Acceptance Test ("SAT") for its MFE110 electrolyser at Northern Ireland Water's ("NIW") site in Belfast has been successfully completed."

MFE110 is operational in Northern Ireland.

Everybody was waiting for the FAT3 result for MFE220.

if it had passed, we would be staring at 30p+ for the share price

No more cava, Cristal please, sommelier.

Well, carry on with the regular restaurants without the Michelin stars.

Believe it or not, Simpsons in the Strand does not have a Michelin star!

In my universe:

1. MFE220 passes FAT3

2. Simpsons gets one Michelin star

Not. two stars, they will get big headed, and double the price.

By the way, item 1 pays for item 2 above. 😉

🍾

Today is jinxed. If I was Jeff Bezos, I would be thinking what if we launched that rocket tomorrow instead.

Weekend is overtime, so it costs more, that's why we go on Friday?

The point of FAT3 is we test the equipment before we ship it to the customer.

Unlike UK property developers, who know full well there are defects left, right and centre,

and who just want the home buyer customer to discover the snags after moving in, these FAT tests are just one in a whole sequence of real checks, before the plant is finally operational.

They are using the word error, as opposed to explosion, so I assume the FAT test goes through a number of configurations, and somebody messed up. Wrong components, wrong connections.

My car mechanic once worked on Marconi's Nimrod program, so he was very technically minded.

A customer swapped car with him, because his Mercesdes SL kept conking out.

He went away with the mechanic's Toyota, which was very reliable.

The mechanic managed to get the Mercedes manuals, and found the answer after a few months.

Mercedes has variations of the same engine, and depending on the configuration of components,

there is a different engine management card. They all look the same, it's just the Part number that is slightly different. For example:

Turbo EMU : 123t

Kompressor EMU: 123k

He worked out which Part Number to order, swapped out the wrong EMU card, and the SL purred like a kitten.

Coming back to our FAT3. It would be a poor business plan to assume you will never have snags.

If CPH2 keels over as a company, just because a test failed, it doesn't deserve to be in business.

Find out who did it wrong, give him thirty lashes, and move on.

13.48p automated quote for 100,000

No automated quote for 200,000,

"We have been unable to obtain a live quote at this time.

You can continue with your order at market best and one of our dealers will attempt to manually execute your order, or you can amend your instruction and submit a limit order."

Market Cap £4.42b today

It's more like 85th now.

Tested a 300,000 buy, about ten minutes ago, could not get a quote, but can go dealer negotiated.

Tried 100,000 buy, got an automated quote.

Now 100,000 has no automated quote.

Water water everywhere, but nobody will sell you any.

Let's be OPEC, like in 1973.

Call me Faisal.

Make Market Makers sweat.

Https://www.brusselstimes.com/eu-affairs/2142512/eu-okays-germanys-e1-3b-hydrogen-push-promising-deep-co2-cuts

"Germany’s scheme is expected to support construction of up to 1,000 megawatts of installed electrolyser capacity — equipment that uses electricity to split water into hydrogen — and the production of up to 10 million tonnes of renewable hydrogen."

The current episode of Tech Now, In the middle, 13~18minute.

Work in progress.

Https://youtu.be/RLySXTIBS3c

What we need is Jamie Lee Curtis to steal the FAT report.

Shares in Issue 1.79b

Market Cap £4.20b

https://www.londonstockexchange.com/indices/ftse-100/constituents/table?page=5

Sort it by "Market cap (m)"

Https://youtu.be/ByYDzBKgH4o?list=PLJp9ZvWfVifPkZZhQbd3r3zc7RrQ7Ul7y

You think you are safe, having set up a stop-loss, then the market maker comes along and it blows up in your face.

FTSE100 promotion, please.

My original post:

"Yes, you get the first 2.68p dividend straightaway, but if you buy at £1.01657,

and then sell today at 98.45 today, what have you gained?

If the intention is to hold long term, it make better sense to buy at 98.45, so the dividends give you higher yield?"