Investor day part 17 Dec 2019 11:37
Hi guys,
Having recharged my batteries overnight (no pun intended). I thought I’d put down my thoughts on the investor day. Some of what I’ll write will have been mentioned but these comments will be my take on things. Apologies if it’s a bit waffly and goes around the houses but I didn’t take any notes like some of the attendees, so this is recollections from my not-so-young brain!!
After a pretty early start, I finally arrived at the café a few of us has arranged to meet at. Those present included Doc7, chippy, Notes, Eddietheo amongst others. During the positive discussions it was clear that a few of us held a pretty substantial number of shares (in my eyes). After a cup of tea, we headed down to register.
There was a real fanfare for our arrival, loads of banners, people directing us to parking etc. This isn’t anything I’d witnessed before and came across far more professional than anything I’d seen before. We were directed to a band new unit that AFC were borrowing to make space for the presentation and demonstration. Fortunately, it was a little warmer than the previous days presentation which was nice!
As entering we got the first glimpse of the EV system which looked awesome and was hooked up to a couple of cars including the new Audi E-Tron.
After registration and a cup of tea I sat down with BB and Doc7 to listen to the presentation.
There were a lot of slides which were very informative and some of the points I gleaned:
EV market is growing exponentially. 180k last year, 420k projected this year in UK alone.
Their supply chain is very robust with De Nora and advanced plastics in a position to deliver components as required. MSP supply the battery element.
In house construction is the initial plan and they feel they have the capacity to deliver on early orders but if orders come thick and fast then outsourcing would be required but that is a good problem to have!!
It is very important to note that our national grid clearly has the capacity but it is the local providers or DNO’s that have the problem. Billions need to be spent to get this aspect up to speed to keep predicted demand covered. An example was given of a company who had requested upgrades to allow a project to happen but the local DNO has stated it would take 7-8 years to make the needed upgrades. Clearly AFC are of huge benefit here as they can produce off grid, bypassing the need for these upgrades.
A very interesting stat was given, the average UK home electricity usage was approx. 0.5KWH, having 2 Teslas speed charged at one time draws the equivalent of 500 homes average use!! This is a staggering figure and demonstrates the importance of having alternate solutions to the local grid.
The great thing about the AFC system it is completely flexible and can be made bespoke for any customer depending on their requirements. It is not complicated to configure as the fuel cell and battery system is modular and I guess a bit like putting Lego together!
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