Member Info for Lutra

AFC's Patent No: WO2019069095A1 includes electrolyser claims, so they already have some IP in this area. The initial registration of a claim dates back to 2017.

https://worldwide.espacenet.com/patent/search/family/060326963/publication/WO2019069095A1?q=pn%3DWO2019069095A1
FUEL CELL OR ELECTROLYSER ASSEMBLY
Abstract
A membrane electrode assembly (8), suitable for use in a fuel cell or electrolyser, comprising: - an anion exchange membrane (4); - two catalyst containing layers (3, 5) each disposed either side of the anion exchange membrane (4), and; - two gas diffusion layers (2, 6), each in contact with one of said catalyst containing layers 3, 5), - wherein the anion exchange membrane (4) comprises a solid state electrolyte, - at least one catalyst containing layer (3, 5) comprises particulates of the solid state electrolyte material of the anion exchange membrane (4).

...that's simply a routine update to one of the original patents - the filing date appears to be March 2015.

Fatoomch, auditors reports the facts, but in the short-term a Board can change what these facts are, for better or worse. Plenty of companies manage to kick the can down the road, showing apparently satisfactory accounts until eventually going bust, but the opposite can just as easily be made to happen. And in the context of the potential time-frame for a take-over, audited accounts might not even need to come into it. This year's audited accounts will show the historic position, changes to financial management then provide a series of seemingly bad interim positions, depressing share value and market cap to a suitable level for an under-value takeover, long before the next set of audited accounts show a rapid and "unexpected" return to profitability.

I'm not saying that this will happen to TPG, simply responding to your suggestion that: "If SAG spend the next year running TPG into the ground with a view to picking up at a bargain price in October 2022, the damage done will be irreversible and they’ll be left with a dead duck." There are ways to get the bargain without the "dead duck". :)

Fatoomch, there is no end of ways that a malevolent Board can manufacture a short-term deterioration in the accounting position and results, without impacting on long-term company prospects. It would be as simple as altering the means of recognition for income or debt, or changing the payment arrangements for new contracts. They could even manufacture an over-trading, cash-flow crisis tomorrow, rendering the company technically insolvent. All of these would impact on share value with no real change in the true future value of the business. It's naive in the extreme to imagine that small shareholders will always get fair value in an aggressive take-over situation.

There's also an element of "Do I really need an iPhone 13 ProMax at £1400 or will an IPhone SE at £300 do me".

So if I am reading this correctly, SSE is planning to cut its dividend by about 25% in two years time, then letting it grow by 5% a year again thereafter? ...and this is described as attractive?!

"completion of current RPI linked dividend plan to March 2023
followed by a rebased dividend to 60p in 23/24 with attractive annual growth of at least 5% to March 2026"

Wow, some folks getting really confused here!

Today's news amounts to £2m revenue and a potential for £2m capital this year. The timing of the remaining two £1m revenue tranches and the take-up of the two £1m capital tranches is not set and may be next financial year or the one after (I'd suspect one next year and one the year after). Since ABB will have six months from now to take up the first Capital offer, then there is an outside chance that this is deferred to next financial year.

Secondly while this announcement is about the "S" cell, there is nothing in the announcement to suggest that ABB have given up on the "L" cell. It's a different beast, occupying a different niche and probably at a different cost. We are still to hear further news on whether ABB (and others) are going to go ahead with orders for it.

Chris, you are misunderstanding the deal. It is both £4m sale of fuel cell and £4m sale of shares. Both are staged at £2m now, with the rest as £1m + £1m later on.

Yes, the £4m + £4m RNS is great news for the longer term prospects of AFC and the ongoing development of the "S" Series cell. But perhaps the most significant line is:

"Order follows the successful integration trials of AFC Energy's "L" Series fuel cell technology with ABB's energy storage and high power EV charging platforms over the summer of 2021."

We still need the "L" Series to make money in the short term and this indicates that it is on course to do so.

If you go to the AFC website and look at their most recent press release...you will find that it is dated 16 April. So the lack of newsflow surrounding COP26 is just business as usual!

Well, it is Transport Day at COP 26, so you've got to say that today is the most likely time for any AFC related news.

FCI, I've only been holding AFC shares for just over a year and my average cost is 34p. My first tranche of AFC is at 250% of its initial purchase cost and that would be a good enough profit margin for most folks. I'm not looking to sell, but I understand why some people might want to!

At the risk of promoting one of the other AIM stocks that I hold.... https://ospreycsl.co.uk/casestudies/1185/

Lol! In my lexicon, MF was Massey Ferguson and thought this thread was going to be along the lines of the JCB one!

On reflection, though, I think I would sooner trust the tractor-maker MF for stock picks than the financial MF!

Ginny, I don't know what you were selling but there is a well-known approach where big-ticket items are show-cased with little expectation of on-the-day sales but big sales coming afterwards. You have to be at the show to get the sales. Ask any combine harvester salesman how many units they sell at the average agricultural show!

Bengalcat, Bilbo is simply quoting the price at currently is (or was when he/she posted). The presumption is that the market will already have had ample time to "price in" the effect of the fund raise, so the actual release of the shares should have no effect. The price movements since the announcement will have been impacted by both the dilution and the increased capital/future expansion. Whether the market has priced this correctly is anyone's guess, but there is no reason to assume any widespread rethink simply because shares are released.

e-UP? Is that made in Yorkshire?

Mr A, while you are correct about the lead-time on a nuclear power station, even a windfarm tends to have a nine-year lead-time. To go fully renewable (including vehicles and home-heating), the UK needs about three times the existing renewables capacity and it is going to be touch and go for whether that is possible in the remaining eight years before 2030.

As far as I can see, we need to manage that transition, which means encouraging the Haggii of this world to buy their EVs, while accepting that Cheekboy's 911 is still going to be a necessary, but declining, part of the mix.

ReoninV, Bamford is reckoning ten hours work from his H2 ICE digger, with 5 H2 tanks taking the same space as the original diesel tank. The nominal working pressure of the tanks on the refuse truck that I linked to before is 35MPa (350 bar) and I believe that is the same pressure that the JCB is using. I'm not sure what pressure you were using for your calculations, but I wonder if you need to recalculate for H2 stored at 350 Bar? As far as I can make out, filling at 350 Bar is the challenge - fine at a central facility for buses or refuse trucks, but more challenging on a building site.

This link shows the current use of hydrogen injection into a diesel engine: https://northsearegion.eu/hytrec2/news/hytrec2-road-sweeper-in-aberdeen-cutting-edge-dual-fuel-technology/

Of course the hype is all about the Hydrogen, with the diesel-use downplayed, but this is potentially very useful "bridge" technology on the path between fossil fuels and hydrogen fuel cells.