Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
What do people think of this new Air Products project called Neom. I post extracts from an article below.
OD
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Air Products, a producer of industrial gases has signed an agreement with ACWA Power and NEOM to build a $5bn green fuel production facility in Saudi Arabia.
The new facility will be powered by renewable energy to produce and export green hydrogen-based ammonia to global markets.
Equally owned by the three companies, the project will be sited in NEOM, a new model for sustainable living located in the north west corner of the Kingdom of Saudi Arabia.
Air Products chairman, president and CEO Seifi Ghasemi said: “We are honored and proud to partner with ACWA Power and NEOM and use proven technologies to make the world’s dream of 100 percent green energy a reality.
“Harnessing the unique profile of NEOM’s sun and wind to convert water to hydrogen, this project will yield a totally clean source of energy on a massive scale and will save the world over three million tons of CO2 emissions annually and eliminate smog-forming emissions and other pollutants from the equivalent of over 700,000 cars.”
The facility is planned to commence operations in 2025
The facility is said to be the first partnership project for NEOM with international and national partners in the renewable energy field.
It will have the capacity to produce 650 tonnes per day of hydrogen through electrolysis using thyssenkrupp technology, powered by more than four gigawatts of renewable energy from solar, wind, and storage.
The plant will also produce nitrogen by air separation using Air Products technology and produce 1.2 million tonnes per annum (Mtpa) of green ammonia using Haldor Topsoe technology.
Air Products will be the exclusive off-taker of the ammonia produced at the plant.
The company plans to ship the ammonia around the world to be dissociated to produce green hydrogen for the transportation market.
The facility is expected to commence operations in 2025.
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Am I missing something with this list. If I quickly glanced at the list and viewed the stated P/E rations then at 24 for HUM I would skip over them and look at the others where lower P/E ratios must surely mean greater potential SP upside.
OD
Hi, you mentioned the lack of SP progress in your interview. Pretty much every time Leon does an interview like this he mentions their debt funding facility. However, within a few days a privileged placing comes along; little wonder the SP does not rise. He made it clear the balance sheet is strong so you would expect debt funding to be more accessible. Then there is the small matter of no mention of a dividend, despite making shed loads of cash.
Perhaps at the next interview you quiz him on this further.
Olddrongo
TBTT, ARX may not have the money at present but with contacts like Dattels [involved in setting up ARX] they could probably raise enough cash, bearing in mind they would be getting a cheap deal compared to the yearly cash generation capability of HUM. Also, the revolving 5 year LOM has also not sat well with me because it acts to suppress the SP. Now the reluctance to pay a dividend is also a concern.
Not familiar with the Avesoro scandal but I did get caught up in the XEL and SXX scandals. I guess I'm learning not to trust any CEO's!!!
Just fore the record I have approx 100k shares in this mob and am currently agonising what to do.
# So the management have just hived off 49% to ARX relating to Dugbe, a private company from the BVI.
# We have the Kouroussa aquisition
# we also have a director dealing
# we have massive cash generation
So why is the SP not higher. Why am I not putting in loads more dosh?
What if there is another production setup [aka pit wall collapse / rainly season cutbacks etc]. The price will tank. Que ARX for a cheap takeover bid. All that lovely cashflow goes to a private company rather than those pesky shareholders. Dan has a much bigger holding in ARX than he does in HUM.
Just my silly musings but is it remotely possible?
OD
The RNS tells you about ARX. Betts et al have 39% of the private BVI company. Dattels is a wheeler dealer that gets involved in many dubious transactions - POL - GCM etc. I just don't trust Dan now. I will probably look to exit HUM when / if the SP recovers a little.
Am I missing something or has Betts just taken 49% of Dugbe into private ownership. My gut feel suggest that Betts is deliberately keeping the LOM low and hence the SP low to maybe allow ARX [a BVI private company founded by the infamous Dattels] to do a full takeover of HUM into private hands.
Surely being able to move the fine chrome process plant demonstrates JLP's business model flexibility - far more nimble than a traditional mining company. I think they should consider packaging up as much new kit as possible to make transfers to new sites with more abundant tailings that much easier in the future.
OD