Member Info for Piltick

I'm looking forward to the next update about the partnership or relationship with Multi Source Power for sales of the hydrogen generators to replace diesel generators. It seems to me that the appointment of Multi Source Power was a good move.
http://www.multisourcepower.com/products/land-based-power/

Interesting!

I get the feeling that this major client is in financial trouble, because that is the only reason that I can think of to explain their exceedingly bad behaviour. There must come a point when you have to consider if you really want a customer who does not, or can not, pay his debts. I suspect JP is just about there now. I would suggest that we name this major client (I see no further reason to protect his anonymity) issue court proceedings immediately, ditch him and vigorously pursue the search for another major client.

I would really love to know who this client is!

TBH, stockey, I don't really think it's a case of either one of them "winning through". There will be enough in the market for both of them if they play their cards right. They may both be in the market to produce hydrogen for vehicles, but they are really two different animals, producing hydrogen from different sources, and delivering it in different ways, and in different places. So I don't really think that either one has anything to fear from the other.

Thanks for that encouraging post BB, we need to be reminded of the real positives from time to time. I was also encouraged by the following statement in their recent RNS:
- Appointment of Multi Source Power Limited, a leading UK developer / supplier of on and off grid hybrid power systems.

In his presentation at the World Waste to Energy Summit in May, DR said that he expected planning to be submitted "next month" i.e. June, with permission in September.

Also, in his interview on Proactive on 18th July, he said that he would give an operational update at the AGM. I assume he meant immediately prior to the AGM on 14th August.

I absolutely and entirely agree!! I have been saying for some considerable time that I think it is disgraceful that the UK (and others) is sending their rubbish to other countries for disposal instead of finding proper solutions for the disposal of their own waste. It is really disgraceful and irresponsible behaviour.

Plans have been submitted for more than 500 homes on the outskirts of Aberdeen , some of which could use "pioneering" hydrogen fuel cells:
https://www.bbc.co.uk/news/amp/uk-scotland-north-east-orkney-shetland-49095985

The article doesn't actually say how the hydrogen fuel is to be distributed, nor does it say who's fuel cells are proposed for the project.

Itsallbull, there is potential for FC generators in all industries that currently us diesel generators, providing the cost and convenience of use is at least equal to, and hopefully better than, using diesel generators.

Of course the main advantage of FC generators, for everyone, is that they don't emit nasty toxic fumes and smoke.

All that we need now is for someone at the Stock Exchange to get the decimal point in the correct position!

Extract from a letter issued to shareholders on 28th June (see BRD's web site):

"I am writing to inform you that an Annual General Meeting of the Company will be held at 10am on 25 July 2019 at the offices of SP Angel, 35-39 Maddox Street, London, W1S 2PP. In addition, the Company also announced today that it is proposing to implement a Capital Reorganisation comprising a consolidation of every 500 Existing Ordinary Shares into 1 New Ordinary Share of £0.05."

I thought consolidation required approval by shareholders at GM?

The points that I find most encouraging are:

- Appointment of Multi Source Power Limited, a leading UK developer / supplier of on and off grid hybrid power systems

- successful completion of an 18-month Ammonia to Power ("A2P") project and confirmed plans to conclude work on the engineering of an integrated, scalable ammonia fuelled clean power generator - interest from international OEMs

- Longest continued operation of electrode pairing delivered under the De Nora / AFC Energy Joint Development Agreement, now approaching targeted longevity targets (evidencing between 3-4 years longevity on extrapolated basis)

- Concluded initial engineering in advance of finalising detailed terms for supply of a fuel cell system into Southern Oil's Gladstone Refinery.   

and Adam Bond’s comment:
“…the potential for the steps forward in the use of ammonia as a lower cost fuel for point of use hydrogen generation…”

In his latest interview on Proactive, David Ryan stated that he would give an operational update to the AGM. I assume he meant immediately prior to the AGM, which is to take place three weeks today on 14th August.

Aberdeen's hydrogen buses - the city at the forefront of technology!

I think the point is that the DMG process doesn't produce oil or tar or sticky goo, but a syngas with a high percentage of hydrogen.

I'm quite sure that the CEO knows more about IP rules than I do, so I'm happy to leave it to him.

I've been in this since 2015 and was sitting with an average price of 75p. Had a small top up this morning and brought my average down to 11p. I think there's a chance I'll get back a good chunk of my original investment, but perhaps not all of it.

98889: Extract from the RNS dated 27 June:
Intellectual Property

"The research and technology development IP is protected within the chemical engineering models and control systems of the process and the Company has been particularly focused on retaining this unique knowledge within the teams. In project development these algorithms will be retained with control equipment that remains under the ownership of the Company.

"Notwithstanding this specific knowledge retention, the Company has chosen to protect the IP within a family of generic and specific patent applications. These will mature in parallel with the development programme ensuring that the know-how developed through the engineering, commissioning and operation of the early DMG sites is captured to provide a greater depth of IP and patent protection."

Yellow: PHE own the IP, and PHE will receive 20% of the net revenue from all projects as a licence fee. And that is without having to invest anything towards the capital expenditure of the projects. If they do decide to participate in any of the SPV projects, then of course they will get a share of the profits as well.