Member Info for Piltick

Pat, I expect that the first use for a DMG at Protos will be to generate electricity, with the hydrogen production to come later when the HGV fuelling station is built. That was the plan laid down a couple of years ago.

But I believe that the main delay factor for the construction of the DMG at Protos is the plastic feedstock, which will come from the waste plastic sorting and recycling facilities, and as far as I know they have not started to construct these facilities at Protos yet.

V-it-is: As far as I'm aware Peel didn't put anything into the SPV except £1 share capital to register the company!
So yes it does look pretty poor especially as Peel is presently 100% owner of the SPV (with its one share) but on the other hand bear in mind that the £3.8M is a short-term loan, not an investment into the SPV, and it is due to be repaid by 31st this month. Also, PHE are earning interest on any part of the loan that has been drawn down by the SPV.

But having said that, there is hardly justification for a drop in the SP to 18 when the placing was at 22. It would seem to be oversold now although I haven't got the nerve to buy any more!

This company has become a bloody nightmare.

Well if PHE do that DW, then I would think that their chances of getting repayment would be considerably reduced!
I expect that when they come to Financial Close for the SPV, then the £3.8 million will become part of PHE's shareholding or contribution to the SPV, to be matched by Peel as it's on a 50/50 basis.

DW: The loan of £3.8M was given by PHE to the SPV company, to be repaid by 31st March. I don't know how much of that has been drawn down, but whatever amount has been drawn will have to be repaid or the loan extended. We will know by the end of next week.

That was my concern as well Jim, doesn't bode well for Italy I reckon. Hope I'm wrong.

As they have only recently confirmed Petrofac as the contractor for the building and installation work it is unlikely that Petrofac will have given them a price for the job yet, so PHH-Peel won't have been able to finalise the total capex for the SPV.

We'll have a better idea about what's happening by the end of this month. That's less than 2 weeks from now.

Whatever kind of agreement they end up with between PHE and Peel, it is essential that PHE has the right to enter into a JV project with waste management companies and local authorities, which they would be unable to do under Peel's exclusivity agreement.

That was my thinking as well Bert.

This doesn't sound like AFC fuel cells to me.
https://fuelcellsworks.com/news/megawatt-fuel-cell-powers-electric-race-cars-at-extreme-e-saudi-arabia/

Correct sharesport.

Good news! Progress!

That's about the most sensible comment I've read from you, Tatty!

I still think Protos will be the first FOAK, but they really have to get the finger out.
In two weeks we should know the outcome of Peel's exclusivity agreement, the outcome of the repayment of PHE's loan to the SPV, and the outcome of the JV agreement between PHE and Peel for the Protos SPV. But I don't expect to get confirmation of Financial Close for some time yet.

Let's hope it doesn't escape from the lab like the Covid virus!

I wonder why there was a delay of several days in sending out this RNS?

Why do people clutter up this BB to conduct their personal arguments and spats? What about having consideration for the rest of us?

I thought so!