Member Info for Piltick

Also bear in mind that TY clarified that when he initially said completion in 2023 he meant production of hydrogen by 2030, but that the plant would be operational and producing electricity before that, presumably in 2022. However, we await a detailed timeline to be announced, and hopefully Peel/PHE will produce that in the not too distant future.

The difference is, PHE doesn't use electricity for the grid, nor from windmills, to create hydrogen.

I must admit I never understood why PHE had to raise funds in order to give a loan to the SPV so they could order long-lead items, when in fact it is Peel, as "developer", who is supposed to be managing the SPV and all of the ordering and contractors' agreements.

And on top of that, it seems that Peel haven't put their share of the funding into the SPV. I think Peel owes PHE's shareholders and explanation.

You certainly won't catch me subscribing to TW's rag! But from the introductory paragraph I see that he is claiming credit for getting Tim the sack, so if he's happy now, perhaps he'll stop hounding PHE in his rag and call off his henchmen as well. (They are evident over on ADVFN, not so much on here.)

We'll have to wait and see how it goes with James Greenstreet and the new CEO. I'm certainly hoping for some changes in the right direction!

LedZep, I entirely agree with your post (Fri. 20:27). I am convinced that TY was the cause of DR leaving, and I had serious doubts about whether DR would be back as a consultant so long as TY was here as chairman. I now hope that we will see DR back in some form shortly.

I do find it rather odd that TY is getting a large settlement if he is genuinely resigning because of personal reasons. This settlement agreement leads me to think that his departure may not have been entirely voluntary.

Pablo: I think it is possible that the result of the court hearing that you mention could have played a major part in this.

Buys coming back in towards the end of the day.

Perhaps DR will come back now!

If he's leaving for "personal reason" then why does he need to get a "termination settlement"?

Thanks beachandsurf, that's very helpful.

Wasn't there some kind of partnership arrangement between AFC and Ricardo?

I wonder who is providing the fuel cells for these vehicles. Could it be AFC?

Perhaps it is AFC's fuel cells? I believe that Ricardo was developing a hydrogen internal combustion engine, but this announcement definitely says fuel cells.

It's the developers, or the SPVs, that might be eligible for any funding.

I'm not sure that turning plastic into hydrogen and electricity is truly recycling?

Well said Brokerlass!

I wonder why David Ryan's wife sold her entire shareholding in Engsolve. Perhaps she, and David, wants a complete break from PHE? I wonder if we will see David back as a consultant, or is there a complete rift between him and TY?

Just a thought.

Only comment I would make is that I believe Peel’s £10M investment in PHE is supposed to take place upon Financial Close which has a target date of 31 October.

I entirely agree with you z-cars, this should definitely not be politicised, and what makes it even worse is that forcing funds into "green" shares, many of which will fail, is not going to help one jot in meeting climate targets.

Hi Dave: Only 50%? We could do with 50% at Protos! But yes, the other 50% will have to be found by investors. I wouldn't be terribly surprised if PHE decides to raise funds to invest in Poland's FOAK SPV a well.