RE: Is there no one else26 Jun 2024 19:19
I've been looking in to this for my own benefit, prior to committing to investing, so thought I'd share it. This is only my personal impression, I’m certainly not saying it is fact so please DYOR.
To me, it appears UHL conveniently have a named / branded company covering almost every market / aspect of the hydrogen industry; with a couple of duplications. A few seem to be more progressed and have employees; others appear to be shell companies with only a website and maybe not even a direct employee?
As an example - https://pwrh2.com/news/ – signed a deal with a Chinese Fuel Cell company for exclusive distribution rights. There’s one image on the website of the product (would expect a lot more), no sales info, no company reports, only one news story, no contact names, no updates, no PR and so on. To me it looks dormant.. There is however a buy it now button? The one news story reference the below:
“We are very excited to secure this PWRH2 deal”, says UHL Chairman Richard Allen” – thought he was head of NH2?
“….as it prepares to begin delivering products to market in Q1 CY24” – where are the sales?
“UHL is targeting $US500m in revenues in year three and will seek to take PWRH2/PHGL public on a global securities exchange within the next 24-36 months” That’s a lot of sales, AFC are planning £27m over 3 years – the FC market is not yet that advanced!
“With the first generators expected to be delivered to customers in Q1 CY24” I guess not, as the news would be on the site?
“as it approaches an anticipated North American listing in Q4 CY23” – This was 7+ months ago
When you look at the individual company websites, they’re all built from the same Wireframe (including United Hydrogens); same design, menu’s, links, landing screens, pop-ups, information and so on.
The sites mainly appear to have launched in 2023 but very little in the way of updates on most. Here’s just a few of the sites:
https://pwrh2.com/
https://purebiochar.com.au/
https://nationalh2.com.au/
https://buyhydrogen.com.au/liberty-hydrogen-profile/
https://patriothydrogen.com.au/
https://iconicev.com.au/
https://freedomh2.com.au/
https://voyagerh2.com.au/
https://unitedhydrogenlimited.com/liberty-hydrogen/
If UHL are pulling together start-ups or already developed hydrogen sector companies then maybe these businesses would already have an address? Virtually all are registered to 15 Lime Street.
All very strange. Maybe this explains the delays from NH2 committing to placing an order. If PHE have done any due diligence on them, they’ll know this and a lot more; but appear not to comment. One for the AGM.
I don't know if AUS have the equivalent of the Companies House Webcheck service, but it would be interesting to see the names of all the directors, owners and people with significant control or shareholdings.
Of course I may have got this all wrong, so please DYOR