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DW - and that’s not personal? I’m surprised AB hasn’t taken you to court for the number of personal attacks on him from you !
So, another green filtered message from now or in your case about 20 filtered messages per day on average.
Absolutely DW, in order for there to be a lease there would have been a sale to the leasing company, unless of course AFC becomes a leasing company as well.
I very much hope that there’ll be sales to other partners such as ABB. But the discussion point really is that the end use company needs confidence that the product works before signing lease contracts or purchase deals and this is done via the trials that are now coming to fruition. That’s step 1. Step 2 of sales/leasing agreements will then follow, everyone here is hoping.
Morning DW - leasing is the word, not sales. That is going to be their focus. And in the meantime, as every company would do with a brand new product, they are going to try before the leasing companies (hopefully) buy. It’s a standard process.
What does “justify there market cap” mean?
Thanks Sturmtrupper….“BP Plc is taking the lead in the $36 billion Asian Renewable Energy Hub, a project that aims to install 26 gigawatts of solar and wind farms over a vast 6,500-square-kilometer (2,500 square-mile) stretch of Western Australia’s Pilbara region, and use the electricity generated to split water molecules into hydrogen and oxygen. Once fully developed, each year it would produce about 1.6 million tons of green hydrogen or 9 million tons of ammonia, which can be used to make fertilizer. ”
Interesting that they see the market in fertiliser but not that the H2 properties of the ammonia could be reformed to produce a huge amount of Hydrogen, far more than the 1.6m tons quoted. I think ammonia use needs far more PR than it’s getting.
DW - you quote an actual order. We have a new partnership with Kier for them to trial the fuel cell. I doubt very much that the lease terms for an initial trial will be anything like that if they were to place a multiple order lease directly or via a lease company. It’s too early to include financials at the trial stage in my opinion.
Excellent news and another great partnership. Well done AFC !
DW - don’t tell me that, tell AFC that they should have IR board member. I don’t give a monkey’s if it’s BOD or not as long as someone is in that role. Clearly, as a start up they don’t see it as a BoD role.
DW - Comms and Investor Relations is not a board level post.
I suggest you look at each of their profiles on LinkedIn. This will provide you with a potted history of their experience and the organisations they have worked for. I suspect we’ll all be impressed with their experience (otherwise they wouldn’t be on the BoD).
DW - let’s have a quick summary of our board members, excluding AB:
Gary Bullard - Chairman and NED
an experienced Chairman, non-executive director and executive with a successful international career in the Industrial and Information Technology industries.
Jim Gibson- Chief Operating Officer
30 years’ experience in operations management and business development roles within the engineering contracting sector
Graeme Lewis - Finance Director & Company Secretary
an experienced chartered accountant and CFO who has held senior positions across multiple jurisdictions in listed and PE backed companies, including some of the world's largest distributors of temporary and off-grid power systems. Graeme holds a degree in mathematics from Cambridge University.
Gerry Agnew - NED
regarded as one of the world’s leading experts in the field of fuel cell technology and systems following an esteemed career at both Rolls-Royce and LG Fuel Cell Systems Inc. Dr. Agnew served as Senior Fellow on the Rolls-Royce Council of Fellows, attending the Group Chief Technology Officer’s Technology Strategy workshops with the Group CEO.Dr. Agnew spent seven years as Chief Technology Officer and Chief Technology Advisor to LG Fuel Cell Systems Inc and prior to this, Chief Technologist of Rolls-Royce Fuel Cell Systems, Executive VP Engineering at Rolls-Royce Fuel Cell Systems and Chief Engineer Fuel Cell Systems at Rolls-Royce.
Joe Mangion -NED
a Chartered Accountant, brings to the Board over 20 years of operational experience within the environmental services and alternative energy sectors, including five years as an institutional investor and over five years as an independent consultant
Monika Biddulph -NED
has gained a wide range of experience in commercial, operational and technical aspects of international technology businesses during her executive career. Currently Monika is also a Non-Executive Director on the boards of D4t4 Solutions plc and Ilika Plc. She holds a PhD in Experimental High Energy Particle Physics from the ETH Zurich.
Sounds pretty experienced to me!
Totally agree Alt-muddle. We’ve said the same thing.
DW - you’re making yourself look like a complete fool now. Haggis has put some facts before us ALL that there is activity going on behind the scenes(we know this is the case anyway unless approx 150 employees are twiddling their thumbs).
Your credibility, or what was left of it has vanished in a puff of impure hydrogen!
Brigg- great positive posts, thanks. Oh, you’re first posts as well.
I think you’ll find AFC are aiming at trains and maritime rather than cars but you never know with AFC. Suggest you follow Heath23’s advice and press the sell button first thing Monday morning.
Haggis,
It was about 4’ square. Not small but smaller than the Power Tower and I don’t know what the power output might be for the Honda unit. With all the trucks and paraphernalia that was around the team there’s no reason why a Power Tower couldn’t become an integral part of their equipment especially if noise levels and definitely environmental considerations are to be factored in to TV production. There are probably hundreds of such film teams around the country at any point in time let alone the rest of the world.
I’d hope also that the FCs will become smaller over time.
Haggis- there was a film crew in Bristol last week filming on location for a tv series. There was a portable diesel generator pumping out fumes on the road outside the house they were filming at so absolutely, the Power Tower would be needed … silent, clean and portable. There’s an endless list of use cases where a Power Tower could be used. Very exciting! :)
And Covid has not gone. In fact I will need an FFP2 mask for my trip to Italy tomorrow (if the flight leaves that is).
Enjoy the bank holidays all. :)
Oh I used Swiss because you once told me you were from Switzerland
Wrong DW - by your analogy it would actually be 2 days as the other 2 days are the weekend.
Oh and by the way, UK public holidays usually = 8
Switzerland usually = 10
UK is certainly going to enjoy this extra day. ;)
But this is my point DW - behind the scenes we don’t know what TP has done. He clearly had skills that AFC needed at the time and, in my opinion wouldn’t have lasted 2 years unless he had achieved something and no doubt that would have included liaising with ABB, Acciona, Mace etc for getting those deals through. Yes, we don’t have mass sales yet that we’d all love to see but it’s too early for that yet until S series is deployable and we have a fully validated HFC and Power Tower in the field.
The fact that the company is expanding so rapidly suggests to me that AFC is gearing up for saleable products in parallel to developing new products and next generation products.
This is my view of the situation anyway.
Clearly we didn’t have the right product for Rolec at that point in time. Clearly ABB now thin we have a good solution for them.
It doesn’t preclude AFC from striking up new deals with other EV charging companies who need solutions.
I was listening to a YouTube recording for a Bristol Green group- the lady who spoke works with Bristol council as well as an EV charging company- she clearly stated that the grid will not be able to cope as more and more charge points are developed. The cost is simply prohibitive. As we move forward with more EV sales this situation will become a turning point for the introduction of off grid solutions in my opinion. The hydrogen revolution is only just taking off.