Member Info for Southerhay

A “prize plonka” indeed Barnacles

Agreed BB. Chairmen generally don’t run the day to Day company business. Their presence is more hands off but with regular meetings to keep abreast and provide consultation etc.

Southern Oil must have more information than you then 4x4. Oh and the Hydrogen Council, Stade, Dunsfold and ... DeNora

Hi Daz - is that a serious comment ? So when do you buy your shares, at their highest ?
I wouldn't mind building my holding again at these prices haha

Hi Notes. But if it’s the same buyer consistently buying 100k chunks then that’s different. They appear almost weekly. Hence my post yesterday

I'd like to know if these 100k buys are by the same buyer

HI Daz9643 - I don't disagree but my thoughts are Southern Oil wouldn't be looking at our FCs if we haven't moved on from longevity of 1 year, especially with De Nora involvement.

Yes it's an assumption and we probably shouldn't make any assumptions but what else have we to go on other than random pieces of the AFC jigsaw that have been released ?

So in essence, we are not yet commercial. Yet, we have the Southern Oil potential contract. The assessment currently in train may lead to a binding contract to supply our fuel cells. At that point we will be commercial and the design will be whatever longevity FCs we currently have developed or, by the time the infrastructure and BoP kit are in place we will have reached 4 year longevity). Everything now seems to hinge on the outcome of the Southern Oil feasibility study.

Totally agree with your sentiment Rooky - DW and many of us have said similar for a few years that AFC should be shouting from the rooftops about what they have been developing and the lack of PR is woeful.

I totally get that they may want to wait for the finished article before publicising extensively but to have virtually no presence in the eyes of the public and many potential industries who might benefit from a fuel cell is at worse negligent and at least arrogant !

Cheers Mucksy - to add to the list then :)

Apologies - 1. and 7. are the same of course

Hopefully a lot of news to come in Q4 !

Morning All,

For the avoidance of doubt, I have taken the following directly from the Half Year results RNS. These are the areas of focus and where we can expect updates....

The technology and commercial progression achieved by AFC Energy sets a solid platform for the remainder of this calendar year. In brief, through the course of 2018, we expect to:

· finalise the scope and scale of AFC Energy's fuel cell technology package to Southern Oil in Australia;

· confirm a decision on the final scope and scale of the Company's fuel cell deployment programme at Dunsfold Park;

· release details of one or more hydrogen technology licenses with third party technology companies with the prospect of one or more projects to demonstrate the integrated technology platform;

· execute a mass manufacturing agreement with De Nora ready for commercial deployment;

· make strides towards a four year operability of the electrodes with De Nora;

· continued progression towards further commercial fuel cell deployment opportunities and partners in support of this ambition across key target markets.

Some other quotes from the same document to substantiate the above:

1. Mass manufacture - "Following the successful validation of the engineering basis of design and the progress with De Nora we are now ready to engage with partners to progress the planning of mass manufacture of our fuel cell stacks and systems to meet growing demand"

2. Increase Reference sites - "Our immediate intention for the coming year is to establish a portfolio of commercial reference facilities serving different industries that will enable us to be more vigorous in marketing our technology platform to these new markets"

3. Alkammonia update following delays

4. Dunsfold update - another new hydrogen generation technology is expected at AFC Energy's Dunsfold facilities later this year

5. Diesel Displacement - "This is an extremely exciting part of AFC Energy's core business going forward and one in which we can be extremely competitive. Importantly, the barriers to entry and initial capital outlay for such projects are also far lower than conventional larger scale chlor-alkali projects, making early access to sustainable revenues more likely"

6. Electrode mass manufacture with De Nora - "the purpose behind this work conducted under the JDA is to position both parties such that the details of a mass manufacturing agreement can be finalised during the course of 2018. This is ongoing as we speak and it is expected to close this out in the near future."

7. Stack mass manufacture - "Following the successful validation of the engineering basis of design and the progress with De Nora we are now ready to ENGAGE WITH PARTNERS to progress the planning of mass manufacture of our fuel cell stacks and systems to meet growing demand"

I could see no reference to fundraising but happy to be corrected.

Hopefully a lot of positive n

turn it on its head 4x4 - you tell us why they would not achieve fundraise target. De Nora clearly think their investment in terms of their time/resources is clearly worth it to them and to AFC. We were sat at the Hydrogen Council last week - clearly confidence from that body of influential companies. So, just 2 very good reasons why a fundraise would be successful. As others have stated previously there are other ways of fundraising.

Hi 4444

You could have asked the sa\me question each fundraise that's happened. Each has been over subscribed as far as I'm aware

How could it be bad news ? If it was there's no way on earth Mr Bond would be sat at the Hydrogen Council meeting - he'd look a complete fool !

Hi Mucksy

Didn't the exact same thing happen this time last week ? + and - entries for similar values ?

Hi peterperfect - you appear to be on the wrong board

There must be a very compelling reason why AFC have been invited to this panel.
As far as we know, we are not fully commercial.
As far as we know, we do not know 100% how or where our baselined fuel cells will be mass produced.
We don't know the efficiency metrics of the current design.
We don't know where we will be an ESCO or whether the current plan is to sell units or a mix of both.
We don't know how competitively priced we are compared to other fuel cell manufacturers.

What we do know is that we have Southern Oil waiting for a feasibility study with a potential small order if successful.

We do know that there are other established fuel cell providers out there, who are not members of the Hydrogen Council.

AFC clearly stands out from the crowd and currently, we are not party to the reasons for us being invited to the party. This surely has to be a good thing. I for one am not selling my shares.
GLA

Maybe we'll eventually be taken into the main market. The hoped for Southern Oil contract should take this "to infinity and beyond" :-)

Hi Bitterblue1 - I think we all agree that this is probably not the news that we'd like to have seen however I see the implications of this initiation are quite significant.

There are some very big multinational companies in that group and the fact AFC are now part of this suggests AFC are SEEN to be a major part of the transition to a growing hydrogen economy. It provides much needed and growing confidence that the news we are waiting for is hopefully gathering steam. Cheers