RE: Drifting down again!13 Apr 2022 12:33
Jim - thanks for sharing your view after attending the AGM.
I think also, the hydrogen economy has been slow to get any momentum. Looking back, we’ve discussed previously that the business model has changed significantly from the time many of us first invested here but we could all see the potential. Look how the hydrogen supply market has changed in that time - when we were previously looking towards waste hydrogen from other processes, we now have new sources of hydrogen from green/grey/blue electrolysis methods, ammonia cracking, methanol reforming plus other waste to energy methods that will all come to market in the near future, if not already available now. This hydrogen source change has therefore transformed the possible use cases into a whole new H2 economy that the world is in now acknowledging that we need and need right now as part of a diverse and stable energy mix. As a result of this, AFC are responding to the quickly changing needs of the many diverse markets that can adopt hydrogen. AFC have chosen to focus on some key pillars to get us commercial right now and this will be off-grid EV charging and diesel genset replacement.
Yes, we’ve waited a long time to get here and it’s been a frustrating journey for many of us, but I remain convinced that we have viable products to get us to sales and a pipeline of other major markets that we can focus on now for the other pillars such as data centres and maritime.
Yes, of course we need sales and hopefully with ABB firmly embedded plus the imminent delivery of Power Towers to our construction industry partners, we will get there in the upcoming months. So I’m happy to hold and may even top up when funds become available.