Member Info for Tatty99

Divvyup, Paul was pretty clear that he will continue to solicit opportunities and provide engineering services to anyone that needed it. They will of course engage with potential customers who may pay for their feedstock and or outputs to be tested, so I would guess when Bridgend is fully operational more opportunities could arise.

Having said that they did not expect revenues to be such to keep PHE above water.

They will also relocate the old demonstrator from Thornton Science Park to Bridgend it may be useful for other testing or just fill up the space.

Moab, Paul did describe how he intends to evaluate a wider range of feedstock beyond tyres and waste plastics. For example waste oils/liquids and textiles. Remember HUI has a textile supporter in this space. He also described how he intends to investigate a wider range of outputs such as SAF, but ultimately its what's contained in the output syngas generated from the specific feedstocks. It all sounded very positive, but will no doubt require a significant amount of research and testing.

The AGM was poorly attended by private investors. I think there were 3 plus Howard and Aleksandra were also present. In my view, committed investors should make the effort to attend. No surprise Keith did not attend.

Protos (and also other projects) was described as a chicken and egg situation. i.e. there is no point building a system until there is a demand for the output and a contract for feedstock supply, and customers won't commit to buying the output until they know there is a system that can produce it. In other words don't expect anything to happen at Protos any time soon. Other projects at Protos are also way behind original schedules so PHE are not alone in that respect. Assuming it is to be built at some point the estimated cost is £50m. Funded via the project finance model.

The view was that the Hydrogen demand market is still in its infancy.

Other 'projects' in Northern Ireland and JV with HUI in Eire all all proceeding slowly due to endless red tape and bureaucracy. Apparently its worse in Poland but progress is being made.

They are still talking with National Hydrogen but they don't want to spread themselves too thin and concentrate on existing projects.

Hence the main current focus is on the Bridgend demo/feedstock test system. If people can see it works they will be more prepared to commit to it. If they can see it they will believe. That's it.

Paul Emmit did say he would arrange for investor visits to the demo system next year when it is commissioned and running, sometime if Q1 2025.

Engsolve will continue to provide engineering services to third party companies as they have always done.

I think Howard White was paid £60k for consultancy and don't forget Paul D-D was paid £251k for his brief CEO role. Money well spent?

Protos is mentioned in passing. But the main message is all about the Technology Centre

“ The Centre will also help to support the Company's investments in capital projects, which are now moving forward in Northern Ireland and the Republic of Ireland as well as Protos. Considerable interest in PHE's offering is also being expressed in south-east Asia and Australia”

Paul came across very strong at last year AGM while Keith was kind of hinting he’d like to retire. So I’m not surprised Paul has continued his rise, and he is clearly now in control. The only thing which was puzzling me last year was that Paul had no shares in PHE.

Interesting to see that PHE are looking for Engsolve to generate engineering revenues to support the business drive for DMG projects, in a similar way HUI have the cannabis farm to generate revenue.

The cynic in me wonders if both PHE and HUI could eventually both drop the DMG, rename their companies and just concentrate on the revenue side businesses.

No mention of Protos in the Newsletter? Interesting to see the demo unit is still in Chester.

5% dilution is not a lot. 23% fall is. Chance for pi to get the same discount a the favoured few.

PHE up big, HUI down big. Very curious.

Current mcap of £19m in a sweetener market size of $98b, I think OPTI will be bought by one of the big players. Even if it were to rise to £100m mcap, it’s loose change for the DuPonts of this world.

Presumably when the patents are granted the goodwill/ip will increase in value to the benefit of the overall asset valuation.

It's a shame the interviewer didn't ask about what was the plan for Protos. It looks like that's been parked indefinitely for now until the 2 ton system is up and running.

Cannot trust the LSE buy/sells. My dip back in shows as a sell. Hopeless system.

Bang bang. Looks like some very big million plus sales so far today.

Can anyone explain what all the very low trade transaction volume/values are for? Like 1000 shares for £4.20. Seems insane.

Engsolve have had that Chester office for a while as it’s where the demonstrator unit is/was located.

Previous board members have not stuck around for good reason. Multi million shares have been sold for the same reason. This isn't going anywhere soon or if ever. The Protos DMG was supposed to start build by now.

Thanks and worth watching. I suppose it’s more kicking the can down the road until there is better demand for hydrogen. Meanwhile a mini DMG IS going to be built later this year in Bridgend. Sounds like Protos plot 10b will be growing weeds for the foreseeable future.

So are PHE moving the existing demonstrator to Brackla and tweaking it to become a mini DMG or are they building a new DMG demonstrator from scratch?

No mention of when or where the FOAK is going to be built. What do they mean when the Bridgend centre will be operational later this year? I just think that means the demonstrator will be shipped from Chester to Bridgend. SP will probably slide again.