RE: RNS24 May 2022 16:09
It's another 'read between the lines' message from this incompetent BOD.
It has finally arrived at the conclusion Peel and Protos are not fit for duty.
The have masked the necessity for this TIC in the need to 'show customers what it can do'. This means, to date, with all the BOD's bluster over the past 4,5, 6 years, it has not generated any interest in DMG. It has, like so many deluded posters on here, gone down ' we are a Hydrogen producer' path. The market for H2 already knows where their H2 is going to come from, Electrolysis and SRM, using 'green' electricity.. The BOD should have stuck to the script and sell DMG as a 'green method or removing waste plastic from the environment, with the benefit that the products of DMG, syngas can be used for electric generation, and with plant add-ons, H2 can be produced. Very simple.
It has also finally arrived at the conclusion that FOAK is better built in-house. FFS, why didn't it do this 2, 3 years ago when the DMG would probably have cost 50% less than now.
Where is the cash coming from to build this ITC. It will either have to raise capital from S/Hs, or II's at a massive discount to an already beleaguered SP , or knowing the incompetence of this lot, 'seek a partner', with all the associated Peel problems. The PHE BOD, 'Bordering On Disaster'. Incompetent.