Member Info for Westy54

Don't be an 4rse Ade, this tech has already been proved in trhe MariNH3 project and will proceed very rapidly from Proof of concept (It already has been proved) through to Design and Develpment and hopefully production

Actually Ade it is what some retail investors (Holding millions of shares) have been asking for, in a casual way for about 3 months.

It is brilliant news that AFC have a) listened and b) feel so confidenet about where AFC is at the moment that they want to officially demo all their solutions along with partners to their retail investors.

JW is a retail invetor in AFC himself, he holds about 7million shares in his or his family's name and he totally understands how retail investors think and what their needs are (Being different to Corporate investors)

I believe you are absolutely wrong in your assumption - this RNS is all about "We are ready (Or very nearly ready) to go to market" - my words, not JW's!

This is a very positive RNS - Good luck to us all

If any of you are seriously concerned, drop John an email, he is excellent at getting back to people, unlike previous management.

As has been said already the 6-9 month clock started last July, that takes us up to the AGM, normally towards the end of April. So far to date JW has delivered on time and under budget. The last time I asked about any news, he simply said, as a retail investor, no news is, by and large, good news, it just means that they are getting on with what they said they would do. The question is whether you believe him or not..... if yes, give them time, if no.... well then you don't trust the CEO and for my part I would question the logic of investing in a company that is headed up by someone you don't trust.

Another point is that we know the S+P JDA partner selected AFC and Hyamtec more specifically over their own in house cracker and after having carried out due diligence on one of our major competitiors in the US and they chose us. We also know that they wanted a cost per molecule for the hydrogen produced from our cracker before commercial discussions would take place. This has now been provided and the results were even better than AFC (Hyamtec) had hoped for which bodes well in any commercial negotiations.

What would be of benefit at the moment, whilst we wait for further news from AFC would be the publication of the UK Gov'ts updated Hydrogen Strategy and, even more importantly, for it to recognise Green Ammonia as a fuel source and as a carrier for H2 to be cracked back into green H2 here in the UK, like Japan and South Korea have already announced

I suspect our JDA partner (If indeed it is Air Products as we all suspect) might be waiting for that update before wanting to make any announcements ref Green Ammonia cracking from NEOM here in the UK.

That's my take. I am quite happy to wait another couple of months for news, and the prelim financials will be out in 3 weeks. Followed by IM on the 27th. Then, hopefully we will have the new H2 strategy, hopefully it will include allowances for green Nh3 (That is what the UK Ammonia Alliance was set up for after all) and then we can "Get Cracking" - pun entirely intended!

"You haven't been on this board for that long and I am wondering whether you are in fact John Wilson, Karl Bostock or Mike Rendall?" That was joke by the way, just in case some of you decide to jump on it and make it into something it isn't ! :))

ALittlebitmore, that's a good take I think and, whilst you may be slated for saying so by some, I agree 100% with you.

You haven't been on this board for that long and I am wondering whether you are in fact John Wilson, Karl Bostock or Mike Rendall?

Keep the positive, well balanced vibes coming, I enjoy your balanced posts.

Good luck to all of us, we are in Feb now, in 3 months we should have had the yr end figs (We know there will be no sales in there) the IM presentation and AGM, then it's time to rumble!

Https://www.youtube.com/watch?v=pplOropUODQ

That's a bit harsh CN. People have different rules when investing and if I had put in 300k at 8p it would have gained 100k by now. If that's in my ISA, I might be tempted to top slice that profit out this side of Xmas and let the rest ride.......It's not me by the way, just saying

Yes, 3

1. Proof of concept

2. Detailed design and development

3. Rollout

CN, JW stated yesterday that the cost per molecuile of H2 using the cracker has now been calulated and passed on to our S+P partner. As far as I am aware we now have not only proof of concept but also cost per mo;ecule and so the commercial negotiations can begin. How long they will take is anyone's guess. JW implied in the interview that was released yesterday that the original timscales stated last July of 6-9 months are still intact. He also stated that the cost per molecule had come in better than even they thought it would. He also implied that this vertical would be worth tens of miliions ("The latter" of the two options given by Charlie) in revenue per year as opposed to simply millions per year. 2026 is going to be huge for AFC anmd 2027 even more so in my opinion.

I seem to remember somebody saying that would be somewhere between 24 and 27p. It was calculated

You've kind of missed the point here guys, Air Liquide is not listed on the S+P so cannot be the JDA partner

Ha ha ha, yes ok Jen it is a bit of a stretch! :)

This guy has come ABB but I don't have a name.

This is interesting in that the new Strategic and execution officer has come from our analyst (Peel Hunt) and now we have a CCO who has come in from one of our customers. These people would not have made these moves unless they could see what the future potential of the company is.

£10 per kg

Sorry CN, can't post that, its personalised with me email address pasted all over it. You can register with them to get updates though.

I'm sorry Hamilton, are we reading the same RNS? I suspect not

LTH's won't care about that Stas.

The news that everything is on track is all I wanted to hear. Have you read the Zeus Capital Partners analysis?

The absolute position is that everything is on track and that is a huge relief.

You can all read the RNS and commentary for yourselves, I am not going to cherry pick or paraphrase.

For me? It is just what I wanted to hear, progress being made, everything on track and the Zeus Partners note on the release is similarly favourable.

Confirmation that the ICL will start delivering revenues from Q1 2026 and that the JV will be purchasing the 4 Hy-5 units that some of the cash from the July raise was earmarked for.

Containerisation of the Hy-5 unit

There was also talk of another big JV back in July but those discussions had only just begun so an update on that would be good.

Would also be good to know where TAMGO are at after the H2 series success. I would hope that they may start placing orders in the New Year for the new fuel cells based on a TCO cost reduction of 85% and ready to take delivery 2nd half of next year.

IMO Acciona is a red herring, ignore it for now.

Update on performance at Hole Farm and Brett aggregates would also be most welcome.

As you say though, a confirmed order pipeline is what we need but we won't get that yet, give that another 6 months. This is so important as we will run out of cash before we hit positive ebitda, scheduled for the last couple of months of 2027 before we see forecasted revenue jumps in 2028. If we can provide forecasted revenues from orders and sale of H2 as a fuel from the crackers we may not need another raise and consequential further dilution, but I am not holding my breath on that.

If that's the case Aldy, you should also be in Poolbeg?

No, the strong hope is that is will be Air Products