Agree with you with hope and that milestones do not necessarily mean failure, it all comes back to human nature that will look at failure to update as probably bad news being hidden, even if that bad news is only a delay (where money is concerned anyway).
I also feel that the next phase will be contracts, it has to be this year, otherwise even those most positive will become disillusioned.
Hi Pond1, I tend to agree with you here, however it's complex. We have a company that has gone through an iterative development (hopefully now very near the end, if not finished) with a lot of hype and negativity thrown in along the journey for good measure.
The aim is to develop "a" cost effective product and along-side ensure there is a market that needs that product and then ensuring we have a mechanism to sell the product into that market.
Then there's all the periphery activities but equally important pieces of the jigsaw such as manufacturing of the product, setting stringent controls and governance, contracts with suppliers and potential customers, pricing, financial procedures and associated controls & governance, resources (people, offices, kit to run a growing company) to name but a few.
So, given the above I would expect AFC to have very detailed plans in place to achieve the above - it's a massive task and many fledgling companies fail to commercialise even though they have a great product to sell. This is why we need people in place with the right experience and energy to achieve our commercial goal.
Maybe we're now reaching a stage where a milestone plan can be shared with us ? We'd also have to accept that milestones are placeholders and failure to meet a milestone does not necessarily mean failure - other left field issues come and go that affect a plan or the initial estimate was incorrect in the first place.
Yes, we need updates and I'm sure we'll get these when we have a baseline position from which we can move forward. I'm also sure that AFC want to get to this position so that the next phase can begin - firm contracts !
And there lies one of the main problems with AFC, none update or following up of previous information.
Dates come and go and we are left in the dark. Of course,If these dates or timelines are reached with positive outcomes, obviously we are quickly informed, but if they are not, they are allowed to pass with what has to be an attitude of 'perhaps no one will notice, or what the shareholder does not know, won't hurt them'.
This is why many of us, myself included, tend to look at lack of updates as bad news or at best suspicion and negativity.
If a company wishes to receive trust, they have to reciprocate.
This prompted me to have a look at the AFC website which I have to say is really disappointing.
There don't seem to be any updates beyond early 2017 or am I missing something?
They're still talking about aims to be completed in 2017.
Whilst agreeing with you, I have found in the past that many companies do not inform their shareholders if/when MOU's lapse or are not taken up.
Information such as this should be mandatory under market rules, because after all it is sp sensitive, but until it is mandatory, companies will continue to leave their shareholders guessing.
I hope they finally get their @@ up, as they stated in their report, there are lots of places and industries crying for solutions. Next to Waste Hydrogen at Chlor Alkalie, Energy from wind or solar, stationary power (Alkammonia) the next big player who is in need is the steel industry !
THey for example are responsable for about 6 % of the German CO2 figures, they are forced to change something in Germany and worldwide ! So they are starting to install electrolyzers and trying to get more green !
Pasted from the article
The He is not writing off the renewable sources, however, and on the contrary said: Im a big believer in renewables.
Aramco produces a lot of exciting hydrogen at its plants, but the problem is in logistics and transportation, which is very expensive; solar is becoming economically viable, but the problem there is storage. Al-Khowaiters team is working hard on both issues.
This RNS appeared on the BAE pages but is the last line a pointer towards possibilities for AFC?
BAE Systems - Memorandum of Intent between the Kingdom of Saudi Arabia and the UK Government
The information in this announcement includes inside information relating to BAE Systems plc
Typhoon aircraft can hardly be classed as part of an industrial capability referred to in the last line.
Yes, 2030 is still a long way off but the National Transormation Plan was set up in about 2016 and does include interim targets and goals, some of which should be implemented by 2020 which, if they include AFC in any way would fit better with ABs plans.
The UK Government has signed a Memorandum of Intent with the Kingdom of Saudi Arabia to aim to finalise discussions for the purchase of 48 Typhoon Aircraft. ‎This is a positive step towards agreeing a contract for our valued partner. We are committed to supporting the Kingdom as it modernises the Saudi Armed Forces and develops key industrial capabilities critical to the delivery of Vision 2030
As much as it would be fantastic to see, I can't see this current visit resulting in AFC being part of these discussions. We have a long way to go yet - published metrics for the product 10kw and whatever other units > 10Kw that will be defined, (Son/Daughter of) Kore to be built/tested/validated and a manufacturing partner in place that can build to approved standard/metrics/timelines.
I envisage small deals going through initially to enable manufacturing to scale up and any teething issues ironed out.
Saudi will be big and bold. I'm not saying we wouldn't ever be part of that (we know there are potential partners there already) but I think we'd need to be fully established and we'd need a supply of hydrogen. I can't see the Saudis taking a bet on a fledgling company just yet - happy to be disproved of course
They do have three days grace to RNS news and at the moment there hasn't been much detail on anything the crown prince has agreed to - I've been searching! However, I presume that DE Nora would sign off the 10KW unit first. Perhaps it is all to come next week especially if Dunsfold gets planning permission!
we also know that there are many many ways and companies to go green with, we need something more tangible to know that AFC are really in the mix. Let's hope that all the reading between the lines we have been doing becomes black and white...
PS I added yesterday morning and will be deciding whether to add further or await more tangible news. risk/reward balance is clearly changing
A joint venture between AFC Energy and Dutco is expected to cover the deployment of AFC Energys fuel cells across the United Arab Emirates, Kingdom of Bahrain, Kingdom of Saudi Arabia, Sultanate of Oman, Qatar and Kuwait.
Based on initial estimates from market soundings already undertaken in the region individually and collectively by AFC Energy and Dutco over recent months, this could present an opportunity on its own to deliver a large percentage of, if not in excess of, AFC Energys stated target for 1GW of fuel cell development by the end of 2020.
Now this from yesterdays meeting between the Saudi's and the UK government.
The first key panel session of the Saudi/UK CEO forum will be exploring common ground for the implementation of vision 2030 which includes clean energy and less reliance on oil.
So exploring common ground must surely equate to clean energy/AFC fuel cells.
As Southerhay states in an earlier post.............This is the marker in the sand that says, we are now commercial and let the battle commence !
Lets just hope that marker is in Saudi sand and we do go past it.
We have been promised so many things, so many times.
I am not wanting to put a damper on the results, as can be seen I have ticked up several of yesterdays positive posts, it's just that yes, the promises this time have improved, but until we see 'results' of those promises to me at best can only be a weak buy.
Good morning mikeclayton2. I noticed that also. Maybe it was awarded by the BoD for delivering the 3 year plan? I assume the othe share options were put in place prior to the knowledge that a fair amount of redesign was required. Just my guess.
Sorry guys forgot to mention AB has lots of share options dependent on the share price reaching various levels like 100p/150p/200p. But the in the report and accounts its noted that he has been paid a 100k bonus. WHY what VALUE has he added for SHAREHOLDERS the SP is circa 11p and twelve months ago it was circa 11p.
CAN ANYONE EXPLAIN WHY WE ARE GIVING HIM A BONUS.
With these targets met, AFC Energy is transitioning to commercial exploitation of the significant value in intellectual property that it has created; thereby becoming a key new entrant into the ever growing clean energy revolution.
As mentioned in an earlier post my investment in this was written off long ago, Adam Bond has flattered to deceive on a number of occasions. I will watch with interest.
I share your optimism. It's hard to imagine how else AFC could make any announcement
that something is imminent. An update on Stade would not have been an appropriate
context to lay out the entire position AFC have reached. These finals have perfectly
described the state of the technology and that the step from proof of concept to full
commercialisation is being taken. For a new chairman to be so bold is supported by all
the on going details included in his statement. And there can be no coincidence that the
RNS came two weeks early.
The Saudi's do look favourite to be the game-changers, their determination to embrace
clean energy, their need for water, and the fact of money no object sits well with our
chairman having the confidence to make a dramatic debut on the stock market.
Today's rise was welcome although double the volume would have been more convincing.
I will be disappointed should this RNS only be followed by a Stade update however big
the upgrade is there. As you pointed out, Dunsfold is just a week away and maybe the
chairman is banking on that as his big deal to impress the market.? We know S.Korea is
probably the most profitable initial market with green incentives and yet very little
mention for a long time. PHE have been quiet for months. Maybe Peel will deliver a plan
that involves AFC on an impressive scale.? I feel sure Covestra will be waiting for the Stade
upgrade results before being the first of many in the C-A industry. California would be
Somehow, to get where we want to be ... A FULLY COMMERCIAL BUSINESS.
This is actually written in the RNS;
"With these targets met, AFC Energy can now begin the commercial exploitation of the intellectual property that it has created. While we will continue our focus on the development of the core alkaline fuel cell science, the time has come to take the product to market."
Well Michael Gove has also identified a roadmap to a target of being Prime Minister but I wouldn't lay any heavy bets.
And I see a majority of the 5 PLACE targets has been achieved.(3 ?) So 2 have probably NOT been achieved. Trouble is that failure to achieve ANY of the 5 effectively scuppers the whole project
Looks like Kevin is back and obviously he can't read, which might explain a lot!
From the RNS;
" . . .[we] now possess the technology platform to deliver a product with the performance criteria that the market wants, the build costs to make them competitive and the low operational cost that customers demand."
Been wary of counting my chickens for several years now.
Chickens usually lay their first eggs around 16 to 20 weeks from hatching, been into AFC from first share float and still waiting for their first egg, mind you I do feel that it wont be long now.
Can anyone else hear any cheeping from reading between the lines of the results.
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