We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cmr Fuel | CMF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 15.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.00 | 15.00 |
| Top Posts |
|---|
Posted at 04/5/2008 12:44 by jonwig I attended the AGM last Thursday, at Harston Mill.It was a 'round table' affair; directors present were Tim Curtis (Chair), Gordon Edge (NxD) and John Halfpenny (CEO). There was just one other investor there, a pleasant young American who represented Conduit Ventures (16.8% stake). He asked a number of questions regarding cash control. Cash burn is around £0.21m per month so with cash of £8.4m at 31/12/07, that's 40 months so taking us to mid-2010 allowing for increases. Around 70% of the cash is spent on people (30 employees, of which 25 are technical). Although some of the materials used are very expensive (eg. Platinum) they don't consume much of them. It was generally agreed that cash control was very tight, and it is a key part of their business model. They are fully aware of all the possible avenues for future fundraising, the timing of which will probably coincide with the readiness of commercial offerings. I asked a number of questions of a technical nature. (1) The company's announcements recently have spoken of 'acid' and 'alkali' types of cell, and it's unclear why these have suddenly appeared, when alkali models were the only ones mentioned in the prospectus. This is because platinum is required in alkali, and the cost is becoming a serious barrier to development; hence the two-pronged attack. (2) Water is emitted as a by-product; how is this dealt with? Can be recycled or evaporated. Since recycling is the solution being adopted by Polyfuel in its DMFC development, I was quite reassured by this. (3) Are the demo systems shown in the Annual Report complete ones, including the Balance of Plant? Yes, BoP is partly 'standard kit' and partly designed in-house. I was shown one of these demo systems, which is about the size of an ordinary digital camera - a bit larger than an i-Pod and certainly smaller than a laptop's Li-ion battery. (4) The power of the laptop system is described in the AR as 25W. I expressed surprise, as I understand that greedy applications can require up to 75W. The response was that 25W is a figure suggested by the industry. I'm unclear whether the fuel cell system is meant to recharge the laptop battery or replace it, but didn't pursue the matter. (5) Could the website be improved by carrying news other than the RNS announcements? I pointed out that it was possible to find out quite a few things via Google, which were not publicised by the company. It was agreed that this should be addressed. The question arose, naturally, of the recent fall in the share price They have been told that a unit trust/OEIC had a forced sale following heavy redemption of units. I pointed out that 700,000 shares (see 24/04)was over 3%, but they hadn't been informed yet of the seller's identity. One director expressed the view that there would be no chance of buying the company below its cash value, as the share price would immediately revert upwards and anyway, large holders would not sell. (The Conduit Ventures man concurred.) The visit was worthwhile for me, even though it meant six hours' driving in all. I left with pretty strong confidence in the management's abilities and commitment. Obviously (as was always known) this company is very high risk, with the potential for very significant payback. |
Posted at 25/4/2008 10:29 by garth In response to an email enquiry I made early this morning:Dear Mr...... We believe that one of our institutional investors had to raise money 'at any cost' and disposed a significant number of our shares as well as those from other stocks. In these days of low liquidity, the effect of this was strongly levered and affected the share price as we saw. We don't know of any other internal or external reason for this drop. We remain committed to the stategic direction that we outlined in the annual report and have significant cash reserves with which to continue developing products for portable fuel cells. The strategy and progress outlined in the 2007 report remain current. Regards John Halfpenny CEO, CMR Fuel Cells plc |
Posted at 15/8/2007 16:49 by elgordo Unless the technology turns out to be a complete bust, there should be a point at which this becomes a strong "buy". When floated, the technology was valued at around £24m (market cap less cash), growing to over £40m when the shares hit 270p. Now at 71p it's down to probably less than £5m (market cap £14.4m, cash approx £9.5m). The market is always right, and, based on 10 years investing, I'm almost always wrong, but surely at this price investors should be starting to take an interest (unless, as I say, everyone else has figured out that the technology really isn't going anywhere...).Still glum, but I read in the paper today that "men in their late 30s and early 40s are the least satisfied members of society", so perhaps I'll grow out of it... (P.S. Do my figures make sense, or have I misunderstood or miscalculated the valuations?) |
Posted at 28/6/2007 13:44 by elgordo Jon I had a trawl myself, and it does appear that the timescales for production have been meandering over the horizon. Specifically: March 06 - Investors' Chronicle stated that "2008 looking like the most realistic target for mass production" November 06 - Shares suggested first deliveries in 2008 January 07 - Business Weekly gave Christmas 2009 earliest date for launch of products June 07 EGov Monitor expects availability in "mass market products" from 2010 (so perhaps initial launch could still be during 2009?) |
Posted at 04/6/2007 10:06 by tuffbet If you believe as an investor you should know your subject then this is a worthwhile link. |
Posted at 04/1/2007 09:44 by elgordo I agree about the need for more tangiable newsflow, although it is still good to see them further stengthening the board.Did you see the article in last week's Investors Chronicle about fuel cell companies? As I recall, the only observation they made on CMF was an analyst's view that they had floated at too early a stage in their development. Let's hope for more tangiable evidence of progress towards commercialisation, either in the March results or - better still - in specific announcements before then... |
Posted at 19/10/2006 16:10 by jonwig Shares Mag today has some background to Commercial Officer appointment:The potential route to market is something that often leaves investors scratching their head when looking at fuel cell companies but CMR Fuel Cells' (CMR:AIM) appointment of Stephen Barlow as chief commercial officer is good news for the company and makes a clear statement of intentions. CMR says that its recent achievements of some technical milestones have given it confidence it can develop its product for the portable consumer electronics industry, which is expected to have a fuel cell market of some $2 billion by 2011. It also says it has received commercial interest from Asian electronics companies and therefore needs a dedicated person to manage the interest. Barlow has a wealth of experience in the portable electronics business and was vice-president of sales and marketing at private company Antenova, where he forged relationships with Sony Ericsson, Dell and Siemens. Although the shares have remained static at 170.5p, any announcements relating to sales or agreements with Asia partners should give them a boost. |
Posted at 07/4/2006 09:31 by jonwig Investors Chronicle, 10 March at 222p (I overlooked it)The fuel cell was invented in 1839, but it is only in the past 18 months that its potential for generating clean power has started to be developed seriously - bringing a slew of companies such as CMR to the market for funds. And CMR's losses grew, although this is to be expected in an early-stage company ramping up development spending. Chief executive John Halfpenny believes CMR's unique technology, which means its fuel cell stacks are smaller and cheaper to make, is ideal for the consumer electronics industry. So it is working with both manufacturers and battery makers to commercialise the technology, with 2008 looking like the most realistic target for mass production. Mr Halfpenny expects CMR to produce the equivalent of 500W of power per litre by the end of 2006, which will take it closer to the goal of making fuel cells small enough for consumer electronics - and it has plenty of cash to fund this development. CMR appears to have strong technology and its board is highly experienced. Its shares may drift until milestones are achieved, though. Fairly priced. The kind of volatility we're seeing today will be typical until the picture is clearer. They do suggest 2008 for mass production (sooner than I'd thought). |
Posted at 17/3/2006 10:28 by jonwig saltedcrab,I daresay some people will like your posting style and join in the fun. But your whoopee ramping of shares will only irritate posters who want more serious comment and debate. More times than number, people have walked away from BBs because they can't tolerate this mindless drivel. The idea that you can manipulate a share price by your activity is laughable: serious private investors with real money will do their own research and give matters careful consideration. They'll also give their opinions generously in the right atmosphere. Also, what's the point of splashing posts on company A's BB to check out company B? Just about every serious investor will be aware of the other players in a sector. Now you've started your own CMF thread for your ball-by-ball commentary - good; why not do the same for CMR, please. |
Posted at 23/2/2006 09:58 by asparks Green power comes of age as big investors buy into fuel cell firm Terry Macalister Thursday February 23, 2006 The Guardian The Australian-based technology company Ceramic Fuel Cells said yesterday that it was raising £37m on the London Stock Exchange (LSE) to fund a new factory, probably in the north of England. The move came just a day before a US carbon credit specialist, Econergy International, sees its shares traded on the Aim market amid soaring values for "green" power firms. Next week the LSE hosts a "new energy" seminar expected to attract big names from the investment community, such as Merrill Lynch and Rothschild. The CFC fundraising was executed via a share-placing with institutional investors, which will give the company a market value of a little over £60m. More than 90 new institutional investors in Britain and elsewhere in Europe as well as specialist socially responsible funds took part in the oversubscribed placing, the company said. CFC plans to commercialise its solid oxide fuel cell technology for use in combined home heating and power systems. Brendan Dow, chief executive, said that his company could offer greener and more efficient boilers with integrated fuel cells run on natural gas for about £3,000. This compares with the £2,000 cost of a current condensing boiler as mandated by the British government. No decision has been taken as to where the new factory will be located in Europe but Mr Dow said there was a "very good chance" it would be in the north of England or north Wales. Up to 200 people would be employed. If successful, there could be more facilities built, Mr Dow said. CFC shares, which are already listed on the Australian market, are expected to start trading on Aim on March 2. The company could join a growing number of companies, such as Johnson Matthey, which are producing fuel cells in Britain for household, transport or industrial use. Mounting interest in low-carbon technology has led to a stampede of tiny companies to the LSE, such as Voller Energy, which produces fuel cells for yachts, and Ceres Power. Impax Partners, which invests in alternative energy firms and which itself listed on Aim in 2001, has trebled its funds under management to £260m in the past year alone. Ian Simms, chief executive, said: "Mainstream investors are increasingly aware of the growth opportunities in environmental markets and of our ability to seize these opportunities on their behalf." Impax now manages money for many institutional investors such as British Airways' pension fund and Friends Provident. A seminar on renewable companies held at the LSE last October attracted large City firms such as Merrills and Rothschild. Big industrial groups such as GE of the United States and Germany's Siemens have expanded into this sector by taking over smaller alternative power firms. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
