Intelligent Energy Share Discussion Threads

[ibug] 21/11/2016 09:25

Nothing never stays the same...from here on the company will need to be clocking up sales revenue. The H2 market is gaining traction all the time so the possibility of getting sales is pretty good going forward. A years worth of cash flow is a long time and much can change in terms of revenue. I 'm expecting better sales.

[filster] 21/11/2016 09:21

"At least not much has changed..." - that's the problem! Something needs to change otherwise they will run out of money.

[filster] 21/11/2016 09:14

@ibug but we already knew they had cash for 14-16 months. We already knew about the restructuring and we already knew about the change in focus. None of this is new - so unless the Analysts and Investors are told something extra that isn't in the Annual Statement there's nowhere to go at the moment. As I've posted before, they probably needed to have started doing what they're doing now about 6-12 months ago. There is an upward trend in Hydrogen Fuel Cells and power but other companies seem to be doing the business at the moment. That isn't to say IEH won't but at the moment they aren't.

[ibug] 21/11/2016 08:53

IEH --- The conference call starts at 9 am ...it will be interesting to see what is said about the ongoing outlook, sales wise.

At least not much has changed since their open day lsat 2lst September 21st...onward and upwards.

[ibug] 21/11/2016 08:45

At least they have enough cash for a year or more...and what would the affect of selling Essential Energy be to the bottom line...perhaps a load more cash.

[filster] 21/11/2016 08:37

Hmmm... nothing of note in there at all, imho. They need some decent wins otherwise they are going to run out of money and ask for more or sell more shares. Then who knows, another 30M would keep them going for another 24 months or so.

Most of what has been said was said at the Analyst and Investor day a few months ago.

Of course deals may be ongoing etc.. but as it stands I've had to sell my holding this morning at a loss. I may well dip back in later on, but something needs to change and at the moment they've only got 14-16 months worth of cash left.

[dean windass] 21/11/2016 08:35

It might be worth bearing in mind IEH's history of being very conservative when issuing RNS resisting any urge to "talk the company up" .... unlike Chris Cleverly at AFPO who one might suspect is in danger of ending up in jail. I sometimes wonder if companies manage RNS so that good news is held back until after bad news has been delivered, the share price has tumbled and those "in the know" can load up with shares cheaply then suddenly a stream of good news and a "santa rally" materialises ... there was no Santa Rally last year!!!

[ibug] 21/11/2016 08:32

At least a line is drawn under the restructuring allowing the business to rebuild from here on.

[ibug] 21/11/2016 08:21

The part at the end of the RNS is worth a read:

Despite this, the Directors believe that the track record of the business in securing JDA activity, the options available to the Group
from trading activities and the ability to realise value from the IP portfolio mean that the Directors consider that the Company will have sufficient
funds to pay its debts as they fall due for the foreseeable future. It is on this basis that the Directors, in their opinion, consider that the Company remains a going concern and the financial statements have been prepared on that basis.

Outlook

The Group exited 2015/16 with GBP20.6m cash at bank and an underlying cash burn, defined
as EBITDA less capex (but excluding interest on the convertible loan note), estimated at
GBP1.3m a month. Including interest on the convertible loan note averaged on a monthly basis, this
is cGBP1.6m a month.

Revenue in the year ahead is expected to be a mix of JDAs and air cooled
fuel cell related sales, which are forecast to reduce but not eliminate the Company's net
cash burn.

Separately, discussions continue with respect to the funding of the GTL long
term power management contracts in India.

If these discussions cease there is expected to be no material negative impact on the current trading prospects of the core fuel cell business.
Should they complete successfully, IE would expect to have a minority stake in the ongoing business.

[dean windass] 21/11/2016 07:24

Well, having a quick look at the preliminary results, revenue is up, losses are down when the 51 million quids worth of exceptional items and impairments are factored in ..... so revenue is up ... it keeps on rising every year .... with the re-structuring ... expensive and painful though it is ... and a focus on following the money .... in a growing market (I noticed IEH are taking part in an African summit on doing in Africa what IEH are doing in India with E2) ...... not an earth shattering set of results but I don't see it as doom and gloom ..... also, Theresa May is about to announce to the CBI funding for companies operating with "new technologies" citing how The City hasn't served the interests of the UK's R&D sector very well and government help is needed for British industry to survive funding pitfalls .... I don't think IEH is about to disappear .....

[fission453] 21/11/2016 07:19

Good results and so much happenning. Should double or even triple from now on!

[dean windass] 20/11/2016 05:07

Thank you MeganXmas!!!!! Here's more on it!!

[meganxmas] 19/11/2016 22:22

was a reverse takeover to get a listing on nasdaq b4 was listed on aim. pulled out of it.

[dean windass] 19/11/2016 20:52

2005 offer to take over Intelligent Energy? What the HELL is this?

[dean windass] 19/11/2016 20:45

"The Army develops and deploys a vast array of poweredequipment necessary to accomplish its mission. Advance-ments in micro-electronics during the 1980s and 1990shave resulted in the introduction of new equipment withpowerful capabilities such as night vision devices, globalpositioning systems, laser range finders and target designa-tors, digital communications systems, intelligence gatheringsensors, and others. These systems are part of the Army’s plan to ‘digitize̵7; the battlefield. The use of these advancedelectronic systems will provide commanders and soldierswith a common picture of the battlefield and enable themto conduct operations at a tempo in which the enemy willbe unable to react.These electronic systems are creating an ever-growing de-mand for power sources that are power dense, reliable, and affordable. In an effort to simultaneously improve upon the existing power storage and generation devices while contin-uing to supply America’s war fighters with state-of-the-artequipment, the US military has focused on fuel cell technol-ogy for various military applications. CERDEC is currently working with low power (<20W) systems for soldier and sensor power, mid power (200W–2kW) for silent power generation and battery recharging, and larger (2kW and up)for mobile power generation and APUs [2].CERDEC has adopted a ‘system of systems’ approach to the development of military fuel cell units. While there isa great need for further basic research into key technology0378-7753/$ – see front matter .... " ad nauseum ...... see previous posts from me ..... just trying to firm up my hunch that IEH were going to do OK from supplying the military but that we probably wouldn't get to hear about it and the income would be hidden in the accounts under a prosaic description

[dean windass] 19/11/2016 20:16

We keep moaning about how little information IEH give out ...the company isn't mentioned in US military testing reports but it is mentioned elsewhere which companies supplied HFCs to the army test .... so the information IS out there ... but it does take some digging ... every time I spend an hour googling IEH and what they're up to, I learn something new ... perhaps this is why the brokers and analysts had a target for this of over 4 quid ... they knew about all the military stuff and PIs have to dig for it

[dean windass] 19/11/2016 20:11

Military in the US has already selected PEM HFCs. IEH supplied them one for a seveb month testing programme. I just dug up some research which contains this

"The Army has selected proton exchange membrane(PEM) and direct methanol fuel cells as the leading near-term technology candidate for soldier and sensor power because of their high power density, quick start capability,and technology maturity (Fig. 1). PEM fuel cell stack perfor-mance has improved dramatically in recent years as the re-sult of better design, effective thermal management, and bet-ter membrane electrode assemblies."

from

[dean windass] 19/11/2016 19:59

Has anyone noticed any new broker targets for IEH?

If IEH HAVE made inroads into the military market and Trump starts a new arms race with Europe having to come up with it's own strategy to replace a NATO to which the US is unwilling to commit funds, IEH could get a piece of the action. Russia is using hydrogen powered drones by the way!

From

It seems hydrogen powered UAVs don't attract heat seeking missiles as they run at lower temperatures and merely leave a trail of water.

and I just found this on forbes.com

"Meanwhile, Gillette , Motorola , Dow Chemical and Panasonic are among the many companies looking to power portable electronics with fuel cells. Motorola expects its fuel cells to run about ten times longer than standard batteries before needing refilling, which can be accomplished by inserting a small cartridge."

Plus the co-operation with Boeing ... who make a fortune from military contracts .... " Intelligent Energy has worked with Boeing Phantom Works to power the world’s first manned fuel cell aircraft in commercial airspace and with Airbus for an auxiliary power unit"

and Airbus it seems .... who ISN'T IEH working with?

and

"The military is faced with an ever increasing need for quality power in diverse locations and geographies, often in situations where a premium can be placed on power generation with reduced thermal, acoustic and emissions signatures.
Fuel cells are therefore being considered for a diverse range of military applications, from providing for the heating and lighting needs of a base camp to on-board vehicle auxiliary power and use as battery chargers.
Intelligent Energy was selected by US Army CECOM to supply a 2kW rated PEM fuel cell power generator for testing and evaluation.
Funded by the Congressionally approved Foreign Comparative Test (FCT) program, an Intelligent Energy hydrogen-fueled system was delivered to the U.S Department of Defense FCTec in Johnstown, Pennsylvania.
The Fuel Cell Test and Evaluation Center (FCTec) is a facility for the independent, unbiased testing and validation of fuel cell systems for both military and commercial applications.
The Intelligent Energy system underwent an extensive seven month test procedure which included continuous maximum power operation, tilt, cold start and high altitude testing."

and

"Product Description:
CHP (combined heat and power)
Today, the power sector is responsible for 40% of global CO2 emissions, with electricity demand predicted to more than double by 2050.
It is also estimated that $22 trillion of cumulative investment will be required in new plant and grid infrastructure to meet global demand for electricity by 2030.
Distributed generation (DG), electricity production that is on-site or close to the point of use is a way to reduce both emissions and cost.
The advantages of DG lie in the fact that transmission losses are avoided as is large capital expense, the power generated is targeted at the user and matched to the particular power requirement.
Fuel cells have great potential to save energy and reduce emissions when used in DG applications, and particularly in CHP (combined heat and power) mode – which alsomakes use of the heat generated.
Also, as hydrogen can be produced from a wide range of sources, fuel cells can help address energy shortage issues through fuel supply diversity.
There is a clear push across the world for more renewable energy. Renewables (e.g. wind, solar and wave) are by nature “peaky” or intermittent, and the production of hydrogen via electrolysis is a good way of dealing with excess energy when on-grid storage capabilities have been exceeded.
Thus hydrogen represents a valuable commodity which could be used even outside the reals of power generation and become part of our transportation fuel supply infrastructure.
Intelligent Energy has considerable experience of CHP systems and has operated PEM fuel cell CHP systems around the world since 2003.
These units have been supplied by hydrogen that has been produced by renewable means or via fossil fuel reformation using our own hydrogen generation technologies.
Our 2kW CHP installation at West Beacon Farm in the United Kingdom’s Midlands for example (right), has been providing both heat and power to the facility there for over three years, using energy from wind turbines and photovoltaic (PV) cells to generate the fuelling hydrogen.
Building on our CHP expertise Intelligent Energy announced in early 2008 that it had formed a joint venture company with Scottish and Southern Energy, the UK’s second largest supplier of energy.
The new company IE CHP (UK & Eire) Ltd will develop PEM fuel cell CHP systems for the residential and light commercial markets.
A key advantage of PEM fuel cells is that they are readily scalable over a greater power range than other fuel cell types. They can also be addressed to a wider range of stationary power applications.
The joint venture will draw upon Intelligent Energy’s considerable fuel processing know-how to ensure that our PEM fuel cell CHP systems will plug-in to both existing fuel infrastructure, such as the natural gas which is already piped to millions of homes in the UK as well as hydrogen supplied by the emerging renewable energy industry."

The key bit from the last paragraph is ...

"Intelligent Energy’s considerable fuel processing know-how to ensure that our PEM fuel cell CHP systems will plug-in to both existing fuel infrastructure, such as the natural gas which is already piped to millions of homes in the UK as well as hydrogen supplied by the emerging renewable energy industry"

So they do fuel cells that run on other than hydrogen ... I never knew that!

More later!

[filster] 18/11/2016 20:58

Probably wanting to be in rather than out beforehand... Time will tell!

Not long to go now. The figures must be good or at least show that China or Japan are serious markets for IEH and possibly with Martin Bloom's prior experience in China we could well be on to something if they've used those contacts well...

[ibug] 18/11/2016 18:27

Well Dean maybe...great volume today compared to recent weeks, here is the end of day summary.

13.00 +0.88 (7.22%)
Nov 18 - Close
LON real-time data - Disclaimer
Currency in GBX unless noted

Range 11.59 - 13.06 52 week 4.00 - 97.00 Open 11.75

Vol / Avg.966,524.00/232,939.00 Mkt cap 29.55M*

Looking pretty good for Monday imo.

[dean windass] 18/11/2016 16:18

Someone left a copy of the preliminary results in the photocopier? Seems to be sudden demand for shares ......

[ibug] 18/11/2016 15:29

Monday Morning.

Expecting detailed audited results firming up the announcement made last September. It should mention a much reduced cash burn and 30 million+ GBP in the bank.

That might be accompanied with a trading update or a new commercial deal about drones or phones etc and progress about H2 cartridge designs..

It may also show a conclusion to funding problems at it's wholly owned subsidiary Essential Energy concerning HFC powered Telecom Towers.

Hence, quite a lot in the offering.

[dean windass] 18/11/2016 13:45

This should end the day up if it stays like this. Some automated trades been triggered it seems by MMs raising the bid. Actual price now would be 12.35 but .... who knows ...

[filster] 18/11/2016 13:29

They're probably second guessing Monday - or attempting to find out "anything" that might be announced ahead of Monday...

[dean windass] 18/11/2016 13:17

Bid being raised ..... I wonder why? Must be at least mild demand for shares but why people buying at 12p now instead of 10p 2 weeks ago?