Afc Energy Share Discussion Threads

[ride the wave 1] 22/12/2016 08:22

Still confident AB will deliver !!

No guts - no glory

GLA

[norbus] 22/12/2016 06:19

Two contracts once AFC has a product; That will be what AB could produce

[ride the wave 1] 21/12/2016 19:55

AFC Energy Quarterly Newsletter - September 2016





Dear Shareholder,

I am pleased to provide an overview of the Company's activities for the quarter ended 30th September 2016.

Highlights



· New Leadership Team

· Commercial and Strategic Relationships

· Technology & Product Development

· Receipt of R&D Tax Credits

· Launch of new brand identity



New Leadership Team



Given AFC Energy's ongoing transition from an R&D-focused technology company to a commercial business, I decided to establish a new leadership team, reporting directly to me.

Our recent appointment Bill Suglani is our new Head of Finance and Company Secretary. Bill joined us from BP Plc where he spent 22 years in a wide range of finance and commercial leadership roles, both in the UK and the US. In his most recent role as Group Finance and Control Director, Bill was responsible for ensuring and maintaining a robust and effective financial controls and reporting environment, leading the delivery of a portfolio of key internal audits and various change management and finance transformation projects. Bill was further responsible for preparing quarterly reporting and presentations for the BP Plc Group CFO, Main Board Audit Committee and Finance leadership team. He previously qualified as an ACA, working with KPMG in the UK. Bill is experienced in leading finance and shared services teams with full P&L, cash, balance sheet and statutory accounts responsibility, and end to end financial planning, performance management and reporting across multiple global and culturally diverse operations. We are very pleased to welcome Bill to AFC Energy in this key leadership role.

In addition, Christopher Reynolds, who has been with AFC since June 2010, was promoted to the new position of Head of Technical & Operations. Christopher has provided an excellent contribution to AFC over the past six years leading much of the work undertaken in the area of manufacturing and quality control, as well as providing leadership roles across several areas of the Company, including significant contributions to the fuel cell development team. In particular, Christopher is leading AFC's Joint Development Agreement initiative with De Nora and is welcomed to this new and important role in the Company's commercialisation strategy.

And last but in no way least, Nick Ploumis, who has been with AFC since 2014 as Project Manager and led the successful project management and delivery of the POWER-UP project in Stade becomes our new Head of Projects. Nick also assumes responsibility for AFC's project-related business development activities, including managing the plantIng strategic engineering partnership.

My congratulations go out to all three.

On 26th August, we announced the departure of our Finance Director, Christopher Tawney, in order to pursue other business interests. Christopher joined AFC Energy in 2014 and I would again like to thank Christopher for the contribution made to the business in the last two years and wish him every success in the future.



Commercial and Strategic Relationships



Our active dialogue with prospective global industrial partners successfully culminated this quarter in the signing on 5th August of one of the Company's most important strategic agreements since its origination; a Joint Development Agreement ("JDA") with Italy's Industrie De Nora S.p.A. ("De Nora"), a global leader in the field of electro-chemistry and electrodes. We're very pleased to have a quality world class technology partner in De Nora collaborating with our technical team; and with both teams now actively engaged in exchanging ideas on technical enhancements, we are already starting to see the fruits of this initiative both in technology development and in potential new commercial markets to pursue. Importantly, the JDA with De Nora aims to facilitate a further improvement in the performance characteristics of our fuel cell technology and accelerate the timescale for achieving our targeted key metrics for: power, longevity, reliability, efficiency and cost. We look forward to providing further updates to the market on the outcomes of the JDA with De Nora, believing this collaboration will present a material opportunity for both parties in the near term for the enhancement of shareholder value.

Elsewhere, we are acutely aware of the market's desire to see commitments for the placement of AFC Energy's fuel cell system into the global energy market; indeed this is an important stated milestone for the Company this calendar year. Negotiations are continuing with commercial parties interested in working with AFC Energy in this regard and we continue to strive to meet the commitments as stipulated within the milestones for this year.



Technology & Product Development



In addition to the key developments highlighted above in AFC Energy's collaboration with De Nora, I was very pleased that the team accomplished Milestone 4 of the 2016 Strategic Milestones ahead of schedule when in early July we announced completion of the design and basic engineering of the new 10kW fuel cell system and its accompanying balance of plant. We continue discussions with potential supply chain and delivery partners for the 10kW system which is also likely to provide the basis for the system adopted in the Alkammonia project currently underway in conjunction with the EU and project partners.

I'm also happy to report that validation testing of our Generation 2 fuel cell stacks commenced on schedule in September and is ongoing at our test facilities in Dunsfold, UK and Stade, Germany. Notably, during the past three months, through improvements in stack design and build quality delivered through the Gen2 development programme, we have achieved over 180% improvement in fuel cell stack continuous operating hours and over 320% improvement in total stack running hours over the past quarter, further validating the incredible work our technical teams have and continue to deliver for the Company. I hope and expect the collaboration with De Nora will further enhance these metrics in the short term.

Meanwhile, solid progress continues with the larger 1MW scale system (Milestone 5). Design concepts have been completed by our engineering partner plantIng and we are still on target for this system to be available for procurement next year.



Receipt of R&D Tax Credits



In the past quarter, AFC Energy received £927,000 from HMRC related to the Company's claim for R&D tax credits over the last financial year. The increase in UK R&D tax credits relative to prior years relates primarily to the incremental funding of the Stade project and associated costs in technology development and upscaling. Importantly, we also commissioned a review of prior year's R&D tax credit claims where incremental unclaimed expenses were identified and lodged for payment.



AFC Energy also received a €135,000 German VAT refund paid in the first half of this year. Further, for our EU-funded project Alkammonia initiative - a proof of concept system designed to provide power in remote applications - AFC Energy received its share for the project from the EU's Fuel Cell and Hydrogen Joint Undertaking (FCH JU), amounting to €181,000. This was for costs incurred for the period 1st November 2014 to 30th April 2016.





Launch of new brand identity



Last month, we announced the launch of the Company's new brand identity reflecting its planned transition to a commercial company. This included a new logo and new website, which I hope you find easier to navigate and source information.



Finally, I would like to thank all the staff, partners and contractors working with AFC together with the EU's FCH JU, and the Board, for their continued support.

Yours sincerely,



Adam Bond

Chief Executive Officer

[ride the wave 1] 21/12/2016 19:48

Onwards and upwards from here ....

Eyes on the prize ..... 1-2 contracts by year end .

Everything else is just noise !!!

GLA

[ride the wave 1] 21/12/2016 18:36

Red ticker ,

SHOW ME THE MONEYYY 💰

[norbus] 21/12/2016 12:57

That's what the Cow said to the Donkey with the big erection : Very bullish 👍

[ride the wave 1] 21/12/2016 12:07

Those are the 2 contracts AB is working on IMHO .

YOU GOTO BE IN IT - TO WIN IT !!!

Very bullish 👍

[ride the wave 1] 21/12/2016 12:04

10 March 2015





AFC Energy PLC

("AFC" or the "Company")





AFC Signs Milestone 50MW Deal with Samyoung and Changshin for the Commercial Deployment of Fuel Cell Technology in South Korea



AFC Energy plc (AFC.L), the industrial fuel cell power company, is pleased to announce that it has signed a formal Project Development Agreement ("PDA") with two South Korean partners: Samyoung Corporation ("Samyoung") and Changshin Chemical Co. ("Changshin") for the deployment of an initial 50MW of fuel cell generation capacity in Daesan, Korea.



Highlights



· 50MW of installed fuel cell capacity across two phases

· Expected revenue of approx. US$1bn for the joint venture over 10 years of operation

· First phase of 5MW to be operational by end of 2016 (subject to permitting)

· Second phase of 45MW forecast to be operational by end of 2019 (subject to permitting)

· Joint venture between the three companies with indicative participating equity interests of: AFC Energy (40%); Samyoung (45%); Changshin (15%)



This landmark deal confirms AFC Energy's transition from research and development to a global energy company working in collaboration with two of South Korea's most reputable companies.



South Korea's strong incentives in the deployment of fuel cell technologies has brought significant investment and employment opportunities to the Daesan region, which AFC Energy is proud to support.



Assuming a gross output of 50MW from the fuel cell park, the joint venture is expected to generate revenues from the sale of electricity and Renewable Energy Certificates (RECs) over a 10 year period of just under US$1bn.



The project reflects the start of a partnership between the three companies, which is expected to see multiple projects developed beyond this first project. Negotiation of the suite of project agreements is expected to commence immediately having now established the framework principles for collaboration within the Joint Development Agreement. The exact details of the investment each party will make in support of the joint venture is still subject to negotiation but it is expected that each party will make an upfront contribution, either in cash or in kind. The parties also intend to secure project finance for the joint venture. The parties are set to commence development of a feasibility study for the project to establish the basis of design and economic analysis in support of a more detailed project engineering assessment, further details of which will be supplied in due course.



It is proposed that AFC Energy will sell its alkaline fuel cell equipment into the joint venture along with providing technical and operational advice to the joint venture participants. Between Samyoung, which will manage the development of the project as Engineering Procurement and Construction and permitting of the 50MW project, and Changshin, which will supply hydrogen, land and logistical support on site, and AFC, the partnership creates an environment, which will drive a successful and profitable enterprise in the execution of this project.



Mr Adam Bond, AFC's Chief Executive Officer, said: "Having spent the last week in Seoul with our colleagues from Samyoung and Changshin, I am confident our new partners are strongly aligned with AFC's renewed and aggressive commercialisation strategy into South Korea. With Samyoung's entrepreneurial drive and respected international EPC contracting experience spanning Europe, the Middle East, North America and Asia, together with Changshin's strong growth trajectory in South Korea, we are exceptionally well placed to succeed in this historic agreement for AFC."



Mr Dong Heum Keum, President and Chief Executive Officer of Samyoung, said: "We are privileged and honoured to be involved in this exciting project with AFC Energy and Changshin which reconfirms our growing leadership position within the Korean fuel cell space. Our strong commitment to this project is demonstrated in a preparedness to inject our own funds into the success of the project."



Mr Sang Do Bae, Chairman of Changshin, said: "We are pleased to now be moving forward with an enlarged commitment to deploy hydrogen feedstock to support the generation of clean power from AFC Energy's leading alkaline fuel cell technology. Our commitment is now extended from merely a supplier of hydrogen to taking an equity position in the joint venture."

[norbus] 21/12/2016 11:54

Oh, That's all right then

£1 coming

[norbus] 21/12/2016 11:12

Never mind;
Hilarious to see 200 at buys to keep the chart up .
bz is not here to defend himself. he is looking for a £
effing effart , yoda and rtw keep us amused

[howling] 21/12/2016 10:22

Keep Calm and join the Revolution

[howling] 21/12/2016 10:21

Fuel Revolution 2017

[effiert] 21/12/2016 10:04

i dont think in 15 years of investing i have ever seen trolls like Norbus and bezz spend 10 hours a day 7 days a week knocking a share they dont own..

Surely its more productive to spend that time with your family or researching stocks that will make you money

Norbus and Bezzz are lowest of the low imo

[ride the wave 1] 21/12/2016 10:02

Everyone must watch the proactive investors AFC CEO interview dated 30/11/16 (again).

"I'm still very much looking towards the milestones that i set at the beginning of the year , of having 1 or 2 CONTRACTS SIGNED BY THE END OF THIS YEAR and we're still working towards that ".

"DE NORA results are VERY ENCOURAGING and ENHANCED , very exciting relationship that's working VERY WELL".

"If you look at the PROGRESS we have made this year , it has been EXCEPTIONAL and positions us exceptionally well for A VERY EXCITING 2017 . Hopefully as we enter December we'll continue to SEE SOME of that EXCITEMENT roll over into the FINAL MONTH OF THIS YEAR".

[norbus] 21/12/2016 07:03

bz

Forget 2016, and you almost made it with 11 out of 12 milestones in 2015; you lucky punters are well positioned for 2017 ; Stade might double the intake,He could contract to supply barrels of North Sea seawater but without the herring? If he was not spewing intangibles the shares would be on firmer ground >35 p . For that reason, I say to holders take care , you are in for more of the same, but dyor

[ride the wave 1] 20/12/2016 23:45

If you want a guarantee then you're in the wrong game . Open up a building society account (PMSL).

Quarterly update due on Friday .

Contract news within 5 trading days .

[beeezzz] 20/12/2016 22:10

1 or 2 CONTRACTS SIGNED BY THE END OF THIS YEAR and "we're still working towards that "

SO NO GUARANTEE THEY HAVE BEEN WORKING HARD ENOUGH TO ACHIEVE THIS THEN, AND IT LOOKS THAT WAY

In the mean time Mr Bond would like to thank all shareholders for his £5750 a week salary, all that dosh without producing a profit or dividend for you long suffering shareholders.

It just leaves me to wish you all a lovely Christmas, I'll be relaxing in my slippers by an open fire sipping on a fine port and thinking of you all contributing to my rich lifestyle.

[ride the wave 1] 20/12/2016 21:06

Everyone must watch the proactive investors AFC CEO interview dated 30/11/16 (again).

"I'm still very much looking towards the milestones that i set at the beginning of the year , of having 1 or 2 CONTRACTS SIGNED BY THE END OF THIS YEAR and we're still working towards that ".

"DE NORA results are VERY ENCOURAGING and ENHANCED , very exciting relationship that's working VERY WELL".

"If you look at the PROGRESS we have made this year , it has been EXCEPTIONAL and positions us exceptionally well for A VERY EXCITING 2017 . Hopefully as we enter December we'll continue to SEE SOME of that EXCITEMENT roll over into the FINAL MONTH OF THIS YEAR".

[ride the wave 1] 20/12/2016 16:37

50dma acted as support and has held

NICE

onwards and upwards tomorrow