From Google's AI:
Atome Energy plc (ATOME) has canceled its order for an electrolyzer from CPH2, a UK-based green hydrogen technology company. ATOME had originally placed the order in March 2022 for a single 1MW MFE220 electrolyzer.
They are going to need much more than 1MW! |
So do we know if they have got another supplier? |
driller81, what you say about Cph2 selling down makes perfect sense. The £700k odd worth of ATOM shares CPH2 held after selling down to 2.95% will be needed by CPH2 after reading their fund raise RNS this morning.
The fact that it makes sense does not mean that it is happening.
Mcunliffe1, you may be referring to the order placed by ATOME with CPH2 some years ago. |
Is anyone able to provide an update on the electrolysis equipment (or alternate) that is being proposed/purchased and any kind of timescales?
I have a vague recollection that an agreement was reached with some equipment manufacturer but it went pear-shaped.
TIA |
Presumably the share price slide relates to CPH2 disposing of some of their stock (at a loss). Looking at the TR1 %'s they've offloaded 25% and could easily be continuing that sell down without any further disclosure. Will probably make more sense for them to take the hit than try raise money at an 85% discount to their IPO.Business case for Atome seems in tact and looking forward to seeing this rocket as soon as FID is complete. In the mean time I hope it finds a bottom pretty sharpish. |
And combine that with some leaky advisor’s tipping off their mates no doubt. |
The market realises that although there is an interest from lenders to fund a percentage of the project cost, there will also be a requirement for a percentage of equity finance, and I think that is what is scaring them.
Problem is, that becomes a self-fulfilling prophesy! |
From the 14 Nov RNS:
“ Project finance for the Villeta Project continues to make good progress for what is expected to be a world-first project of its kind, with care being taken especially as the Company is determined that the eventual structure delivers material upside for shareholders”
I guess the market doesn’t believe it.
Let’s hope the PL factor is not applicable this time !! |
We are lining up lenders for the projects. I thought that the company was making steady progress on all fronts - site, design, 100% take-up of planned output, engineers, etc. Maybe it’s impatience, but Olivier seems to be doing a good job. |
Maybe the market is running scared of a possible placing. |
Peter Levine.
The share price is almost at the low point of about March this year. From that point it rose ultimately to about 85p.
If there's a 'miraculous' announcement from the company in the next week or so I would not be surprised to see this jump again.
To expand upon the Peter Levine aspect, he's the main shareholder through various controlled entities plus his personal holding. His son is employed by Atome and paid by the company. Peter Levine's involvement with Molecular Energies raises concerns for me. |
What's a PL company? |
Sadly this price action has all of the hallmarks of a PL company, hope to be wrong. A 100% rise from here will roughly put us back to where we were in September |
pjohn1985 ??? |
@pjohn1985
So in terms of % ownership at the project level for Villeta, does that mean:
Atome $270m = 60%
Investor $180m = 40%
Is there any info re debt/loan repayment period and interest terms?
If so, we can use this to model income and the share price |
It seems not to dislike the news.
I do find it a tribute to the management who appear to be better able to obtain funding than buildings. Real news about real physical progress would be appreciated by me. perhaps my I.T. background leads me (falsely) to believe most things can be achieved in days rather than years. |
A welcome RNS. Will the share price agree? |
Dropping like a stone, why I do not know! |
The share price is dropping in the predictable manner and I suspect (I do NOT know for sure) there will be some announcement from the company soon that will lift the share price the usual 15-20%.
The real question is 'how soon'?
And, Barony - check this link:
Price for ammonium nitrate imported into the UK - about £340 a tonne - delivered price. |
What is typical sell price? Surely substantially higher than $65/tonne? |
OK. What's the 'dropbox' and where is this located? |
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