Bamboo,
every chance - if only I knew how!
Its what html code to use to link to it - I can't remember anymore!
I thought img src= used to work.
G. |
Hi garth, any chance of a candlestick chart in the header? |
 October 2020
"This project lays the foundations for our next generation coating product, with a significant cost reduction over current coatings. We already have the manufacturing capacity to produce coatings for 2GW of electrolyser capacity per year, but with product and production innovation we can increase that significantly."
PV3 Technologies has secured funding from Aerospace Cornwall to help support new research and development projects in green hydrogen.
Using the funding, PV3 will develop next generation coatings for PEM water electrolysers, a key component used in the green technology. The coatings mean that PV3 is able to reduce the cost of hydrogen production by increasing both energy efficiency and lifetime of the electrolyser; which enable water to be split into oxygen and green hydrogen – without the production of carbon dioxide.
This funding builds on previous Aerospace Cornwall support, with which PV3 developed coatings for advanced fuels used in unmanned aerial vehicles.
PV3 chief executive Dr David Hodgson said: "The EU’s hydrogen strategy lays out the potential for nearly 50 GW of green hydrogen capacity by 2030, and we need to support our customers by matching their demand and innovating to further reduce the overall cost of the technology.
"This project lays the foundations for our next generation coating product, with a significant cost reduction over current coatings. We already have the manufacturing capacity to produce coatings for 2GW of electrolyser capacity per year, but with product and production innovation we can increase that significantly."
Gail Eastaugh, programme director at Aerospace Cornwall, added: "There is a huge opportunity in green hydrogen. The UK is already in the race with a big project happening in the Humber but it’s amazing for Cornwall to be part of this with local funding for a local company like PV3.
"PV3 is just one of many businesses we are working with at the moment, in and around Cornwall. We’re urging technology companies to come forward and have a chat with our team."
hxxps://www.insidermedia.com/news/south-west/pv3-technologies-secures-funding-for-new-green-hydrogen-projects |
Well, well, well. Up 20% today. Hadn't seen that coming. It places us right at the top of the descending channel we have been in for some time. Unless things go totally pear shaped Stateside then I expect we might break out tomorrow.G. |
This from November 2018. PV3 incubating AMALYST - graphene and fuel cells.
I wonder what the current relationship is?
Scale-up supports a start-up
Posted on November 4, 2018
PV3 Technologies, a leading supplier of electrochemical materials based in Cornwall and in scale-up phase, is ‘doing its bit’ by incubating graphene company, Amalyst.
One of the key challenges an early-stage company faces, is how to access the infrastructure needed to develop their intellectual property into a market-ready product. Incubators exist for certain sectors, but if a company needs more than a bean bag and a laptop, then it can be challenging.
Amalyst is a member of the EU’s Graphene Flagship, a €1bn programme to ensure the EU can exploit the potential of the ‘wonder material’ first identified by Nobel Prize winners at the University of Manchester. Collaborating with partners in the UK, France and Italy, Amalyst is working to develop advanced catalysts for the fuel cell industry based on graphene and other 2D materials.
Dr David Hodgson, CEO of PV3 Technologies commented: “The board of Amalyst were delighted with the prospect of working out of PV3’s laboratories. The ability to tap into PV3’s unrivalled expertise in the sector, to provide access to a unique suite of equipment and to supervise and mentor Amalyst staff were crucial elements of the decision. “
“Following-on from the launch of the Davy Initiative, an industry-led drive to promote the Cornish capability in electrochemistry and related materials, this is a further signal that Cornwall has a lot to offer to the world of electrochemistry. This arrangement is bringing additional employment opportunities to Cornwall in the world of 2D materials – does it get more exciting?”
“The arrangement is not without its challenges,” said PV3 Technologies’ COO Dr Nick van Dijk. “Our two companies are working in similar fields, so we’ve had to agree a very defined scope of activities, but the similarity also means we can leverage the work of both companies and we have arrangements for cross-licensing of IP in place, should we need them”
“I’m pleased we’ve been able to make this work,” said Hodgson. “Having done this once, PV3 would be eager to see if we could do it again and would welcome discussions with universities, or other researchers looking to spin-out their electrochemical ideas.” |
New Website, TFP Hydrogen
hxxps://www.tfphydrogen.com/
Guess those Hydrogen Economy guys may be here sooner than expected...
PV3's website now redirects to TFP Hydrogen. So if you want to read about PVP, established in 2011 then you need to view via "cached" on a search engine such as Google.
Vanadium Redox Battery Electrolyte
Flow battery developers have operated PV3’s electrolyte for vanadium batteries for many thousands of cycles in cells, stacks and systems. Our high purity electrolyte is now available in commercial quantities.
Electrocatalyst Powders
By developing our own high-performing range of catalyst powders for use in the production of membrane electrode assemblies (MEAs), gas diffusion electrodes (GDEs) and catalyst coated membranes (CCMs), we’ve been able to successfully deliver a product that meets the market’s demand. Our customers use these catalysts in fuel cells, batteries, water treatment technologies, water electrolysers and many more product areas.
Coated Electrodes
Our coated electrodes are industry-leading, cost-effective and facilitate the development of our customers’ technologies. We’re a facilitator to the advancement of electrochemical, low-carbon technologies.
Based on a range of nanostructured multi-layers of precious metals or mixed metal oxides (MMO), PV3 Technologies’ catalytic coatings contain active components comprising of platinum (Pt), iridium (Ir) and ruthenium (Ru).
PV3 Technologies’ nanostructured systems maximise catalytic phases and active surface area, offering significantly increased performance. We can add specific doping agents to our catalysts, which increases their overall performance further. We’re delighted when we work with customers to optimise formulations for their specific application.
The coating technology we use on our nanostructured systems has been specifically engineered to deliver cost-effective, high-performing and reproducible products that can be utilised across a variety of projects and end markets. Keeping our product cost-effective is an element of production that has been key to PV3’s core aims and values since our launch.
Our coated electrode technology is not shape or size limited, and has been applied to titanium, nickel and Magnéli phase titanium oxide substrates in the form of sheets, meshes, foils, powders, foams, sinters and more.
About us – PV3 Technologies
We are electrochemists, developing and manufacturing materials for electrochemical technologists. Our team has many years of experience in electrochemical technology development, so we understand what our customers are trying to achieve. Our goal is to provide products with high performance and high durability, at a sensible price
PV3 Technologies was founded in 2011, to exploit decades of experience in electrochemical and nano-materials. We operate a pragmatic business model, aiming to support and grow with strategic customers. As a result of the first phase of growth, we moved to larger premises in 2015 and have continued to invest since then. More recent investments have been made in:
X-ray analytical equipment
Glove box facilities for air and moisture-sensitive materials
New production equipment for increased throughput, high reproducibility and productivity.
Unique QC equipment developed jointly with customers
A wide range of electrochemical hardware, allowing us to perform cyclic voltammetry, impedance spectroscopy, linear polarisation and current efficiency measurements.
G. |
And we are away. Did a broker issue a note I wonder?
G.
P.s Some initial housekeeping done on the header. |
Bamboo,
I think it is fair to say that house-keeping task is well overdue.
:0)
I will aim to work towards some updates. Can't quite believe that 15 years on it is still being used!
G. |
garth, any chance of a header refresh?
At least maybe remove some of the really out of date stuff/broken links etc? |
VPRT,
Thank you for the feedback and for your comments.
If one looks at the 5 year chart we are at the top of a descending trend. The gravity of that trend and the likely outcome for the year may well leave me regretting my decision! I do think it entirely possible that we will end up in a bear market and under those circumstances I would not rule out £6 here.
Alternatively, we may continue for some time with a bull run and, with a wider interest mounting in green energy, the valuation here might just get silly to the upside.
Whichever way those two play out I expect these to be higher in five years. If they tank along the way the nursed loss will leave me fed up, but I would expect to use it to accumulate more at lower levels. I have had a good old run this year and had some profits to park somewhere. I had been looking for some time for the catalyst to be back here.
We'll see. We have had a year now of historic low pulp prices and energy costs have been lower too. It will be interesting to see how that reflects in overall costs.
G. |
Garth: Many thanks for your comments. Good to see that you are back in and that you have followed the company for a long time.
After some quick research this morning (including re-reading Beddard's ii-review) I have taken a tiny toehold stake today to ensure that I follow it properly.
Despite a large pension deficit, paper troubles and a hard covid-hit, there seems to be very significant upside in two divisions. This is very difficult to value on current numbers, but longer term seems to be a promising bet. I like the family ownership and the heavy spending on R&D and capacity expansion in TFP, and that the problematic business is being restructured (a little, at least) with all employees involved in consultations.
But as a newbie I have a lot to learn here, and I might bail within months if I lose faith. Obviously, the valuation multiples are quite high whilst short term results are tanking. So I find it impossible to predict share price in the short term, and suspect a rollercoaster is ahead. (Also some risk of a fundraise, perhaps?)
I see the acquisition as probably very small (book value £0.7m according to CH) but an interesting statement of intent to grow in what is unquestionably a rapidly expanding market with growth for a decade or more, and like the complementarity.
I was delighted to see a very quiet board here! Prefer to avoid the H-hype for now. |
Interesting Hydrogen economy move this morning for CRPR.
I have been out for a while and moved some funds back in for the long term. Management spent two decades demonstrating that they could build a cutting edge business out of TFP via Fuel Cells and then aviation - that gives confidence re this new bolt on. And I prefer bread and butter plus jam to jam on its own.
I am concerned short term though about aviation impact on TFP and on papers with further lockdown. So there is some powder left to follow a possible poor trading statement or it all going wrong this week in the US.
It was a little too easy to pick some up first thing so I suspect we may have a seller.
Might get interesting if the Green Energy/Hydrogen Economy crowd ever catch on.
Any other views?
G. |
Investor's Champion comments in today's update :"TFP holds considerable potential and has, for several years, delivered the majority of operating profit and the highest return on capital. We remain of the view that it would be better to hive this off as a separate entity." |
p1nk, I have strong historical support at 710 560 360
Potential turn shows for 28/8/2020 |
Well COO jump was for a reason. Wonder where this will bottom? |
COO jumped or pushed.
Terse RNS.
COO is critical. |
Good set of results.
G. |
Trading update out.
On the positive side, the underlying business performance before COVID seems good. Pre tax profit above £6m and "well ahead" of market expectations.
On the negative side, they assume the next 9 months to be heavily impacted by COVID and somewhat loss making before recovering. TFP some impact from aero but fuel cells and wind energy resilient. Paper most impacted. Colourform impacted but to still continue growing.
Question for the markets and reaction today is whether to look through this. It is on most other stocks (many of which will be similarly impacted over reasonable timescales) and the market has always been fond of Cropper, so not sure that necessarily changes. If we assume normalised earnings here are 50p and put on 15-20x earnings (has traded well over this range on average over the last few years), gives fair value range of 750 - 1000p. Suspect we stay in that today but maybe ease back 5%. |
TUNG citing increased business as companies move away from paper invoicing. Shouldn't impact CRPR though. Watching to add some more for ltbh. Don't think it's that time yet though.Might well be wrong. It's a great little company. Think we still have a some reckoning to do on global debt. Maybe the Fed will hold it off this time. But a reckoning is coming. Aka Minsky.G. |
TUNG citing increased business as companies move away from paper invoicing. Shouldn't impact CRPR though. Watching to add some more for ltbh. Don't think it's that time yet though.Might well be wrong. It's a great little company. Think we still have a some reckoning to do on global debt. Maybe the Fed will hold it off this time. But a reckoning is coming. Aka Minsky.G. |
And an update on operations at Cropper from 17th April
We are still operating and distributing products, although we will be changing production capacity in certain areas for a period to balance supply and demand.
Orders remain strong for our Technical Fibre Products, particularly from the green energy sector for materials used in fuel cells and wind turbines. New enquiries are still coming in across the business, including new packaging orders for our Colourform moulded fibre packaging division.
There is lower than normal demand for paper, and from Monday 20 April paper production is being scaled back for four weeks. Sales and Customer Service are operating as normal and we will continue to finish and despatch from stock. During this period, more than 200 employees in the paper division will temporarily move onto the Government’s Job Retention Scheme. Other operations including Technical Fibre Products will continue normal production.
Meanwhile we continue to adhere to Government guidelines during the pandemic, with anyone who can work from home doing so and a number of new measures in place at the mill to protect the safety of staff and the local community. These include PPE masks being available for all employees.
We are actively supporting all staff including providing regular news and updates on our employee social media network, Workplace. Advice and information is available on a number of topics, including health & safety on the coronavirus, help and support networks and tips on working from home or being at home during the lockdown. This employee portal is designed to keep everyone connected in these unprecedented times.
In addition, a dedicated helpline is available through our private health scheme for any members of staff who want to discuss issues such as their mental health.
We send our very best wishes to all of our customers and suppliers and thank you for your continued support.
Think that's all pretty positive really. Especially as we know TFP is the real profit maker in the business. Thanks for the raw material price link, bamboo. |
Liontrust from January
Hold: James Cropper (CRPR)
Stevens classes herself as a “buy and hold” investor, who doesn't like to trade in and out of stocks, even though the micro-cap space can be volatile, which can create trading opportunities. “We like to hold companies for the long term and let the businesses do the work for us by growing,” she says. “ It allows us to be more relaxed about timing, not to worry about when to enter or exit from a position.”
James Cropper has been in the fund since March 2017, and she has topped up the holding along the way. She says: “It’s an interesting business located in the Lake District. They have been producing paper for over 200 years.”
The company has three divisions; the main one makes the low-volume high-quality coloured paper that it’s used in Burberry carrier bags, while the most profitable one is Technical Fiber Products, which provides the aerospace industry with a material made up of carbon fibres called non-woven. “You can find it on the outside of aircrafts made by Boeing and Airbus, and Ferrari and Lamborghini use it in their cars," says Stevens.
The third division is 3D Print, which produces environmentally-friendly paper packaging that substitutes more polluting plastic packaging. Stevens, however, points out that it’s very difficult to make it and keep the colour: “You have some pulp and you crush it under high pressure into shape. But when you crush it, the colour gets lost.” It is the growth of this final division over the next decade that Stevens is particularly excited about and which will ensure she stays invested for the long-term. |
One of the biggest problems facing the co, a year or so before CV, was high input costs as the price of paper pulp soared. Prices of CRPR's main raw materials have dropped significantly over recent months, and this could help towards early reinstatement of the divi, once CV lockdown is over.
Input prices down nearly 40% since the peak. |
I'm in over the last few days. Struggle to get a SOTP implying a market cap of less than around £90m. |
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