Mustang Energy Share Discussion Threads

[dontay] 12/4/2023 08:45

If (i) the full amount of the 2023 CLNs has not been raised by 30 April 2023;(ii) the full amount has been raised, but Mustang has not obtained binding commitments of at least US$15 million towards its proposed fundraise at Readmission, nor funded Enerox with another US$1 million until the end of June 2023, in each case by 31 May 2023; or (iii) Mustang has not obtained approval of its proposed prospectus in relation to Readmission by the 30 June 2023, Garnet will have an option to terminate the Garnet Acquisition, and upon investing a minimum of US$3.5 million into EHL, take a controlling position in EHL. In such circumstances Mustang may still choose to complete the Acquisition (Stage 1), Acquisition (Stage 2) and Acquisition (Stage 3) and continue to Readmission but only with its minority position in EHL which would be approximately 46.4%.The sale of Bushveld's interest in VRFB-H to Mustang is an important part of the Group's previously announced process to carve out Bushveld Energy into an independent entity focussed on the VRFB value chain. The carve out is now expected to be completed during the second half of 2023.

[begorrah88] 12/4/2023 07:58

MUST is proposing to raise a minimum of US$15,000,000 through the issue of new ordinary shares (the "Fundraise") to new, and potentially existing, investors.

Wonder how many 'existing investors' will be keen to trust MUST with any more of their money after having had their original investments kidnapped for [so far] a minimum of 2years+ ?

[begorrah88] 12/4/2023 07:47

...and who'd have thought MUST have been able to manage all these agreements while waiting for the FCA to approve the prospectus!

[begorrah88] 12/4/2023 07:44

.....and here is todays latest pretend date...

'If Readmission does not occur by 31 July 2023....'

At least DG is keeping himself busy by moving all the deckchairs around.


Garnet appear to be the winners here by being able to get out with something.

[megaman2] 07/4/2023 13:38

Is cellcube in liquidation? Probably at least they know the ropes ...

[dontay] 06/4/2023 22:06

February Eskom Data. 13 GW of private projects now at budget quote stage.Https://twitter.com/GaylorTIPS/status/1643906572144238596?t=T8OBzpZM_y6FuuGSLZEVPg&s=35

[dontay] 06/4/2023 12:30

Flow battery sector responds: We can meet specs for 513MW South Africa tender.April 6, 2023The downstream arm of vanadium producer Bushveld Minerals and other industry sources have responded to yesterday's Energy-Storage.news article about flow battery technology's suitability for a tender in South Africa.In comments provided to Energy-Storage.news published yesterday, consultancies Clean Horizon and Harmattan Renewables said that the technical requirements of a recent 513MW/2GWh battery storage tender in South Africa would prevent flow batteries from participating. Specifically, they cited the round-trip efficiency (RTE) at the point of interconnection of 70%.A spokesperson for Bushveld Energy, the downstream energy storage arm of Bushveld Minerals, provided a written response to Energy-Storage.news:"This is incorrect. There are numerous flow battery technologies and companies – over 20 firms that produce vanadium-based flow batteries alone. Flow batteries range anywhere from 50-80% RTE at the grid connection," they said."CellCube, a (vanadium refox flow battery company or VFRB) company in which we are a shareholder would be able to deliver flow batteries with an RTE over 70% for this tender. While some flow battery technologies and companies may not be able to meet this threshold, others can."A energy sector investor responded in a similar vein, and Bushveld Energy also pointed out that the consultancies' comment that there was "not manufacturing capability in South Africa" for energy storage was untrue:"For example, Bushveld Energy and the Industrial Development Corporation just finished construction of an 8 million litre vanadium electrolyte plant in East London, South Africa. Vanadium electrolyte alone contributes ~40% to a flow battery's costs, and we expect a vanadium battery installed in South Africa to easily achieve ~60% in local content with existing domestic supply chains."In revised comments provided to Energy-Storage.news in response to various requests from industry participants ad observers, Clean Horizon and Harmattan Renewables said the RTE requirement "...will make it difficult for flow batteries to participate, and lithium-ion battery energy storage is likely to dominate. The fact that the RTE is measured at the grid connection will further affect project development decisions."They also acknowledged that the VRFB sector does have local manufacturing capabilities but that the domestic content requirements for the tender will likely need to be met by the balance of system (BOS).Bushveld Energy said that the 513MW tender from the Department of Mineral Resources and Energy (DMRE) actually had some favourable conditions for flow battery technology. Specifically, the high number of cycling the battery systems would be required to do and the length of the contract."Requirement for two full, four-hour long charge and discharge cycles per day. This high cycling is perfect for the non-degradation of flow batteries and will increase augmentation costs significantly (not to mention future price risk) for anyone bidding lithium.""15-year supply agreement, which, while less than the 20-25 year lifetimes of flow batteries, exceeds the typical 10 year warrantees offered on lithium ion batteries."Bushveld Energy said that the company's new plant in South Africa would be producing enough electrolyte to support a bid. Energy-Storage.news has asked the firm to confirm that CellCube would therefore consider bidding into the tender but the spokesperson declined to comment.The projects range in size from 77MW/308MWh to 153MW/612MWh in required energy storage capacity, yet CellCube CEO Alexander Schoenfeldt recently told Energy-Storage.news that he estimated, outside of China, the global VRFB supply chain in 2021 had just 30MW of annualised production capacity. Although this is set to grow substantially in the comings years, it means VRFB deployments today rarely go above a few megawatts of power."Given that COD on the batteries in this tender is only expected in early 2026, this plant can make enough electrolyte to fulfil at least one and possibly two successful battery tenders (out of the five), should vanadium redox flow batteries win them. There is also more than enough vanadium oxide production in South Africa, as well, to supply feedstock to our plant for these installations," the spokersperson said.Https://www.energy-storage.news/flow-battery-sector-responds-we-can-meet-specs-for-513mw-south-africa-tender/

[megaman2] 04/4/2023 06:36

Cellcube must surely be ready for administration now without funding
This has to come to an end very very soon.

[begorrah88] 03/4/2023 08:37

LOSTOne CEO, answers to the name of DeanLast seen over 4 months ago heralding an additional purchase to a portfolio that only exists in his fantasy world.We think he should be ok as he continues to pull C£2500 pw out of the shell that we all invested into.Was due to tell us all where our money went but hasn't been heard of for a long time now.If found please return to his desk & RNS machine as we are all eagerly awaiting the next round of excuses & pretend future dates.

[begorrah88] 23/3/2023 13:53

Still working through the process means not yet submitted to the FCA in my book. That email is just the usual pat nonsense for 'we are no further forward'. Of course DG hopes to issue an update (not a prospectus mind, an update!) asapI've contacted the FCA to ask what is going on here - don't expect a reply but have included that DG has implied it is the FCA holding it up as that might pique their interest if they have never received anything.

[megaman2] 23/3/2023 12:09

11
We are still working through the process:hoping to publish an update asap(emailed received!)

From.lse ...
An update ...
Maybe ...
As expected really but how does cellcube survive ?

[megaman2] 22/3/2023 12:42

Cellcube liquidation if there is no cash
No prospectus no news no cash

How is this company continuing to trade ?

Invinity has made a net loss of more than $20 million annually for the last 3 years ...

Surely cellcube is similar but it only had $30 million 2 years ago ..doesn't add up. No orders since November senior staff leaving red flags waiving .

[megaman2] 22/3/2023 12:40

Cellcube liquidation if there is no cash

[begorrah88] 22/3/2023 11:18

4 months ago they said 'finalisation process...........which is well underway'Was that just BS? Have BMN been stringing MUST along? Is Gallegos even still there?He certainly isn't bothering to let anyone know anything about where their investments went.

[dontay] 20/3/2023 11:07

Australian Vanadium secures first site for high purity vanadium electrolyte manufacturing in Western Australia.17 March 2023Australian Vanadium (AVL) said it secured a site to build a high purity vanadium electrolyte manufacturing facility in Perth, western Australia.Vanadium electrolyte is required for vanadium redox flow batteries (VRFBs) used for long duration energy storage.AVL said the facility is part of its plan to add value to the mineral it will mine south of Meekatharra, with further processing planned for a site near Geraldton.Vanadium electrolyte manufacturing is key for AVL. It will be using US Vanadium LLC's electrolyte manufacturing technology with an exclusive licence for Australia and New Zealand.Graham Arvidson, AVL's CEO said the site is its first high purity vanadium electrolyte manufacturing facility. "With detailed design now complete and long lead equipment ordered, we are positioned to become a near term producer."Deliveries of all long lead equipment items are expected during the second quarter of 2023.The facility will be able to produce up to 33MWh per year of high purity electrolyte for the Australian and New Zealand VRFB markets.Https://www.bestmag.co.uk/australian-vanadium-secures-first-site-for-high-purity-vanadium-electrolyte-manufacturing-in-western-australia/?mc_cid=c058c95837&mc_eid=a78405b32f

[megaman2] 19/3/2023 17:33

Why are you posting this it was 4 months ago ? How they will finance this is more pertinent ....how is cellcube still keeping the lights on ? This must come to a conclusion asap ..I dont believe they have announced any contracts since ...

[dontay] 17/3/2023 09:40

CellCube tweet.More than happy to announce the signing of a 4MW-16MWH lighthouse project in Australia – the continent's largest VRFB system! Moreover an Agreement for common VRFB production with NHCE has been concluded. cellcube.com/australia-one-...Https://www.cellcube.com/australia-one-step-closer-to-24-7-green-power-supply-with-north-harbour-clean-energy-and-cellcube-plans-for-vanadium-redox-flow-battery-manufacturing-facility-and-purchase-of-4mw-16mwh-vrfb-lighthou-2/

[dontay] 10/3/2023 13:57

FLOW BATTERIES EUROPE.Ambitious global targets have been set for flow batteries.Flow Batteries Europe has recently published a position paper on Flow Battery Targets, outlining an ambitious goal of achieving 20 GW and 200 GWh of flow batteries globally by 2030, which is a key step towards meeting the European Green Deal's renewable energy targets.The position paper identifes a realistic yet ambitious flow battery target which was agreed in collaboration with Flow Batteries Europe's members which sends a strong signal to EU policymakers and private actors.In addition, the paper also highlights how long-duration energy storage (LDES) are vital to guarantee energy security in Europe and identifies flow batteries as an essential solution to mitigate the variable supply of renewables and stabilise electricity grids. It also reiterates the the importance LDES to ensure a stable and continuous supply of energy to communities, cities, and countries over long periods of time.Given the numerous advantages of flow batteries for LDES applications, we want to encourage the European Commission to acknowledge and endorse our flow battery target to help flow batteries become a European clean tech success story.Make sure to read the full position paper below on Flow Battery Targets. READ NOW..............Https://flowbatterieseurope.eu/news/ambitious-global-targets-have-been-set-for-flow-batteries/

[dontay] 10/3/2023 10:12

Peter Oldacre.Head of Growth Strategy of the Austrian battery energy storage system manufacturer, Enerox GmbH (CellCube) moves across to business partner - Kibo Energy to become - Group Business Development Executive.Group Business Development Executive AppointmentFri, 10th Mar 2023 07:00RNS Number : 4959SKibo Energy PLC10 March 2023Peter Oldacre, over the last 15 years, has been instrumental in successfully developing 1,250 MW (One thousand two hundred and fifty MW) of solar and wind projects across North America, Europe, Middle East and Africa (EMEA), in a variety of senior Executive Corporate Appointments to eventually head the Growth Strategy of the Austrian battery Kibo hits critical strategic milestone in CellCubeKibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Announces it has achieved its first major framework agreement target by placing the first commitment to purchase the first two proof of concept projects. These projects relate to its signed strategic five-year framework agreement with CellCube to deploy long-duration energy storage in Southern Africa.This comes shortly after Kibo signed a rolling five-year agreement with Vienna-based Enerox GmbH in May to develop and sell CellCube-based vanadium redox flow batteries in selected sectors in southern Africa. The contract seeks to deliver a project pipeline expected to exceed at least 1 gigawatt over the course of five years.Https://www.ajbell.co.uk/articles/latestnews/246823/brief-kibo-hits-critical-strategic-milestone-cellcube-agreement

[dontay] 09/3/2023 09:32

*World's biggest lenders and investment banks increasingly figuring in storage financings.*Strengthening conviction regarding the potential of standalone projects and long-duration storage.*Santander and Goldman Sachs among the institutions with the most extensive track records.3 MARCH 2023In a sign that energy storage is increasingly being viewed as a mainstream asset by the finance community, some of the biggest lenders and investment banks in the world have provided backing for storage deals in recent times. Such is the increasing confidence in the ability of energy storage to produce attractive returns that major players such as Goldman Sachs have shown a willingness to back companies that develop standalone storage – previously, the biggest finance providers had generally confined themselves to projects that combined storage with solar. This reflects the fact that there is a growing consensus among finance providers that standalone storage projects represent the best way to consistently incorporate green energy into the grid. In another example of the market's evolution, leading lenders and investment banks are now convinced of the need for utility-scale long-duration storage – so much so that they are providing substantial finance for alternatives to lithium-ion batteries, such as compressed air storage technology.Santander has been one of the pioneers of green energy finance and has developed an impressive track record in the field. Goldman Sachs also stands out as one of the more forward-thinking financial institutions when it comes to energy storage investments. However other big lenders and investment banks are piling in, and the last year saw the likes of Morgan Stanley, J.P. Morgan and Bank of America figure in some of the sector's biggest financings.Here we bring you a run-down of the track records of major lenders and investment banks in the field of energy storage investment:..................Https://www.tamarindo.global/articles/major-lenders-and-investment-banks-faith-in-storage-grows

[begorrah88] 08/3/2023 13:23

There us no definitive maximum period for how long a share can remain suspended but the FCA have the authority to cancel a stock listing if the company cannot prove ability & intention to relist (if it was suspended as a result of a company request).I'd say we are in the territory now when the FCA is looking very closely at MUST.

[dontay] 08/3/2023 11:19

Bushveld Minerals.Today we celebrate a milestone for our first of its kind 3.5MW solar PV and 1 MW/4 MWh VRFB mini-grid project. Our @cellcube battery has arrived on site at Vametco mine. #renewableenergy #vrfbs #energystorageHttps://twitter.com/bushveldmin_ltd/status/1633419842219921410?s=46&t=23Xg_duPnX4O4imSF2LEFw

[dontay] 08/3/2023 09:35

Five substation sites specified in 513 MW battery storage tender.7TH MARCH 2023 The Department of Mineral Resources and Energy (DMRE) has confirmed that five substation sites have been specified by Eskom for the public procurement of battery energy storage systems (BESS) with a combined capacity of 513 MW and a minimum of four hours of storage, or at least 2 052 MWh.A bid submission date of 17:00 on July 5 has been set and preferred bidders will be announced about two months thereafter. The projects are expected to be in operation 24 months after reaching commercial close.The request for proposals (RFP) was launched on March 7, but the documentation is available for download only once a prospective bidder provides confirmation that the R25 000 documentation fee has been paid.The IPP Office tells Engineering News that the payment of a documentation fee has been standard practice for all of South Africa's independent power producer programmes ever since the launch of the first bid window of the renewable procurement programme in 2011.There have subsequently been six other renewables bidding rounds, as well as a risk mitigation bid window, through which 11 904 MW of mostly wind and solar capacity has been procured from 134 projects. Not all of the projects have reached financial close, however, and a coal procurement programme was abandoned.The IPP Office tells Engineering News that the total capacity being procured is 513 MW and a minimum installed energy rating of 2 052 MWh has been stipulated, but the actual installed energy rating will be a bidder risk and part of a bidder's business case.The programme's technical parameters have been provided by Eskom Transmission's system operator, together with transmission grid planning and distribution network planning, which identified the following substation sites:Aggeneis 77 MW, at a minimum installed energy rating of 308 MWh;Ferrum 103 MW, at a minimum installed energy rating of 412 MWh;Garona 153 MW, at a minimum installed energy rating of 612 MWh;Mookodi 77 MW, at a minimum installed energy rating of 308 MWh; andNieuwehoop 103 MW, at a minimum installed energy rating of 412 MWh.All the substations are located in the Northern Cape, and each bid response must be for the full substation energy storage capacity. The department intends selecting a single preferred bidder at each substation.The RFP does not stipulate the type of battery technology, but the IPP Office stresses that the solution must be capable of performing in accordance with the RFP requirements.........Https://www.engineeringnews.co.za/article/five-substation-sites-specified-in-513-mw-battery-storage-tender-2023-03-07/rep_id:4136#.ZAef87P24Yk.twitter