Polyfuel Share Discussion Threads

[morgs] 25/4/2008 11:28

I don't expect any surpises. Added 8000 today.

[unionhall] 25/4/2008 10:54

I've been following the company for three years and (so far) their accounts have never added anything new to previous operational updates.

[jonwig] 25/4/2008 10:45

callum - results on their own don't often do much for early-stage companies such as this one.
They've already laid out a timetable, and I think it will be later this year before they can reveal the extent to which they've solved the remaining problem areas.
Of course, the membranes business should be progressing well!

[callumross] 25/4/2008 10:38

anyone think this share will rally following publication of the final results on Monday, or will it just be a rehash of the earlier trading update?

[unionhall] 10/4/2008 08:37

thanks jon...

[jonwig] 10/4/2008 06:03

Interview with J B - more background:

[jonwig] 04/4/2008 18:28

In the H1 results to 30/06/07 they said:

"... sufficient cash to finance the business into the second half of 2009 by
which time we believe that our customers test market activities will have led to
commercial business for PolyFuel."" It was US$17.4m.

During H2 they received US$2m funding from the US National Institute of Standards and Technology. They will have used up about £2m in H2 operations.

The FY results are due on 28/04.

Note the cash of about £7.7m set against a current MCap of £12.1m. Enterprise value £4.4m.
How daft is that?

[unionhall] 04/4/2008 15:16

Very clear and confident strategy.

Hope the funds are adequate...

[callumross] 04/4/2008 15:11

great find, jonwig

[jonwig] 04/4/2008 15:06

It seems we have a timescale:

Polyfuel bids to speed time to market for laptop fuel cells
by David Manners
Friday 4 April 2008

Electronics Globalpress Summit Conference - News roundup

By the end of this year, fuel-cell membrane specialist, Polyfuel, expects to have completed a reference design for fuel cells which will, believes the company, accelerate the time to market for fuel cells for laptops.

"We expect to have achieved the reference design and a prototype by the end of the year", Jim Balcom, CEO of Polyfuel, told Electronics Weekly at the Globalpress Summit Conference yesterday. "We think it will then take about twelve months to go from prototype and reference design to complete the technology transfer to our customers, and we expect it will take our customers another twelve months to get manufacturing up and running."
AdTech Ad

So, in 2010, fuel-cell powered laptops will run all day. Ten hours run-time is Polyfuel's specification for its lap-top fuel cell.

The company has got the best customers in the industry: NEC, Toshiba, Sony, Sanyo, Hitachi, Samsung, Fujitsu, Sharp, Panasonic and BYD the Chinese battery company.

Polyfuel is a membrane supplier and has no immediate intention of becoming a fuel cell manufacturer but, in order to accelerate the introduction of fuel cells into the market, it set itself five tasks:

1. Develop a conceptual design for a complete fuel cell system that can outperform Lithium-ion batteries, and identify the membrane and MEA requirements to support this.
2. Engineer a membrane that has a high level of water permeability but a low level of methanol diffusivity - usually mutually-exclusive attributes.
3. Design an MEA that can recycle much of the water that is created in the fuel cell back to and through the newly engineered membrane.
4. Demonstrate the "proof of concept" by operating a fuel cell incorporating the newly-engineered membrane and MEA in perfect water balance using the conceptual system design target operating conditions.
5. Incorporate that cell into a functioning notebook PC power module and demonstrate it powering a commercially-available notebook computer.

Now it has only task number 5 to complete, and that is expected this year. Asked why, if the company has done all this work on the system, it doesn't want to produce fuel cells itself, Balcom replied: "We prefer the Intel or Goretex business model. We think if you have a unique, differentiated technology, that is well protected by patents, that is a more profitable way to go." Both Intel and Goretex are more profitable than their customers.

In order to succeed with the Intel/Goretex model, you have to have a product which customers either have to have because it is narrowly sourced, or which is clearly superior. Polyfuel's confidence in pursuing this business model is because it reckons its membranes are better than the membranes of the industry's No.1 membrane supplier, Dupont.

"The membrane needs to separate the reactants, conduct the protons and isolate the electrons", explained Balcom, "the Dupont membrane falls down on the first of those. It doesn't separate the reactants very well, the methanol seeps through, and reacts with air, and creates extra water."

[don muang] 01/4/2008 20:54

Yeep.... But it is April Fools Day.... !

[morgs] 01/4/2008 14:16

But they have now !

[don muang] 31/3/2008 20:56

Well, two transactions today - both sells - but MM's haven't dropped the price......

[unionhall] 31/3/2008 20:07

Nope - no interest in joining your silly games...

No offence meant....

[asparks] 31/3/2008 09:40

union - I dont think DM has filtered me, but just in case he has please post this again for me (much appreciated). Its an extract from RGY trading update released today:

"On closing of the various contracts being negotiated, the Directors are
confident that positive cash flows in to the Group will be generated within the
current financial year."

[don muang] 29/3/2008 20:00

Food for thought ..... an article from five and a half years ago:

'Gas-powered notebooks get lighter'


And for Euro 3160 you can get some up to date bedtime reading:

This report analyzes the worldwide markets for Fuel Cells in Millions of US$. The major product segments analyzed are Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells.

[don muang] 29/3/2008 19:41

.... but in a 'strange' way very therapeutic (for me anyway - but usually just on this particular thread when I'm at a lose end and it's hissing down outside)..... admittedly very boring for other posters ...... so perhaps it would be more interesting to start a sweepstake on when (or if) PolyFuel will complete Stage 5 i.e. incorporate the fuel cell into a functioning hybrid power module and integrate it with a commercially available notebook PC.... ? Perhaps it'll be achieved before they've solved the baggage problem at T5 LHR ;-)

[unionhall] 29/3/2008 19:32

filtering was a good idea in the circumstance.

commenting on his every post which you cannot read is somewhat annoying.

[asparks] 29/3/2008 12:36

unionhall (et al) just ignore DM - he is demented

[unionhall] 29/3/2008 11:15

DM - he is just posting some info.....

[don muang] 28/3/2008 19:00

asparks - 28 Mar'08 - 18:46 - 1108 of 1108 (Filtered)

Oh, look, it's a message from the guy who went overweight in RGY .... I hope he is aware that it'll soon be 31 March 2008 !

Have a good weekend one & all ....