Porvair Share Discussion Threads

[bobdouthwaite] 02/2/2006 20:32

Coal cleans up to be the king again:

[wynmck] 02/2/2006 17:21

Return to profit growth for Porvair"...Article P61,todays Shares mag,Porvair has secured 3 new trials of its coal gas filters,helping to prise the door opento a $100 million a year market

[dolphinspirit] 26/1/2006 08:41

I stand corrected on some of my point,
I'm holding on a loss at the moment, some my views might be a bit Biased
against the company, well until I break even.

D

[wynmck] 25/1/2006 18:25

Comment from Mail today;Porvair added 7'/2p at 128'/2p following impressive results.Evolution advised clients to buy and was pleased to hear that three new customers are trialling its coal gasification filter

[25october1969] 25/1/2006 14:12

Hi Bob and thanks for the gasification link.

My understanding is that as far as Porvair are concerned, the bipolar plates are successful, just the small matter of persuading the customer, which in this case is United Technologies.

As reported in the FT today

""its bipolar plates are being used by United Technologies in prototype vehicular fuel cells"

I appreciate still scope for a lot to go wrong

[bobdouthwaite] 25/1/2006 13:12

25October, and thanks for the foolish link

[bobdouthwaite] 25/1/2006 12:56

25October, you say Porvair's bipolar plates for fuel cells are already successful, but the recent results suggest their use is still at the feasibility stage and there is much more to play for:

"Our bipolar plate for fuel cells has made good technical progress in 2005. We are now confident that it can be mass produced efficiently. This moulded product, when compared to those produced as recently as 2003, offers similar technical performance at almost one tenth of the price. Final qualification trials at our lead customer, UTC Fuel Cells, LLC, started at the end of 2005."

Use of the coal gasification filters could indeed be big business given the US's exposure to imported oil, and huge coal reserves. The attached links may be of interest:

[25october1969] 25/1/2006 12:12

Porvair are not trying to make fuel cells, they successfully make bipolar plates for fuel cells. They have a deal with UTC who have license deals with Honda and BMW. Of far more interest is their other "Advanced Materials" especially those for use in diesel exhaust and gasification.

Income from diesel exhaust will arise this year and gasification is a $100m oer annum market. Here they have already entered into a contract with SG Solutions for the Wabash IGCC facility but I do not have any financials for that

I agree with your point that 15m is a lot for a small player to spend on new technology but take comfort from the quality of the partners they have already got into bed with.

[dolphinspirit] 25/1/2006 11:28

My point is, in the last 4 or 5 years Porvair has pumped something in the reign
of 15 million into the fuel cell technology, with very little in return.

I realise that they are breaking into new ground, and it will take time.
Is there a market for this product, the obvious is in the replacing/complimenting
petrol/diesel engines in cars, but is porvair big enough for the car manufacture
to take seriously?

I would be surprised if oil company's are not investing in similar products to ensure
they maintain there monopoly in power generation systems. So what is left?
If they had got a product out a couple of years ago then yes there was a market, but
the longer they take to get the product to market, the competitors there are, and porvair
could find it self a little fish in a big sea.

[25october1969] 24/1/2006 22:20

in case anyone is interest I did a post on today's results and presentation here:



I fail to see the point you are making Dolphinspirit - it is like saying that without their oil sectors, Shell would look rather sad! But no point arguing as I assume we are all on the same side

[jonwig] 24/1/2006 16:42

D,
the company's strategy (for the past few years) has been to invest in 'modern technology' areas.
This is described in detail in the last annual report.
The filtration businesses provide the cashflow whilst the new businesses are developed.
As you see from the share rating, the market is buying the story.
So 'sad' isn't an accurate description of what's going on.

[dolphinspirit] 24/1/2006 15:37

As I said, with out the filtration sectors the group would look rather sad.

D

[dolphinspirit] 24/1/2006 15:36

Filtration and environmental technology group Porvair PLC
said it has made good progress in core and growth areas as it posted an 18 pct
rise in annual pretax profits before goodwill and exceptionals to 3 mln stg.
Porvair said its specialist filtration businesses performed well in the year
to Nov 30 with operating profits before goodwill amortisation and exceptional
items lifting 29 pct to 5 mln.

[dolphinspirit] 19/1/2006 13:19

I still hold to my privious comments, I'm looking forwards
to the next set of results to see how well they prove my point.
D

[jonwig] 19/1/2006 11:56

Dolphinspirit,

Picks and shovels for the fuel cell industry.
From the website:

Porvair produces high performance low cost bi-polar plates for the fuel cell industry. The Porvair plate material is unique in the industry and offers fuel cell manufacturers outstanding electrical properties, low density and a compact design for static and vehicle fuel cells. A typical Porvair plate has in-plane conductivity exceeding 500S/cm and through plane contact resistance of less than 10mohms-cm2, is 30% lighter than competitive materials and can be manufactured with a web thickness of less than 0.4mm.

I held these in early 2005 and took a quick, smallish profit.
Time to have another look, perhaps.

[dolphinspirit] 19/1/2006 11:47

What fuel cell prospect???
The majority of the company's money comes from the fitration
sectors of the company. Take them out of the equation and the
group as a whole would look rather sad
d.

[bobdouthwaite] 19/1/2006 11:44

No specific questions 25Oct, but thanks, and I'd very much appreciate your take on things, especially on fuel cell prospects.

[25october1969] 19/1/2006 00:01

Results out next Tuesday, I will be attending analysts meeting that morning and visiting company the following week if anyone has any questions they want to put to the company let me know

[grim] 18/1/2006 21:37

Is there anybody there?
Why no RNS for results in November & no postings since? Anybody interested anymore? Good contra signal probably.
regards,
GR

[pawdaw] 15/11/2005 10:14

Just to break the boredom

[25october1969] 27/10/2005 20:50

Interesting deal today, PRV buying 21% for £6m which means they value the whole at around £30m or paying a large premium for a minority stake. Pity it is an all cash deal as good to lock in the directors of PFG with shares. Disappointing that vendor placing at just 110p and no take up by PRV board but does set a sort of floor

Trading update also promising

[grgkecer] 15/8/2005 16:01

British Gas signs deal with Ceres Power:
Fuel cell boiler to provide home heat and electricity

[wynmck] 15/8/2005 15:01

This has been sneaking up in the last couple of weeks....
Xd Wed 17th by the way

[grgkecer] 15/7/2005 09:57

Fuel cell buses reach milestone - 14th July 2005

[mikehardman] 28/6/2005 10:23

interims - look quite good to me; price nudging up a smidge, now testing that key 120p resitance level; thin trade, as so often, though