http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Sunshine low on the horizon then!

Or another false dawn!

Yesterday's closing Candlestick was a Bullish Hammer ( This pattern occurs at the bottom of a trend )

Bullish Harami here we come then!......maybe.

Not quite the same thing Harry - but here's hoping anyway.

is that kobe beef?

Oh great! I thought a Bullish Harami (not Pastrami) followed a bullish hammer. Back to drawing board for me.

DEFINITION OF 'BULLISH HARAMI' :-)

Cheers for that. Fortunately I don't day trade otherwise I would be broke by now!!!

And there was me thinking a Harami and a Pastrami were both curries!

Only 10 trading days left until our quarterly update is due .
Buy before the herd .

Capital investment is the point we have an excellent product well run Company, now orders is what we need


The herd here know nothing by the look of postings above, maybe a Salami could do the job for some

pim - internal ragging you silly boy :-)

WINS gone up on the bid, something a foot?

just about linked to AFC, Tesla (US stock)might be worth a look
i don't hold any but have watched for ages

WINS gone up again now 36p bid, it looks like is doing most of the trades
NOVM has also move up after 10K buy but is on a lower bid

A couple of articles worth reading

AFC Energy boss says "keep the faith"
By Harriet Mann | Fri, 11th September 2015 - 10:45

AFC Energy boss says "keep the faith" After its meteoric re-rating earlier this year, AFC (AFC) has gone from bombed-out AIM reject to a stockmarket darling. The alkaline fuel cell company has turned the technology used in space missions into a commercial power supply after unveiling a new, accelerated timeline at the end of last year. With the technology under its belt and its pipeline beefing up, it's no surprise the shares surged by as much as 771% this year.
But the group hasn't been immune to global market weakness, although boss Adam Bond assures investors that the firm has little exposure to China. AFC's shares have had a rough ride over the last couple of weeks, losing 44% of their value from July-highs at over 60p, no doubt some of that due to profit-taking. They're down 30% in the past ten days.

"The share price has been hit quite hard over the last couple of days for reasons we don't really know," chief executive Adam Bond told Interactive Investor. "I think the market was wondering whether there was something going on they didn't know about. All is still on plan; there is no reason for this fall that we are aware of. Keep the faith."

Since we first met with the newly appointed CEO last December, Bond has been pushing AFC to achieve each of its 11 milestones, introduced to accelerate the firm to commercial production. Targeting 1 gigawatt (GW) of capacity by 2020, the group is on track to have its 240 kilowatt (kW) German Power Up producing by the year end. It's also signed three commercial deals in Korea, Thailand and Dubai before the half year, for 50 megawatt (MW), 10MW and 300MW plants respectively.

"We remain confident that the scope of the company's pipeline, being an expected 1GW of capacity under development or in operation by the end of 2020 will be delivered and indeed, most likely exceeded," said the company.

Bond has kept his foot on the gas, and it's paid off. AFC signed its first commercial power purchase agreement with the local utility company Stadtwerke Stade at the end of July and its first KORE fuel cell system achieved operation in Germany.

"The intention is not to drive a profit [from its Stadtwerke PPA], the intention is not to make millions of dollars," explains Bond. "In ter=ms of revenue we are probably looking at tens of thousands of euros per annum, so this is not going to move the share price and it is not designed to. Given that we are producing power, we might as well sell it and generate some revenue. But operating a fuel cell gives us the opportunity to learn how to operate a fuel cell in a commercial power market."

With his eyes set firmly on the final two milestones, AFC reckons it will have sold its first power to the grid within the next month, with its 240kW KORE plant operating at full capacity by the year end. Of its targeted 1GW capacity, the group also has its 360MW pipeline and Bond has bought a new commercial director on board to transition these agreements into binding contracts.

"We don't want to go down the path of having a gigawatt of memorandum of understandings (MoUs) and have not delivered anything. It becomes one of the typical AIM tricks where you pump the share price but don't deliver anything. I don't think that adds any value to us, so it's getting that balance between delivery and pipeline development."

Still, the boss is confident AFC will be profitable by the end of the 2016 financial year, although he notes that as the number of opportunities grow, so will its cost base. The group received monthly derivative swap payments from Lanstead Capital, which the group will continue to receive for another eight months, and has £3 million cash in the bank. To expand, it will need more money, and there a number of options AFC is considering, including strategic partnerships, licence agreements or, of course, coming to the market.

While it wants to keep its intellectual property under wraps, the group is in talks with manufacturers to outsource some of the building process. Bond doesn't want to rush the decision, but hopes an agreement will be made by the end of the year.

"We are being very aggressive in our go to market strategy. We are creating timelines that are very tight, but we are delivering against all of them at the moment. When you set timelines you create expectations and the challenges then become how to deliver against that timeline. We are working bloody hard to hit all of our milestones, and so far so good."
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10 September 2015 - AFC Energy PLC
Progress Update

Highlights
· AFC remains on target to deliver on each of its two final Milestone's at Stade, namely Milestones 10 and 11, in accordance with earlier timeframes
· The Company continues to develop its commercial pipeline of opportunities with its current and prospective partners internationally

AFC Energy plc (AFC.L), the industrial fuel cell power company, is pleased to announce the following progress update. AFC can confirm that at this time, following the successful commissioning of the KORE system in Stade, Germany on 31 July 2015 and the associated power output achieved at the time of commissioning, it remains on target to achieve Milestones 10 and 11 of the 11 Milestone programme announced to the market on 8 December 2014. These Milestones, including the generation and sale of power into the German electricity grid, and for the first time, generation of the full nameplate capacity of the KORE system (240kW), are expected to be achieved in accordance with earlier announced timeframes in 2015. The Company's staff and subcontractors are currently on site in Stade finalising works necessary to deliver Milestone 10 and at this time, there is no reason to suspect this will not be achieved within the announced timeframe.

The Company also wishes to confirm that it continues to make progress in the development of its fuel cell catalyst and at this time, has seen further recent improvements in the power output generated from the cells as compared with that currently being trialled in Stade; this provides further confidence that the AFC fuel cell will be in a position to achieve its targeted capacity output of the KORE by the end of 2015.

Furthermore, ongoing dialogue is occurring with existing and prospective commercial partners and at present, we hope to be able to make further updates to the market on the progress across these opportunities over the coming months. We remain confident that the scope of the Company's pipeline, being an expected 1GW of capacity under development or in operation by the end of 2020 will be delivered and indeed, most likely exceeded.

Mr Adam Bond, AFC's Chief Executive Officer, said: "At this time, we wish to reassure shareholders that AFC remains on target to deliver on its key milestones announced in December 2014. We will provide further updates to the market on the KORE system at Stade and other commercial developments in the near future."

Dear Shareholders,
The past few months have witnessed some rather turbulent times for the world's stock and commodities markets but we at AFC continue to focus our efforts towards progressing our aggressive commercialisation strategy.

Our RNS released today reported that Yady Worldwide ("Yady"), a company wholly owned by the family of AFC's founder, has increased its holding in AFC by 7.04% with the acquisition of all the shares held by former shareholder, Linc Energy, for an undisclosed amount. Yady described the transaction as: "a rare opportunity to increase Yady's position in the Company at a time when we believe the future value of the Company is undervalued by the market". This transaction should remove any concern in the market of an overhang due to the potential divestment of Linc Energy's position. I am delighted that the family of AFC's founding shareholder has reaffirmed their confidence in AFC and the direction it is taking in accelerating the company towards commercialisation and achieving the goal so many long-term holders have aspired to for many years.

Again, I wish to acknowledge Linc Energy's support of AFC during the past few years which saw substantial investments into the company at various times over recent years in support of the technology's development lifecycle.

From a technical standpoint, the POWER-UP project remains our key focus, alongside further developments and advancement in the fuel cell performance itself.

Over the past three months, many of you will have seen the announcement in early August 2015 that we had successfully commissioned and commenced operations of the first KORE fuel cell system in Stade, Germany. In what I called one of the proudest days for AFC, the AFC team achieved a peak output of 7.56kW from a single operational fuel cell cartridge. Back in December 2014, we committed to reaching this milestone by the end of July, and whilst there were a few delays on the permitting of the facility, which delayed our commencement of construction by a couple of weeks, I'm pleased to say that due to the commitment of the teams both on the ground in Germany and back in our offices in the UK (together with a number of extremely late nights) we managed to achieve our target operating performance late in the evening of 31 July. This demonstrates to me not only the effort AFC's technical teams and contractors are giving to the delivery of this project, but also the seriousness by which we as a company give to the target dates and milestones AFC put into the market, and our own expectations of meeting or exceeding those targets.

We currently have two remaining project milestones for the POWER-UP programme in Stade. These consist of: commencing operation of a full tier (8 cartridges) of the KORE fuel cell system and subsequent sale of that power into the German electricity grid, and secondly, generation of the full 240kW nameplate capacity of the KORE system before the end of this year. Having had the opportunity to visit Stade yesterday, I continue to be confident of our ability to meet the final two milestones in the timeline outlined to the market. Indeed, we could expect to see the first tier operational within the next few weeks which will present the first sale of power into the German grid and provide further evidence of the robustness of our technology platform.

I think you'll agree that for the next three months, which will take us to the end of this year, you can expect some exciting and historic announcements from AFC.

http://www.moneyam.com/action/news/showArticle?id=5124026

I have posted earlier somewhere else .............

Overhang gone

It looks like the Market knew of - Linc - needed to sell and therefor the shares were slowly marked down till the deal was done. Now the last month holding at bottom flooring looks bullish for the UP again.

"This transaction should remove any concern in the market of an overhang due to the potential divestment of Linc Energy's position."