http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

I'm glad it was a success....but the market was complete crap (still is..)....21.5p at one time....

Correction: Result of Shareholder Offer
The Company's announcement of 18 January 2016 (RNS Number: 1083M) stated that it had received valid applications from Qualifying Shareholders for 20,503,271 shares (representing £4,100,654.20 at the Issue Price) and was therefore 3.6 times oversubscribed. This should have stated that it had received valid applications from Qualifying Shareholders for 21,348,417 shares (representing £4,269,683.40 at the Issue Price) and was therefore 3.8 times oversubscribed.

All other details contained in the announcement remain unchanged.

Heavily trimmed back allocation.
I applied for approx 17k shares and got approx 4k.

Same here and yet my account does not show a debit including the cash not spent, no doubt that will appear soon.

As we know the RNS re milestone 11 is imminent (my bets tomorrow), and the result has to be one of the most important since AFC was conceived.

If it's as good as we hope, orders must follow and of course the opposite applies, a negative or even a poor milestone result would result in delays until any problems that had materialised had been corrected.

It's pure uncertainty that is keeping the sp at it's current levels and if the result is not as expected, just watch the sp sink.

But who among us is not full of expectations that the results will be good, after all milestones 1 to 10 have been on time and positive, can't see why milestone 11 will let us down and saying that where do we think the sp will be.

I have only put my neck on the line re sp forecasting about 3 times in over 15 years of investing on the AIM, but my bet is 40p plus within a week of a positive milestone 11 and nearer 75p following first contract.

The above of course could be 100% wishful thinking, but the post heading is not!

Nice looking chart and now hoping for a strong push through 30p.

Roman Abramovich now holds 39,610,494 shares.

Glad it's rising, I regret not picking up a few more...but the market sp was terrible at Christmas....

Todays RNS shows that the number of shares owned by Mr Abramovich separately and also by his investment company Elvington have not altered, it is only the percentage of the total shares and voting rights that have altered, all down to the total number of shares having increased from the recent offer.

They have neither bought or sold any!

Ah, beat me to it Greek! For some reason I had a different figure in mind but it seems you are right, same number of shares!

Never easy to read these RNS's are they!

See how Abramovich is one of Putins best friend (telegraph today and BBC Panorama), now as Russia is looking for new ways to produce energy!!!! I says no more!

http://www.dailymail.co.uk/news/article-3416518

During the last few days of high wind, the owners of multiple wind turbines have been paid not to produce electricity as the National Grid can't cope with the extra power.

The premium paid per mega watt per hour not to produce is 3 times the premium paid to produce.
One wonders how that deal was concluded!

Also today EDF have cast doubt on their ability to raise the funds for the new Hinckley Power station which was initially expected to start producing power in 2017, now proposed for 2025.

As the project is backed by a government guarantee of £16 billion, who out there has any doubt that that figure will increase along with further delays.

So we have government backing for windmills that are either paid to be switched off or don't produce when mainly needed, IE cold and calm and for foreign built power stations that are expensive with the accompanying risk of being held to ransom (China involved).

AFC as we know is a UK based company with a power system that is as green as they come and will within a couple of years be able to produce electricity on demand without relying on wind or the ability of a foreign power to keep the lights on, and yet we hear almost nothing about fuel cells when energy policy is discussed by our forward (sic) looking government.

It wont be a case of, 'Will the last one out, switch the lights off', as there wont be any left on.

The policy of the mental asylum rules!

Surely they will have pre tested by now IE unofficial test.

I can't see then waiting till the last minute to officially test as it would look bad if expectations were not met, egg on ones face so to speak.

My bet is they tested yesterday and will release a RNS after close tonight in order to give the weekend for existing investors and potential investors to take the results in.

I will be on tender hooks most of the day hoping I am right (with a very positive RNS of course).

On another discussion board posters have regularly complained about the minimal amount of RNS released by AFC. I suppose the institutional investors, who are the majority shareholders, don't need to be comforted by regular updates, but the retail investors are a bit more demanding.

Hi Harrycat,

Not at all religious, but thought a quick prayer to Tyche, Greek god of fortune can't do any harm!

Great RNS.

System still needs a bit of tweaking (as expected) but the results could not be much better than this!

Shows the power of prayer, see my last post.

AFC Energy Achieves Milestone Power Output from KORE Fuel Cell System in Germany
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that following an intense and accelerated twelve month fuel cell development programme, it has successfully delivered gross electrical output in excess of 200kW at its KORE fuel cell power plant in Stade, Germany.

Highlights
The commissioning activities of the KORE system over the past five days concluding on 31 January, delivered a series of firsts for the technology with a summary of the key achievements for the AFC proprietary fuel cell cartridge and balance of plant including:

· In excess of 200kW of power produced from the fuel cell system

· The first time all three tiers of the KORE fuel cell system operated in parallel with each other to successfully dispatch power into the German power grid

· In excess of 1.3MW of power generated and sold into the grid under the Power Purchase Agreement agreed with Statdewerke Stade

· In excess of 10kW of power generated from multiple fuel cell stacks operating within the KORE against a design rating of 10kW per stack

· From a single tier of the KORE system (8 x fuel cell stacks), 83.3kW of power was generated (against a nameplate of 80kW for a single tier)

· From two tiers of the KORE system operating in parallel (16 x fuel cell stacks), a cumulative 158.4kW of power generated (against a nameplate of 160kW for two tiers)

· KORE system automation was fully demonstrated for the first time through the application of AFC proprietary software against previous manual trials

Importantly, the trial of the KORE fuel cell system in Germany last week follows an extensive work programme on the individual 101 fuel cell stack in December and January during which time significant design parameters were adjusted. These improvements resulted at one point in the 101 fuel cell stack achieving a gross power generation output of 11.7kW (against a 10kW design capacity) and a 9 fuel cell stack achieving an equivalent 14kW output (grossed up to 101 cell equivalent). The decision to delay commissioning activities in December was designed to provide sufficient time to implement a number of these changes to design parameters into the KORE module in Stade.

One of the key successes from trialling AFC's proprietary KORE fuel cell system this week is the vast quantity of operational data that has been acquired. This enables the team to fully assess and identify learnings to further enhance the fuel cell stack and fuel cell system, which at present is the largest alkaline fuel cell system operating in the world today.

http://www.moneyam.com/action/news/showArticle?id=5203838

Short lived euphoria.

My broker is also very, very slow in returning the unused cash which they took for the share offer.

Hi Harrycat,

Which broker do you use as mine had my cash back into my account on 29th Jan.

Selftrade, who are now Equiniti.