http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

On the up Greekman.

Yes looking better than it has for some time.

So certain politician in the UK and the USA want sanction and asset seizures on Russian oligarchies such as Roman Abramovich.

Some are arguing for and against, personally I think that we should leave political decisions to the politicians as they know what they are doing, (you can not be serious I hear you all shout), no of course I am not.

But what completely puzzles me is what do the EU governments and the USA expect to achieve.

All that will happen is reciprocal action (I wanted to say t for tat, but iii would not accept), as there is a large amount of western investment in Russia, and what will happen if Russia did back down (which they won't) all that would happen is a civil war that put Crimea against the rest of the Ukraine, with a few from each area fighting on the other side.
Plus of course the effect it will have on future investment by foreigner in the UK, they wll be weighing up the risks even now.

If a part of a country is set on breaking away from its mother land, especially by the ballot box, then if they are forced into remaining tied to said land, all that follows is years of unrest.

Even accepting many citizens did not vote due to intimidation, well over 50% of Crimea has Russia for a first language and feel Russian so lets hope the UK and others keep their noses out and let them sort it out themselves.

Apologies re going on, but the stupidity of those in charge of our daily lives and our future, sometimes beggars belief.

First fuel cell order from PowerHouse Energy

AFC Energy plc (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has received the first order for its Beta+ fuel cell test system from AIM-listed PowerHouse Energy Group plc ("PowerHouse" or "PHE"), which is expected to be delivered in late 2014.

AFC's fuel cell system will be utilised together with PHE's ultra-high temperature gasification technology, which converts organic matter into a stream of syngas from which all potential toxins or pollutants are completely degraded and rendered safe. Hydrogen extracted from the produced syngas will be passed through AFC's fuel cell test system to generate clean energy.

AFC Energy will receive £150,000 from PHE for the supply of its Beta+ fuel cell test system consisting of two fuel cell cartridges. The cartridge within an AFC system holds the fuel cell stack and allows quick connection to the hydrogen and other utilities for ease of use. AFC will deliver, connect and commission the fuel cell system while PHE will prepare the site and provide the required utilities, including hydrogen, based on AFC's agreed specification. Further cartridges, additional maintenance or potential increases in capacity can be provided for an additional fee.

The transaction was negotiated by Waste2Tricity under the licensing agreement signed in February 2009, and the installation will be the first involving integration of AFC's fuel cell systems with hydrogen derived from the gasification of waste. The deposit of £50,000 will be paid in the form of PHE shares with the balance becoming payable after delivery. The system will form a key test bed for larger industrial applications in the waste-to-energy sector as the benefits of AFC's fuel cells and the significant increase in efficiencies become clear.

Am I the only one getting more and more nervous?

I have no idea of the full mixture of reasons why the sp is and has been on a downward trend since last mid July (48p).

There are many reasons why share prices drop, but with the sp now way below its highs of 75p late 2010 (admit it was way over priced at 75p) confidence in general can only be going one way.

AFC have to prove they can put their product where their mouth is soon, as I can't and won't watch the sp sink much lower.

I am still a great believer in AFC, but belief won't put money in the bank and no matter what anyone says, at the end of the day the sp is all that matters.

I have been caught before by letting heart rule head and can't afford to allow that to happen again.

i'ld rather be holding TSLA (us stock), despite its very heady price and p/e

This share is akin to IQE in as much as the sp does not do as you might expect it to!

John Lewis and similar small volume potential customers.

I have been wondering why AFC had not updated us on interest shown by John Lewis which had been first mentioned a couple of years ago in a RNS and has not been mentioned since.

This is a reply to an e-mail sent to AFC, as usual with AFC they do reply promptly as best they can to investor questions.

'We have had a number of discussions with JLP in my time at AFC. The opportunity to provide power to these solutions is dictated more by the availability and cost of the hydrogen molecule than it is by the fuel cell. Costs for small sized steam methane reformers (SMR) have not declined in line with those of the available fuel cells and this is delaying the introduction of distributed energy systems to such markets as was contemplated by JLP.

AFC is looking for low cost options for such SMRs and we have a number of discussions underway with potential suppliers, however, to date we have not found units which we can place in this market and make commercial sense. In addition, the pull through for our technology from the delivery of systems into this market will be very minor, so it seems sensible to focus our limited resources on markets which can help deliver significant volume and therefore allow us to move down our cost curve. Having said all that, we remain in periodic contact with JLP and will discuss options with them should the situation change'.

Having explained the position, the update makes perfect sense as to why there has been no contracts with John Lewis and other potential small volume customers.

Greek

Thanks for the update Greekman - another bottom drawer jobbie!

Hi Skinny,

Yes, it looks like it.
AFC are still my main holding and I have very high hopes for them in the next 12 to 18 months although as said can't afford to hold forever if the sp continues its downward trend.

At 0930 hrs today I put a few more into my ISA via 'bed and ISA', the buy going in at 24.4p when the mid price was 24.75p .
The buy shows up as a sell, I wonder how many of the buy trades today and over last few days at well below mid price have shown as sells

I appreciate that buys are often shown as sells and vice versa when the trade is near to the mid price, but strange that a deal well below the mid price shows wrongly .

So 30 deals today and all recorded as sells, if anyone believes that then they should completely avoid share dealing.

Strange yet again, after all those sell trades yesterday the sp opens at .25p up and stays there after 8 sell trades today. Someone has suggested that a buyer is building a stake and I agree that the signs are there (now watch the sp fall to prove me wrong).

As a Yorkshireman our saying of 'the is now't so queer as folk' springs to mind, perhaps 'there is now't so queer as the AIM' is more apt here.

Good job I don't work for the BBC as I would be out on my ear after using language like that.

Yes - 'Yorkshireman' is a bit strong!

Lol

Skinny,

This is Not A Ramp,

Overheard by my friend's uncle's cousin's wife's sister, twice removed that, Roman Abramovich being disappointed that Chelsea FC failed to win the Premier League Trophy is selling the club and intends to buy AFC lock stock and fuel cells.

You too eh!

Petition to stop short selling.

Well worth a read.

http://epetitions.direct.gov.uk/petitions/62851

Directorate Change

AFC Energy, the industrial fuel cell power company, announces that Jane Dumeresque, Finance Director and Company Secretary, is leaving the Company by mutual agreement to focus on her other business interests. Jane will continue to support the Company during its search for a replacement.

Tim Yeo, Chairman of AFC Energy, said: "I would like to thank Jane for her contribution to AFC Energy's progress and wish her well for the future."

Jane Dumeresque said: "I have enjoyed my time at AFC Energy. The Company continues to make great strides and I wish them every success."

Nice bit of publicity posted on another site by Sieboldi,

http://www.theengineer.co.uk/channels/production-engineering/in-depth/stacking-up-making-hydrogen-fuel-cell-manufacturing-viable/1018749.article