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Thanks I hope you can find some credibility but it was obviously not a resolution. At least you only have 15% left to lose. Upside is unlimited.
July 2018
Increase production to 55MW and hire 100 new employees
January - were at 35MW with zero job openings.
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Last conference call
LIPA will be signed prior to end of the year 10-31-18
10K
LIPA is expected to close in the first half of 2019
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Exxon Barry Project August 2018
Ready to move to phase 2 funding from DOE and project completion EOY 2019
January 2019 disclosure, “we are working on funding for the next phase”
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Outstanding shares 93 m at the end of quarter 3
104m at the end of quarter 4.
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Boatloads of preferred conversions for the next 15 months and a Hercules loan blocker prohibiting conversions in cash.
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Upcoming proxy to increase authorized shares
(20m OS two years ago when I made my first purchase 104m now).
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SEC investigation unlawful ATM trades
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Posco arbitration and discontinued discussion. No access to all of Asia
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Bridgeport will close before end of 2018 and generate 15m/yr in revenue.
Bridgeport will close in early 2019
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Existing 11.2MW generation creates 7.2 m$/yr.
Current generation portfolio is creating 640k$ per MW but new business will generate 1m/MW and we will be profitable at 60MW/yr
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Reverse split imminent- what’s the catalyst to avoid it?
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These guys are playing the common stockholders for fools and some of them are!!
Will likely exit my substantial position next week.
Good luck to the handful of posters in this board that I respect. Wish there was a better venue for discussion.
I’ll be watching for a reentry opportunity but they will need to make some big steps towards credibility.
So, you need a 600% gain to break even?
If the market or the speculators had even a remote belief that that is a realistic possibility in the near term, we would not be sitting at 52 cents.
If we get 600% from here soon, you’ll never hear from me again
Good luck, you’re going to need it!
Best thing to do when a dispute arises is to resolve it via fair and impartial arbitration.
Need to get whatever issues there are behind us so we can get back to business in Korea.
I actually hope it ends up with FCEL having access to Asia and a termination of the exclusive license to Posco.
Of course I do,
We have reported these sales to the SEC, and in response to our report, the SEC has opened an informal investigation of these sales.
http://d18rn0p25nwr6d.cloudfront.net/CIK-0000886128/3931c29b-ab8b-4d6c-a64a-b2929eb267e1.pdf
How do you feel about the SEC investigation HH?
3m$ grant to CLNE to defer costs of diesel to cng conversions at the port.
Clean Energy
Market Acceleration Program (MAP) (HD NZ NG Truck Replacement)
$3,000,000
http://www.aqmd.gov/docs/default-source/news-archive/2019/scaqmd-awards-clean-technology-incentive-funding.pdf
Neither one of which has anything to do with the Coyote Canyon project/option disclosed in today’s PR other than FCEL is obviously going after the renewable H2/power market in Southern California and has the technology to get it done.
Two tri-gen installations are contemplated, thus the 1200-2400 kilo/day disclosure. Identify an off taker for the power and H2 and this will be a done deal!
We did know about this project in the late summer because I posted the OC Board of Supervisors approval earlier this year.
Thanks Max, do you have a source for this info that you care to share?
No doubt that the exclusive license agreement limits the Asia business to posco only. All the sales potential resides with Posco and FCEL is dependent on them to grow the Asia business. That includes Posco exclusivity for japan and China. I almost think it would be beneficial to terminate that agreement and go it alone if Posco doesn’t want to aggressively pursue new business.
From the link provided. Looks like two Tri-gen installations.
FuelCell Energy, Inc.
-Landfill gas upgrading equipment
-Two 2.35 megawatt fuel cells
-Export 4 megawatts to SCE electrical grid
-Produce 2,450 kg/day of hydrogen
Twice the size potentially, of the Toyota project at POLB.
http://cams.ocgov.com/Web_Publisher_Sam/Agenda06_26_2018_files/images/A18-000517.HTM
FuelCell Energy Enters Into Option Agreement For Newport Beach, California Coyote Canyon Landfill Energy Redevelopment Project
https://investor.fce.com/press-releases/press-release-details/2019/FuelCell-Energy-Enters-Into-Option-Agreement-For-Newport-Beach-California-Coyote-Canyon-Landfill-Energy-Redevelopment-Project/default.aspx
Looking a little deeper, pics on the McAbee website may be from the prior CCS project that was abandoned.
Quick check of Google maps shows a lot of activity in the project area, however.
Look around this website. Some may be familiar with what is presented.
McAbee is the general contractor for the Barry project.
http://www.mcabeeconstruction.com/
https://www.netl.doe.gov/sites/default/files/netl-file/H-Ghezel-Ayagh-FCE-Electrochemical-Membrane-System.pdf
Looks like big progress with the China partner.
http://m.chinatrucks.com/news/8439.html
https://www.marketwatch.com/amp/story/guid/EE50C47E-E6AB-4070-B328-EA4752F1C3C7
Thanks Max, it’s easy to get excited when you start studying the patent and patent application portfolio. They really are in to some cutting edge technologies.
Odd, they had roughly dozen jobs posted prior to the new year.
There are currently no job openings. Please check back later.
https://careers-fuelcellenergy.icims.com/jobs/intro
Been meaning to send you these links for awhile. They are hard to find now, and there is a presentation that had more detail but can’t find it at all anymore.
https://www.netl.doe.gov/sites/default/files/netl-file/H-Ghezel-Ayagh-FCE-Electrochemical-Membrane-System.pdf
https://www.netl.doe.gov/events/conference-proceedings/2018capture
Why Jigar Shah is Now Putting Money Behind Fuel Cells & Other Clean Resources
https://microgridknowledge.com/jigar-shah-fuel-cells-financing/
I call bull shit!!
Real analysts have been wrong so far, just like you!
I hope “establishing credibility” is one of your resolutions.
Probably a rumor, but I’m hearing that we get an 8k this week, and the company intends to use the PPA proceeds to pay down preferred share installments in cash.
FERC clears Dominion Energy's sale of 15-MW fuel cell facility
https://www.spglobal.com/marketintelligence/en/news-insights/trending/mmjvnybbi-hjkytqu2qaaa2
https://elibrary.ferc.gov/idmws/common/downloadOpen.asp?downloadfile=20181220%2D3112%2833304882%29%2Epdf&folder=6476000&fileid=15125558&trial=1
CT PURA has approved the Derby and Hartford project PPA’s. COD 11-23
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http://www.dpuc.state.ct.us/dockcurr.nsf/8e6fc37a54110e3e852576190052b64d/4a9b83f01a20ee7b85258368005860b9/$FILE/180637-121918.docx
Bottom line - there is only one viable option due to cargo limitations and costs of BEV. Total cost of ownership is less than diesel with current incentives.
I encourage you to take the time to read this study and come to your own conclusion.
I did, and bought the stock as a result.
I believe that hydrogen will be the ultimate winner, but that is a start over scenario including infrastructure and way down the road (not even considered as currently feasible in this study) NG is the only feasible option for the ports and the CAAP. They will not wait for H2 to develop and fleet operators will not take the risks associated with BEV IMO.
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“Figure 13 summarizes the results of the cost of ownership analysis. The costs are reported in current 2018 dollars on a net present value (NPV) basis using a 7% real discount rate.110 As shown, the cost of ownership for a new diesel truck with an average annual activity of 68,383 miles over a 12-year service life is approximately $598,000. Near-zero natural gas truck costs are estimated to be $625,000,within 5% of the total cost of ownership of a new diesel truck, and could be considered cost-competitive with new diesel trucks at the fuel price spreads assumed in this analysis. Battery-electric truck cost of ownership depends on the location where the truck charges, as this determines the utility rate. Within SCE territory, the current battery-electric truck is estimated to cost $799,000 over 12 years, about $201,000 more expensive than new diesel trucks. A BATS-compliant battery-electric truck is estimated to have a cost of ownership of $1.06 million, $463,000 greater than that of a new diesel truck due to the high capital cost of the larger battery. Within LADWP territory, the current battery-electric truck is approximately $620,000 more expensive and a BATS-compliant truck is $583,000 more expensive than a new diesel truck.
When incentives are included in the analysis, all three alternative platforms are less expensive than diesel trucks over the 12-year analysis period. Natural gas trucks receive a $45,000 initial purchase incentive through HVIP and associated finance cost reductions for the balance of the truck purchase price. These trucks would also generate an estimated $124,000 in LCFS credit revenue. However, because these trucks are assumed to refuel at commercial fueling facilities, the value of the LCFS credit is assumed to be accounted for in the pump price and consumed by the fuel provider to source RNG. Electric trucks receive a $165,000 purchase incentive through HVIP and generate $373,000 in LCFS credits over 12 years. The combined effect of these two very large incentives is to make the total cost of the battery-electric trucks substantially less than baseline diesel trucks.”
Fact based feasibility study. Lots of information here.
http://www.cleanairactionplan.org/documents/draft-drayage-truck-feasibility-assesment.pdf/?mc_cid=e7b37e30d9&mc_eid=7e4f432243
I would have probably waited for 99 cents if it were me.
So are you! It’s the new black! Logic is history!
Project Portal opens the door to the hydrogen economy
And more recently, our project was awarded $82 million ($41 millions from Toyota and $41 millions from the California Air Resources Board) to build ten more trucks and two additional heavy-duty stations, one in Long Beach and one in Ontario, California. We still have a lot to learn, but we are definitely on the upswing of developing hydrogen infrastructure.
https://medium.com/@cH2ange/project-portal-opens-the-door-to-the-hydrogen-economy-fd99e6fd3cb2
PLUG is getting the same treatment because they’re in bed with the same crooks.
C’mon man!
You are totally lost to the reality here. The company is covering the short positions of the holders of the preferred convertibles twice per month by issuing them shares at a 12.5% discount to whatever the share price is at the time.
They incessantly drive down the share price and the company covers their position.
Until such time as they pay out those bimonthly stipends in cash, the holders can’t lose no matter which direction the share price is headed.
The common holder is being sacrificed for 30m and diluted to oblivion.
Please give up on the analysis attempts.
If you need something more recent, this is from the November business meeting of the CEC.
https://www.energy.ca.gov/business_meetings/2018_packets/2018-11-07/Item_18_ARV-18-002.pdf
Register for this and watch it!! I advise that you watch the entire presentation but for sure watch Dr. Suraup’s presentation starting at the 41 minute mark!!
https://event.webcasts.com/starthere.jsp?ei=1182016
Would like to hear everyone’s thoughts including the negatives.
The presentation is already a few months old so we’re down the road by now already. Only thing I don’t find attractive is the timeline but if one owns “the holy grail” it is worth the wait. Right?
You have company in your assessment.
#DYK #PowerGeneration will account for ½ of global energy demand growth by 2040. We partnered with @FuelCell_Energy to explore how to meet this demand & reduce #GHG https://t.co/O501jOGDBA pic.twitter.com/LAIRYYpUHP
— ExxonMobil EU (@ExxonMobil_EU) December 12, 2018
Back to the technology, which is primarily why I’m still here.
Evaluation of Dynamic Reversible Chemical Energy Storage with High
Temperature Electrolysis
MCEC Reformer-Electrolyzer-Purifer
A spatially and temporally resolved thermodynamic MCEC model was developed in order to
predict the behavior of an MCEC-REP cell for the purposes of simultaneously
reforming methane and electrolyzing water to produce
a high purity stream of hydrogen by pumping CO2 from the fuel channel to the oxygen channel.
The stack model is capable of predicting the temperature distribution of the cell as shown
by a comparison with experimental temperature data.
Furthermore, spatial resolution of current density and species concentrations were presented which
illustrate the balance between electrolysis and reformation within the MCEC-REP cell. The model
was verified against FCE experimental data and showed that at 1.2 V and 130 mA/cm 2, the cell is
capable of producing at least 96% pure hydrogen on a dry-basis compared to 98% pure hydrogen
measured from the experiment. The short stack experiment was capable of producing 100
kilograms of hydrogen a day whereas a 1.4 MW commercial scale system may produce up to 2300
kilograms of hydrogen per day at high purity.
Grid-Scale Hydrogen Energy Storage
Existing natural gas storage facilities may be converted to hydrogen storage facilities that can
be used to store otherwise curtailed renewable energy through hydrogen electrolysis by RSOFC
systems which can also dispatch the hydrogen back to the grid as power. The renewable power
was scaled up to match the energy demand of the California grid and any excess power generated
by the renewables was converted to hydrogen and stored in the HES system. When there was
excess demand, hydrogen was discharged from the HES and converted to power to supply to the
grid. A scaling factor of 14.95 was selected for the simulation which resulted in a total of 119.5
GW of combined solar and wind (the bulk made up of solar). Near the end of summer, such a
scenario would result in the HES reaching its maximum capacity according to 2016 data from
CAISO if the HES started at full capacity on January 1, 2016. If the HES started at half capacity,
it would be depleted in the early part of the year, but would otherwise be able to service the
California grid for the entire year and end at a similar level.
https://escholarship.org/uc/item/02f1f4fn#main