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In that article (Yahoo):
“The federal government says it is easing the risks of nuclear construction, but the $11 billion in cost overruns at Plant Vogtle near Augusta remain sobering for other utilities. Chris Womack is the CEO of Southern Co., the Atlanta-based parent company of Georgia Power. He said he supports Granholm’s call for more nuclear power generation, but he added that his company won’t build more soon.”
Maybe awhile before her “good intentions” occur.
Perhaps the “mini-reactors” Gates has been investing in (Wyoming?). Particularly as the additional cost of wiring the grid will be prohibitive.
A collaboration of mini-reactors and hydrogen production might ease the grid connection difficulties.
You are correct - my math was “fuzzy” on the magnitude of the officer’s bonus shares.
yes, pre R/S the officers shares are reduced as all A/S are.
However, with a proposed 1B A/S after a R/S the officers receive 130M shares out of the new A/S pool which has been “reduced” to “only” 1B. The share value initially will have increased by 10 - 30 times (not forty as I think I stated previously).
What?
If there is a R/S then they will also authorize a decrease in A/S to 1B from 1.6B.
BUT:
They are doing that decrease in A/S AFTER the R/S.
So, a decrease in everyone’s shares by 10/1 to 30/1 as well as total A/S.
Then there will be an increase in the A/S back to the “reduced” A/S of 1B.
Share holders percentage of Nikola is reduced greatly.
Then add in the 100+M shares out of the “reduced” new 1B shares for the Nikola officers.
At this point Nikola sells what’s left of the “reduced” new shares which further dilutes share holders portion of Nikola.
Because they will need cash for a bit longer.
So no, all things being equal, a R/S does not dilute, per se. Subsequently selling “new” shares does and it further magnifies the existing shareholders losses.
Of course management covered themselves when they added authorizing the 100M+ shares for themselves, after any new A/S.
Of course this might not occur.
Actually, these contracts pay the engineer’s salaries and keeps them on the payroll. Later, when more funds (if, of course…) come in they will be available for Plug expansion.
So, Plug has the design engineer’s payroll covered.
It is also growing a library of design and engineering plans for future use.
Hence, keeping their pool of trained and experienced engineers while cutting costs and growing their IP.
Hmmm, fuzzy math. Please note the timing of the steps Nikola proposes.
Also, I stated Nikola proposes a 1 billion A/S: but that would be after a proposed reverse split.
So:
The Nikola float is currently 1.24B. (Out of 1.6B current)
A 10/1 RS brings the float to 124M.
Now Nikola proposes increasing the A/S to 1B (while saying they are “reducing” it). This occurs after the R/S - again after.
Then, after the R/S and the purportedly “reduced” 1B A/S, subtract 100M+ shares for Nikola officer compensation.
The dilution begins as the “new” A/S (in addition to the 124M plus 100+M) are sold to fund Nikola’s business as they will need to for until the hydrogen market grows and it reaches necessary production volumes.
A 40/1 R/S effectively ultimately would increase Nikola officer’s share value x4.
You are correct (I did not sleep at a Holiday Inn last night).
But after the R/S, Nikola also proposes offering an enormous number of new shares which, I believe, is where the dilution happens. Note they phrase the new shares as a “decrease” from 1.6 billion to “just” 1 billion.
Since our share count will have been considerably reduced, the proposed addition of up to a billion new shares dilutes our portion of the company (and T Milton’s) a lot.
Of course, correct me at any time.
Perhaps this possible reverse split was to block Trevor Milton from legally attacking Nikola. His shares have now been devalued and he has the risk of having them further massively devalued if a R/S were to occur were he and his group to start legal proceedings.
Notice the timing of his legal attack, the proposal of R/S and his immediate withdrawal of his legal attack.
Any news? The USPS connection is “interesting”.
AJR TRUCKING ANNOUNCES ORDER FOR 50 NIKOLA TRE FCEVS
May 2, 2023
Blog, news
COMPTON, CA – May 1, 2023 — AJR Trucking, a leading carrier for the United States Postal Service (“USPS”) and a major drayage carrier operating in the Ports of Los Angeles and Long Beach, announced the execution of a purchase order for 50 Nikola Tre hydrogen fuel cell electric vehicle (“FCEV”) trucks from Tom’s Truck Centers, a member of the Nikola Corporation (Nasdaq: NKLA) sales and service dealer network. Deliveries are expected to take place between Q4 2023 and Q1 2024.
Again, thanks for posting the info. Appreciated.
These are interesting times.
My mistake - both use gas form but Nikola has better milage.
So, I am wondering (due to “coupons” issued) why they all went to Nikola, unless The other is still in test mode?
Obviously, keeping track of your information - much appreciated.
Look at their Hyd type - gas
Look at their mileage.
Yes, thanks.
Like the 2 week Fedex test of Hyvia vans a month ago, still waiting for a decision.
Make no mistake, your entry is appreciated.
Aren’t the Xcient trucks still being demo’d?
Good find.
Perhaps then consider that as the technology advances for fuel cells for commercial trucks the door opens for private cars. Both by decreased cost/increased efficiency of the fuel cells and the sites/availability of hydrogen stations.
This process will accelerate and grow rapidly. Using the growth of the ICE cars and gasoline service stations as model.
You probably already had this in mind. Just thinking out loud.
From: GiantEggHead (Stocktwits):
(Worth considering although may be modified/updated)
“NKLA
Here is the old PR. This might be coming back to life now that plug power is getting their DOE loan approved.”
Nikola and Plug Announce Strategic Collaboration to Push Hydrogen Economy Forward
Published December 15, 2022
Plug to purchase up to 75 Nikola Tre hydrogen fuel cell electric vehicles for green hydrogen delivery
Nikola to purchase 30 metric-tons per day liquefaction system from Plug for the Ariz. hydrogen hub project
Companies have signed an innovative Green Hydrogen Supply Agreement with synergies for both Nikola and Plug’s business models
PHOENIX — December 15, 2022
https://nikolamotor.com/press_releases/nikola-and-plug-announce-strategic-collaboration-to-push-hydrogen-economy-forward-216/
Agree.
And your previous comments regarding bluechip companies (Mercedes, etc.) vs instigators, like Plug Power must be considered, too.
You have now probably just begun to define the “roll out” of these systems.
Thanks for your perspective.
That’s part of what I am thinking.
Agree with all that you have stated.
The timing of the two week test period ends tomorrow.
Decision/announcement of decision in how many days following?
Then - Plug Power earnings report when?
FedEx - UPS - Postal services
If one, I’m guessing the others will follow.
If not, Plugs earnings may be less than rewarding.
Yes, FedEx tested in 2018. And yes, JB you are correct hydrogen fuel cells were too expensive.
So why now? And why only two weeks?
A courtesy? Perhaps political?
Or has the situation changed? Again politics and/or technology?
Politically, I am thinking of the fight between cars and public transportation in the Los Angeles area years ago.
Public transportation was less expensive and environmentally better but the insiders (Ford?) could make more money if cars were the choice.
In the end, cars won, the general public paid and car manufacturers profited.
Here we go again.
Perhaps “efficiency” is related to who profits most “efficiently”. Last time it was not the general public.
WTM - it states a test period of only two weeks.
Not very long, at all.
What criteria is FEDEX testing? Either very specific issues or will they then announce that “those” issues justify further testing?
And two weeks puts the first decision just before Plug’s earnings date.
“Enquiring minds want to know”……
Yes, a foot in the door. Good to follow.
Well, you posted it.
However, I have appreciated your comments as it is helpful to hear contrasting views.
And I agree, Shell will certainly wait before re-entering the hydrogen passenger car sector. Shell does note that they remain in the hydrogen trucking sector at this time.
And ( both from srm4u):
Iwantani also claims that the H2Station control systems and software had not been completed by the time its refueling points were installed, alleging that Nel was still writing the code while employees in its Denmark office ran equipment remotely without Iwatani’s knowledge. “This shifted the cost of field testing the H2Stations to [Iwatani] and allowed [Nel] to take them into the market before they were properly tested or ready for actual commercial use by customers, and long before the software underlying the Control Systems and Software was actually created,” the lawsuit continues.
The Japanese company also argues that the Norwegian firm had misrepresented its track record, claiming that the equipment sold to other companies “was actually defective, had disastrous performance records, and was plagued by constant breakdowns and failures that caused the customers to incur millions of dollars in lost profits and other damages.” We here at CleanTechnica are not experts on business transactions, but a casual reading of the complaints against Nel seem to indicate a shocking lack of due diligence on the part of the Japanese firm.
Fuel Cell Car Owners Suffer
Perhaps you missed the real reason:
Shell closed three of its five hydrogen stations last fall, calling the closures “temporary” but declining to say when they might reopen. Hydrogen refueling stations tend to suffer from serious reliability issues due to the nature of liquid hydrogen, which is notoriously difficult to handle. Iwatani, a Japanese gas company that is one of the two largest names in American hydrogen filling stations, is currently suing Nel, the Norwegian company that provided the core technology for its stations, claiming it was bamboozled by that company.
Credit to Stocktwits Mindfulinvestor2k
DHL Group deploying hydrogen trucks in Germany
02/08/2024, 10:00 AM CET
The Paul Hydrogen Power-Truck, a vehicle based on the Mercedes-Benz Atego, will be used during the one-year pilot for distribution and line hauls at the Cologne location.
The two 15.6-ton trucks, with a range of approximately 400km with a trailer and 600km without a trailer, were manufactured by Paul Nutzfahrzeuge on behalf of Shell in Vilshofen, Southern Germany. The basis for the first series-produced medium-duty fuel cell truck in Germany is provided by a Mercedes-Benz Atego. The vehicles are operated by DHL Freight and Post & Parcel Germany through the innovative Shell Hydrogen Pay-Per-Use platform model. In addition to the vehicle and hydrogen refueling infrastructure, Shell's offering also covers all necessary services and support during the period of use. The trucks are exclusively serviced at the workshop of the Commercial Vehicle Center of Daimler Truck AG in Frechen. With hydrogen trucks, only water vapor comes out of the exhaust. If the hydrogen used is produced with green electricity, the reduction in greenhouse gas emissions can be up to 100%.
DHL testing a converted Mercedes truck running hydrogen in conjunction with Shell.
https://media.licdn.com/dms/image/D4E10AQHNQq-jDS9wjg/image-shrink_800/0/1707378037376?e=2147483647&v=beta&t=idvJVNjwaAIxNu8O2vL88jlHAehTPrZYxq7gF9WDKF8
Great incentive to get those electrolyzers on line.
Especially since demand already exceeds supply.
Yes, very encouraging that Shell is staying in the hydrogen field with industrial - truck hydrogen supply.
They can find a better distributor of their hydrogen for the retail (cars) market as the industrial market evolves.
Hydrogen seems to continue to gain momentum.
Maybe Musk will come around……
You have identified the chicken-egg issue very well - thanks!
Perhaps add:
Amazon - their own fuel cell vehicles and their own Hydrogen service sites
Walmart - as above
Home Depot - as above
And in one form or other:
BMW - as above
Mercedes - as above
Stellantis - as above
The blank regions are starting to fill in.
Nice catch - Air Liquide and Energy! And Nikola..z
Well the Elon Musk thing was an old April Fool’s joke put out on You tube.
But yes, if the liquid hydrogen is made available for trucks there is then infrastructure already in place for cars. Much less expensive and financially risking to expand services.
So BMW is going to gave fuel cell cars 2025?
Hyundai now.
Toyota now.
Not small players.
Unfortunately, posted 04/01/2023…
Have a great weekend, all.
Energynews.biz
For reference
And:
Elon Musk shocked followers on Twitter early this morning with his announcement that, after many years of skepticism, he will be switching #Tesla from #batteries to #hydrogenpower in 2024. He also mentioned the first #vehicle to arrive using the #fuelcell will fittingly be called the #ModelH .
Here we go:
Elon Musk has expressed his interest in the hydrogen automobile industry and confirmed the impending Tesla hydrogen vehicle, which will obliterate all competitors the way Elon Musk likes to do it. Until recently, Tesla has been an EV-exclusive brand.
Elon Musk, who has previously expressed his dislike for hydrogen fuel cell vehicles, suddenly changed his tune and even slightly walked back some of his previous comments by announcing that Tesla had ambitions in the FCEV market.
Probably, the development of the “heavy” truck hydrogen stations will pave the way for fuel cell cars.
Doesn’t Nikola alone plan for 60 stations? Nine stations by the middle of this year.
Seems (clearly I am no expert in hydrogen…) like a small step to expand an existing (and in the very near future) from a truck stop to a truck and car fuel cell stop.
More detail re: NEL
"Iwatani's American subsidiary alleges in court documents seen by Hydrogen Insight that Nel had never actually tested its H2Stations in “real-world commercial conditions” prior to selling seven of them for the Californian market, structuring its contracts so that only the Norwegian firm would have visibility over any problems with the equipment."
“This scheme was designed to allow [Nel] to hide defects in the equipment, control information customers received regarding problems that were encountered, and use customers’ equipment for field testing and R&D without their knowledge and at their expense,” Iwatani alleges.
"Iwantani also claims that the H2Station control systems and software had not been completed by the time its refuelling points were installed, alleging that Nel was still writing the code while employees in its Denmark office ran equipment remotely without Iwatani’s knowledge."
https://www.hydrogeninsight.com/transport/fraud-false-promises-concealment-iwatani-files-lawsuit-against-nel-over-faulty-hydrogen-refuelling-stations/2-1-1595967
This may be the reason:
"While Shell has not given any further reasons for its decision to close down its California sites, the oil major had also used filling station equipment supplied by Norway’s Nel — currently at the centre of a lawsuit by industrial gas company Iwatani, which alleges major defects in its H2Station range."
Also, the pumps were first generation and for cars (light-duty).
Shell still involved in "heavy-duty" hydrogen stations (trucking).
https://www.hydrogeninsight.com/transport/shell-permanently-closes-all-of-its-hydrogen-refuelling-stations-for-cars-in-california/2-1-1596104
Great points.
You probably also already noticed the Nikola expansion in Canada with ITD announced today.
Gotcha -thanks!