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Monday, January 30, 2023 7:55:41 AM
They are following crossing the chasm strategy pretty well.
GenKey is clearly profitable(gross margin wise) form the accounts. (not if you include genFuel (like Amazon and Walmart) and the market is growing as they can address smaller warehouses now with in house 1MW hydrogen generation and storage solutions.
All the partnerships you list are for mobile - typically last mile or short haul - solutions.
As I stated they were likely successful from technology and the Progen engine solution seems to have been well liked, but the economics of both upfront cost and hydrogen meant they were ahea dof their time thats all.
was it money waster? we will see. it led to Andy deciding he had to make the hydrogen himself and to look for partnerships in the actual manufacture of vans/buses etc with large volumes. but he had a proven solution to sell.
BTW no one would be expecting any relationship with Microsoft to have ROI yet, if we got anything from them that is a good thing. We did get a proven solution we are rolling out already into the EV and other stationary markets. At least we are at the table with Microsoft with a roadmap to commercialize a suitably sized solution, with at least 2 other companies competing for slices of the large opportunity.
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