"...The first applications by customers have been lodged with the department and it is expected that the first determinations will be made by mid February."
Lets hope that those efficient Germans hit that timeline as it would be nice to get feedback on this ASAP so we can understand whether units will start to move out the door in modest number under the scheme in 2013.
What we have little transpareny of is how the North-Rhine Westphalia Government funding program of up to EUR 250 million is progressing with its spend. Is it going gang busters with any products out there? Are CFU amongst the first cabs of the rank?
For the UK they keep talkign abou the only fuel cell to be MCS accredited but there are other mCHPs out there that are not fuel cell based whioch are MCS accredited. Last I read about 3 months ago they were not selling like hot cakes, but perhaps the Baxi units are selling better now with the improved FiTs. Something I will need to do some research on over the next few nights
In other news E.on timeline continues to slip and slip. The pace to which we fill orders seems a concern but finally it has been addressed with this statement..
"...Total cumulative orders received to the end of December were 661 units...Of this total, orders for 329 units have been fulfilled and the remaining open order book of 332 units is expected to be supplied across 2013 – in accordance with customer’s requested delivery timing."
If they are meeting customers milestones then that is the main thing and my concern over capacity and scale up is falwed. They spend what they need to on production to meet the deliveries whilst minimising cash burn.
And for me the two elephants in the room.
It looks like CR around end of Mar-Apr. The main thing is that this is a long distance race and there are several other runners in the game. TYhe main thing for me is that we are not being left behind and playing catch up to them. As long as the finish line is there, albeit moving and we head the field I am happy to hold and wait until circa 2016-2017 for annual sales in the 3,000-5,0000
So come April and next round of CR what do we see the SP doing? 2-3c? Eeek.
And the other MAJOR concern for me is there was absolutely no mention of Sanevo...I really needed to see progress being made with filling their original July 2011 order and an update on their expected follow on order.
All other things being said, if they cant bag a follow on order from Sanevo; whcih will be their first meaningful fdollow on order then I will looking at getting out and coming back in 2015. (if they are still around)
CFU Price at posting:
5.6¢ Sentiment: None Disclosure: Held
