Ann: GEV Corporate Presentation February 2021, page-2

come in spinner? I am in

Watching Hydrogen and a Canadian hydrogen fuel cell manufacture attracted my attention to GEV.

The "MOU with Ballard Power to develop fuel cell for C-H2 ship" announcement has had me looking at the executive and information on this as a mid to long term money burner which just might kick a goal.

The where to from here is the point of my post. not to hype- Not my style I hope!

It seem to cost about 150 million at least to build a LNG ship Link to this suggestion.

GEV is chatting about 5+ ships so my poor math has more than 750 million in finance or capital. Suspect finance myself.

Its goal had been gas shipping. I think the pivot to Hydrogen involving Ballard was again highlighted " Launch of Compressed Hydrogen Ship" (4/10/2020 ) is not a big technical change from the designs it had been working on as GEV say so itself.

Other thoughts

• The pool of government research money available is likely to be a target to help fund on top of any further cap raising required
• The do comment they may try a "smaller demonstration ship" in the 14/10/2020 announcement
• Very low turn over may make this a very high risk play!!

Putting a 'Hold' on it as while I have added this to my speculative bag It is not for short term or high risk adverse people and honestly prefer result over hype. DYOR.