I think CFU has turned a massive corner in the past 6 weeks and has significant momentum!!
Cash has been secured to underwrite the business till late next year (remember we were at 11 cents before this, so 9 cents is still cheap!).
Costs are being cut, production moved to China, furnace now working properly with one final tweak to make. Powder plant costs sorted, with potential sale on the cards.
And all the regulatory ducks are lining up (Germany / UK) for solid growth in the 12months.
But here's the kicker, we presented at the Fuel Cell investing conference in the UK just after the capital raising finished and now there has been some solid & constant accumulation by someone with impeccable timing. This presentation should not be easily dismissed as there were some definite big wigs in the room (or their offsiders), how do I know that, because Mr Abramovich (owner of Chelsea) made a 9mil quid investment in AFC a few days after the conference. Now some will say why not CFU, but Abramovich plays at more the industrial scale of the business world (will sell AFC units to all the conglomerates in Russia as big gas supplies) so that doesn't worry me, but shows Fuel Cells are reaching a point where the investment community takes us seriously and for CFU, the general market is about to start buying them to get all the Gov't subsidies and FIT's.
Oh yeah, Charts look very healthy as well!
Looking forward to 2013!!!
Abramovich boosts fuel cell group http://www.telegraph.co.uk/finance/newsbysector/energy/9603997/Abramovich-boosts-fuel-cell-group-AFC-Energy.html
CFU Price at posting:
8.6¢ Sentiment: LT Buy Disclosure: Held
