H2Go Power [CC] views?

Anyone looking at H2Go H2GO Power Ltd. is raising £400,000 investment on Crowdcube. Capital At Risk. ?

I saw them in the news last year but have not done any real research. Their key IP ostensibly is low pressure hydrogen storage for drone fuel cells, which I like. However, their deck talks a lot about “AI” for managing grid level energy storage, which my broader portfolio absolutely does not need. News reports on their Orkney project also appears to confirm they are supplying AI only.

So far they are not answering questions. I have not attempted to find their two patents.

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Currently overfunding on Crowdcube: 581%!

They’ve mentioned hydrogen and AI - that’s not going to get me a line on my Crowdfunding Bingo card :frowning:

I need them to mention blockchain and the cloud too!

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SaaS and “On a mission” for bonus points.

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Edit: 610% now! Note they just announced they’ll close at £2.5m.

Presumably all the selling points of H2Go are clear. So here are a few concerns:

  • Lack of competitor analysis. From their deck you’d be forgiven they are the only solid state hydrogen storage show in town. That is not the case. Research on storage e.g. in metal hydrides goes back a long way and from Google I can see companies selling powder (still metal) and ammonia solutions too.
  • Consequent to the lack of competitor analysis, their target market and plans for making money seem unclear to me. They themselves seem undecided on whether they are targeting drones, grid storage or AI for managing hydrogen resources.
  • On the grid storage front, from skimming their patent and all their replies, I suspect they have not got a concrete way to scale the tech yet. A little 3D-printed reactor for a drone seems an excellent product that I could imagine using myself. A massive stack of 3D-printed reactors doesn’t sound like a grid scale solution. Maybe I am simply missing the point- but then I wish they’d communicate the tech better.
  • The HyAI blurb sounds like nothing special- something I could hire a recent grad (maybe MSc) to build for me.
  • Their numbers on the efficiency of compressed hydrogen storage and liquefaction are pessimistic compared to published research. E.g. their deck says “<90%” for compression yet the RWE/ITM trial claimed 93%.
  • Their numbers on batteries costs are pessimistic too. In the forums they clarified this included replacing the batteries every 10 years (3x), whereas their solution lasts 30 years. I just bought 10kwh of LiFePO4 batteries for around 10% of the cost quoted in their deck.
  • Selective answering of questions. Admittedly, some of the questions are a waste of time and as a busy founder trying to run a business I would resent answering too. However, it is part of the ECF game.

Happy to be corrected on any point!

As a side note, I wish CrowdCube discussions had:

  • Upvote facility
  • Duplicate detection
  • “Similar questions” suggestions
  • Flag for unanswered questions
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That’s all I need not to invest.

They did eventually engage more (but still unsatisfactory).

I will try to join the “meet the founders” thing at 1pm but not expecting to learn much in 20 mins.

quote=“Deenoreal, post:711, topic:12984”]
Don’t believe the hype - beware of buzz words AI, Machine learning, crypto, AR, CBD, etc. If I am going to invest in such companies the team should be expert in their fields. I once saw a CBD pitch on CC valued at £20m, so I was thinking maybe they have developed some proprietary techniques but they were not even scientists but marketing guys. I stay away from such companies. There are currently a few crypto pitches with very high valuation and their justification usually is that a similar company was valued at £XXm.
[/quote]

Interesting

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Seems it’s now funded and closed

Yeah I agree with that. It’s frustrating. I see it in the corporate world too- sales people come in, mention AI and/or blockchain= senior leaders cream their trousers.

Conveniently funding has closed before the Q&A session (which was only 20 mins anyway). It’s a good investor screening tactic I must say.

I do want a “future energy” portfolio and am excited by StorTech companies like H2Go and RheEnergise. Yet, after a little DD, both leave me thinking BP looks cheap!!

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Why would you do that?? It seems strange to me

I guess that’s a rhetorical question :slight_smile: … but for the avoidance of doubt, it looks like they want to avoid tough questions- people like me who want to give them a grilling on the tech, competitors and target market are less likely to bother joining!

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I’ve invested in 4 power generating companies Gravitricity,Marine Power Systems,Hydro Wind Energy and a tech/power company called Power transition. I would liked to have invested in this company but you need £10,000 too much for me Cylindrical wind turbines which are strapped to motorway lamp posts could be powered by TRAFFIC

They just said cloud and state-of-the-art

That’s BINGO for me!

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:rofl: Well played, you’re a winner!

Pitch closed with 610% overfunding!

haha… well, they had their revenge by rejecting my little investment.

I twice reduced my investment amount based on their unsatisfactory answers and they probably figured I’m more trouble than my investment is worth lol

I find them a weird company. Some people are technically brilliant in research and product development etc but utterly hopeless at running a business. With H2Go I can’t even evaluate if they are technically brilliant :confused: So I’m not crying over the cancelled investment but just found it strange.

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I can’t believe it overfunded by so much but sometimes I think they set a low figure deliberately - artificial scarcity and all that, get people giddy…

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