Company: Aurora Solar Technologies
Listings : TSX Venture, Frankfurt, USOTCB
Tickers: ACU, AACTF , A82
Market cap at time of publication: $15 MCAD
Stock price at time of publication: $0.105CAD
Number of shares fully diluted: 160,899,725
Business: SaaS Solar producer software and cost savings
Market Size: US$25bn
ESGFIRE comment: The returns have been horrible for our investment in Aurora Solar Technologies since we added the company to the portfolio at the end of september 2021. Our position is down 56 % and we are not happy about the development of the company or the stock price. Aurora has, finally, released an update on the insight trial for the client which all investors have been waiting on. The results so far ? No financial decision by the client due to ” financial constraints” meaning no revenues for Aurora despite the fact that they met their targets for the trial. We can’t help to wonder how long this information has been known by the company and the company now puts their faith into the second trial with a larger manufacturer in China which begins now in March 2022. For us this is the end of the line and we are cutting our losses and investing in other positions. When management fails to deliver on several points such as shareholder information, transparency and above all business execution theres little faith left for us in management. Also the company is burning about 4 MCAD per year. The cash position was 3,9 MCAD by end of september 2021. The cash position in March 2022 should be about 2 MCAD and should last another 6 months. Unless the Chinese client trial is considerably faster than the first trial and gives substantial revenues there will be a financing need for the company in the next 6-9 months.
Press release can be read in full below:
North Vancouver, British Columbia–(Newsfile Corp. – February 7, 2022) – Aurora Solar Technologies Inc. (TSXV: ACU) (“Aurora“, the “Company“) is pleased to provide an update on InsightTM Essentials and strategic initiatives.
Aurora’s initial evaluation of its Insight Essentials product is now complete, with the product validation needs successfully met, particularly the project’s objective of progressing Insight Essentials for market readiness. Due to customer constraints, there has been no financial consideration exchanged at this time. The Company will continue our focus on our larger-scale China-based evaluation as previously reported on November 30 and October 26, 2021. This project is underway and on track. Wafer tracking is about to be installed and the Insight platform and use case evaluation period is expected to start in March of 2022.
In parallel, Aurora is actively pursuing strategic opportunities to scale its measurement products business to complement and enhance the value of the Insight platform. The focus of this initiative is to build the breadth and depth of process control capability for high-value Insight applications to continue the Company’s first-mover advantage and drive to be an industry standard for yield management and process control solutions.
In the recently completed evaluation project, the most significant outcome was validation of the reliability and accuracy of Insight’s platform capability known as “tool tracing”. Tool tracing is the act of regularly collecting and processing solar cell production equipment performance and the information it generates is vital for timely and effective fault remediation and yield management operations such as preferential wafer routing. As such, trusted tool tracing is the platform for all current and future Insight product applications. For benchmarking purposes, Aurora’s analysis found that Insight’s tool tracing can consistently and significantly outperform the current methods being used at the initial production facility. This important result will now be built upon for broader application in our second larger China-based project.
“We are pleased to validate that Insight Essentials can provide a clear advantage in the core function of tool tracing, with superior data reliability, utility and cost-effectiveness. Insight’s platform unlocks value through all aspects of plant operation from material routing to fault detection and correction to maintenance procedures to optimize the quality of manufactured solar cells,” said Gordon Deans, Aurora’s Chief Executive Officer. “Looking forward our commercialization focus is now to capitalize on this positive result in executing the next step in the market introduction of Insight and our strategic initiatives to enhance the value of our product line to set the industry standard for yield management and process control systems.”
About Aurora Solar Technologies:
Aurora Solar Technologies is a leader in the development and delivery of inline process control and yield management solutions for solar cell manufacturers. We believe that solar power will be a dominant element in the renewable energy field, and our mission is to bring quality and profitability to every customer through superior control of critical processes during solar cell manufacturing.
Aurora’s products are used by some of the world’s most advanced and respected solar cell manufacturers. With headquarters near Vancouver, Canada, Aurora has operations in Shanghai, China, and partners in all major solar manufacturing markets. Aurora is a public company, traded on the TSX Venture Exchange (ACU) and is a two-time TSX-V Top 50 winner. Aurora’s website is located at www.aurorasolartech.com.
We own shares of these companies personally.
Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for Educational purposes only and are not to be interpreted as tips , financial advice or recommendations of any kind to either buy or sell any stocks.
Companies may or may not be paying us for content posted on this blog.