Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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Some very well argued rationale there Alpha especially with regards to perceived delays now working in our favour. One does get the impression that the next upwards moves should be sustainable but needs to have orders embedded within. Long term holder who has sold into last rise and been adding on the drop. Would have added more had funds allowed. Glah
Https://www.fuelcellchina.com/Industry_information_details/1073.html
The Chinese risk may not be quite as bad as some fear. They currently make mostly alkaline electrolysers- not in direct competition with ITM. Also there have been significant delays in their highest profile projects suggesting some ongoing issues with reliability etc. There have been articles like the above suggesting that they might not be as cheap as initially thought. Final defence is political USA won’t support Chinese products in their IRA, Europe may well go the same way and UK- who knows!
Mike- no dilution as far as I am aware since £4 placing. Cash position strong as a result of the cash placement.
Progress has been bumpy since then. Increased losses on support for prior deliveries, slow ramp up of production, losses greater than expected.
Since change if CEO we initially had a little bit of kitchen sinking ie get all the bad news out at once. Since then it appears steady execution of plan. Slower ramp up of orders and production has given ITM time to get things in order. The increased power supply to factory to allow FAT to be completed at reasonable scale a basic. Collaborations with Johnson Matthey and a couple of other companies notable. Some big orders in the pipeline 3x100MW but no final investment decisions made on these.
I would say looking a lot brighter than 1 year ago but need evidence of orders and delivery to de-risk this. Then we should be looking at £4 again. In ITMs defence they haven’t wasted as much money as plug power and are now razor focussed- even more so than NEL. The delay in FIDs over the last year may have been in ITMs favour. For me it’s a buy/hold at this level. Managed to top up a little at lower prices. Tempted to buy a few more.
DYOR
MikeC365, that must have hurt! But if you got back in at a low price, then you have a second chance. My play here is to hold, as hydrogen is a fuel of choice for the future. ITM is well-placed to be a leading player in the field. My main concern is competing with China, as they could are manufacturing electrolysers much cheaper. ITM seems to be very strategic in keeping their cards close to the chest about their technology and pricing strategies, so I hope this will be enough to steer investors away from cheaper Chinese alternatives. Then, once the global economy stabilises and interest rates are cut, we should see some great recovery here with some ITM orders being placed.
Bought these years ago at 45p and impatiently sold at 55p before the rise to £7..... hoping not to miss out this time, as hydrogen is the future.
Has there been any more dilution since the placing at £4 and are we in a better position now than when people thought this was worth £4 per share?
The 70p range will be nice place to end up this week. For now though it could easily go back down as people take their profits from the 45p lows (smart). We need news on large new orders, that will really boost the sentiment for ITM and push things closer to £1.
Pony - I agree but the longer you leave it and the higher the price moves your profit dwindles accordingly. Much like if you bought a share low, make a big profit and then the profit takers move in and you watch your profit disappear. But as you say, much depends on when they took out their position.
I could have worded that better (close not selling), and large shorts can close over time. Hope that helps.
Won't be for much longer.
This was a screaming buy on the interim results RNS to in my opinion, return to £1 in short order and probably higher.
As has been stated before, shorts don't necessarily close instantly, especially if they are still profitable. Depending upon when the short was taken up, there may not be pressure to close. Therefore, shorts will partially sell, which will result in upward pressure over time, rather than in one go.
This would be different to say a stock where the shorts are under water, where there would be more pressure to close quickly.
I wouldn’t worry about the whys or wherefores the fact is there is a short squeeze going on here. Enjoy the ride.
How can the short stock figure STILL be 3.71% after last few weeks of good trading positives ?
Plugged by Ian Cowie in the Sunday Times.
I expect ITM to shoot to £1.00 this week and continue upwards. This is the year that the shorters will get burned big time.
You can't hold back what is obviously a proper company in the right business at the right time.
multi bagger - watch this space
Onsolidground thanks for this link, I look forward to this evolving to hear more info on ITM's role, there is no mention of this in the link you posted. I will also be good to know the FID funding numbers.
We are pleased to announce James Collins as our new Head of Business Development.
In his previous roles at ITM leading Investor Relations and most recently Corporate Affairs, James has already been active in leading discussions with customers, investors, funding agencies and government stakeholders. As Head of Business Development, James will focus his experience on leading our customer engagement activities to accelerate the growth of our pipeline.
Great buy in price last few days since the update, I can see see touching £1 over the next few weeks.
I don't see any delay.
https://www.shell.com/media/news-and-media-releases/2024/shell-invests-to-repurpose-german-energy-and-chemicals-park-rheinland.html
Wig1 yes I saw this as well. This is a old information. I am trying to find out what news Dennis was referring to that was recently published. The points I discovered in my earlier post are old new and have been resolved positively. Hopefully the FID on the Refhyne 2 project is announced soon. Europe has big plans for hydrogen, that's for sure!
https://energy.ec.europa.eu/news/renewable-hydrogen-production-new-rules-formally-adopted-2023-06-20_en
I posted reference to the news on the day. Looks like we have some not very successful day traders trying to cast FUD on things. FID decision made to repurpose the site.
Here you go.
https://www.shell.com/media/news-and-media-releases/2024/shell-invests-to-repurpose-german-energy-and-chemicals-park-rheinland.html
Germany - REFYHNE: Rhineland electrolyser
At the Shell Rhineland Refinery in Wesseling, Germany, we built one of the largest hydrogen proton exchange membrane (PEM) electrolysers in the world. It has a peak capacity of 10 megawatts and produces 1,300 tonnes of hydrogen per year. The electrolyser also helps balance the local power grid, by enabling the refinery to make and then store hydrogen when there is surplus power from variable renewable sources, such as wind. The plant, built by ITM Power, is operated by Shell, and began operating in mid-2021. Project REFYHNE is partly funded by the European Commission.
Building on the lessons learned from Refhyne I, the Refhyne 2 consortium has been awarded a grant by the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the development of a 100 MW electrolyser, also to be sited at Shell’s Energy and Chemicals Park, Rheinland in Germany. Project is subject to a final investment decision, expected later in 2023.
Dennis indicated there was positive news on this during the call.
I remember them saying in a presentation or a RNS about a FID expected end of last year. I have been trying to find it as well, but was definitely mentioned. I am not sure who the client is, I thought it could be Shell
The ITM investor presentation mentioned some news recently released about the Refhyne 2 project but I cannot find it. The FID was due last year but things have gone a bit quiet there. My findings posted before simply came from a Chat GPT search. Now I am trying to verify. When the question was put forward in the ITM presentation, the answer seemed a bit too deflective for my liking.
BMW positive on Helium vehicles : https://hydrogen-central.com/bmw-says-goodbye-to-electric-cars-it-has-now-solved-the-problem-of-hydrogen-engines-mes/
Just to clarify, my recommendation on your initial post was in error.
Hi Rick, I could not find any reference to either point online. Cheers.