The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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ITM's decision to withhold news of the megawatt electrocyser sale to Japan could be part of a strategy to deliberately stabilise their share price. By keeping developments quiet, they may be creating an opportunity for significant investors to enter the market at a lower price point before any substantial rise. This calculated approach could enable big investors to capitalise on potential future growth before it accelerates too rapidly.
They seem unaware of the one on Orkney. Daily Mail...
Very flat market for what would appear to be more good news
ITM Power is pleased to announce a milestone in its collaboration with Sumitomo Corporation: the delivery and installation of a NEPTUNE electrolyser at Tokyo Gas Asia Pte. Ltd.'s Yokohama Techno Station. This unit marks the first deployment of a megawatt-class PEM electrolyser made overseas and imported into Japan.
Manufactured by ITM in the UK, and shipped to Japan, the electrolyser is now installed. After commissioning, the hydrogen produced will be utilised in the e-methane production of Tokyo Gas. This is an important milestone on Japan's journey to carbon neutrality by 2050.
Dennis Schulz, CEO of ITM Power, stated, "ITM is proud to work with Sumitomo to support Tokyo Gas in advancing hydrogen technology deployment in Japan. We are keenly observing the wider developments in Japan, such as the government’s CfD style support scheme, which could see Japan emerge as one of the most fertile countries for green hydrogen projects in the region.”
In an unexpected move to drive the automotive industry towards a more sustainable future, Toyota has implemented a hefty price reduction on the Mirai, its pioneering hydrogen fuel cell vehicle. Initially priced around $60,000, the luxury sedan has seen a decrease of up to $20,000 in the United States. This 60% discount is seen as a strategic initiative by Toyota to bolster sales of the Mirai and spur wider acceptance of hydrogen-powered transport.
https://twitter.com/kaffjamesnewtow/status/1771946599012274207
So could this tiny street in a Fife town really solve the world's energy crisis? https://mol.im/a/13231261 via https://dailym.ai/android
Toneman, great post. Been having the same experience and have come to the same conclusion. Doesn't matter how rosy a companies future might look, if the numbers look sketchy then thats a major red flag for me from now on.
We are already deeply engaged with them through the 200MW pilot projects at Lingen, and considering their ambitious target of 2GW within the next 6 years, this is incredibly exciting news!
RWE announced today it is developing a large-scale green hydrogen production plant with an initial size of up to 260 MWe electrolyzer, capable of producing up to five tonnes per hour of green hydrogen. It seems the price ITM was working on for a several 100MW project will be this, great news. Expecting an RNS about this contract in the next 6 months, one of many this year for the future.
https://www.offshore-energy.biz/rwes-plans-for-green-hydrogen-production-in-teesside-gain-ground/
You would hope so, losses are building... but remain hopeful.
Presumably we will get a detailed update when the interims are announced at the end of this month?
If, you don'y beleive in it, sell out.
https://www.lse.co.uk/ShareChat.html?ShareTicker=ITM&share=Itm-Power&thread=54E21C48-4271-4096-8A6F-B6773574E876&reply=true#posting-rules
Yes, sadly back to the 40's we go.
This share reminds me of the Status Quo song down down deeper and down .
The two stories from marketing that make sense to me
1) sing when you have nothing to say
2) rebrand when you have nothing new to brand
BTW a new font is not a rebrand.
Still they have a nice video they can post on line and I suspect they have done everything they can to stimulate a market that just does not want to be stimulated. So I challenge Dennis to review the top 10 electrolyser deals which are going to go down in 2024. How many has ITM been invited to quote on? How many did they win? If the answer is not 10/10 then what needs to change?
Contracts are what I want to see. Signed, sealed and delivered. Not the least bit interested in a font change of the company logo .
Forgive me, my cautiousness comes from watching money being spent on things which are not strictly necessary. I've just lost another two investments this week in pre-profitable companies. They simply ran out of funds and felt the market was not in a position to stump up some more. Usual story, sold to a consortium or sole backer, took all the IP for a pittance and with the product all ready to scale up, and all the early investors tossed aside with nothing. I can afford the losses but I'd rather be a part of their future. Companies running out of money should not be underestimated.
JeffMills - Only one person is (sort of) grumbling, so you should have said "when I hear one person grumbling"... ;-)
I can't help but chuckle when I hear people grumble about a clip regarding rebranding, as if they know more than the former head of strategy of Linde, the chief officer, and managing director. Since his tenure began, he's orchestrated a remarkable turnaround for the company. While we're all eager for immediate deals, it's clear that patience is paramount. Green hydrogen, once a mere possibility, now stands as a certainty in my view. Governments are funnelling funds into it, and the momentum is undeniable. So, let's take a step back, remain patient, and watch the transformation unfold.
I wouldn't read too much into that video and what is just a "brand refresh" (to use ITM's own words).
ITM is not a mass consumer business but a heavy industrial B2B one, which is driven by sales rather than marketing. This type of video is more seen by investors than actual customers. And it largely reiterates what it has claimed to have been doing over the past 12-18 months.
Interesting take on marketing and rebranding. With recent milestones like the Shell deal and visits from the UK government, visibility is key Toneman.
Or, it shows a confidence in drawing a line with the past, & gives direction for the future.
Toneman, somehing I am sure , even you have done in performance reviews & work, to great effect.
Let us hope that the DESNZ have absorbed the findings of the Royal Society report on long term energy storage and have a serious plan to accelerate hydrogen generation/storage. Making use of all the UK based tech and wind energy resources estimated as 1800GW: https://gwec.net/wp-content/uploads/2021/06/United-Kingdom_Offshore-Wind-Technical-Potential_GWEC-OREAC.pdf . Significant sovereign wealth fund potential!
I can understand why Dennis would want to try and break away from anything that looks like the ITM before he feels he fixed it. But a rebrand is seldom seen as a mark of strength. It suggests the need to relaunch, in a slightly desperate bid to be visible again. In addition to that I'm not sure we have money to waste on stuff that isn't likely to move the needle.