Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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https://m.marketscreener.com/quote/stock/ITOCHU-CORPORATION-6491311/news/ITOCHU-Announces-Conclusion-of-Memorandum-of-Understanding-with-Nel-for-Hydrogen-Business-Partners-36632842/
Pinball , whoops another contract this time in Japan for , drumroll please ....PEM & ALKALINE electrolysers.
Darn , I think I can find another 4-5 if you still think Nel only do carp alkaline ?
Hey Pinball,
From the presentation today the CEO somehow thinks NEL does do PEM Electrolysers ??? Hahaha The guy must be going bonkers ? Ah, no is is absolutely 100% correct. Nel DO make and have sold MANY PEM electrolysers.
"The company produces proton exchange membrane electrolyzers from a plant in the US, and Lokke said the hydrogen outlook there was also positive.
The US was "closing the gap with their ambitions to the Europeans," Lokke added.
He noted interest in the US to couple Nel's electrolyzer technology with nuclear power generation, to provide an outlet for steady power production at times of low demand.
Lokke also said the potential for hydrogen to link with offshore wind was a key area of focus for the company.
Nel is involved in three offshore wind projects: ERM Dolphyn, a renewable hydrogen from floating offshore wind project; Deep Purple, which combines the same approach with subsea storage; and PosHYdon, which plans to blend hydrogen with natural gas to pipe to shore.
Production expansion
The Heroya alkaline electrolyzer plant is ramping up production to 500 MW/year, and has the potential to expand to 2 GW/year.
Lokke said the company could add production capacity "relatively quickly," starting another line within 12 months, but said that Nel wanted to run the first line for some time in order to capture any learning and efficiency gains from the process before expanding.
He also said the company would look to monitor where demand was developing before responding with increased production, to potentially locate future additional production elsewhere.
Nel was also looking at introducing PEM electrolyzer production in Europe. Its production of the technology is currently based in the US."
Damn, PEM supply is only in that little country , you know the one who NEL are supplying NIKOLA CORP, SHELL & TOYOTA oh and that small Japanese firm Iwatani. Damn , both alkaline and PEM in the same company. Head massively blown away.
Get your facts right buddy ? Anyway I own ITM shares and am very happy with the potential here too. Buy those daft dips here and NEL.
I gave ITM a VERY STRONG BUY.
Pinball, read the website as you don't know.
They do both. There are reverse processing which is twice as efficient anomgst other new developments.
Guess you missed that and the Willington R&D for the US Gov, the one they got a contract for on the Nuclear project. ITM are good ok, BUT have they got to build another factory now, as NEL have 3 lines ready to rock and roll in Denmark to 2GW within 14 months.
Sorry you are taking it the wrong way mate but ITM & NEL are both making the world a better place.
Hydrogen can have several companies all making good money.
https://nelhydrogen.com/press-release/nel-asa-receives-contract-for-a-1-25-mw-containerized-pem-electrolyzer-for-doe-h2scale-project-in-the-us/
Hmmmm looks very much like PEM by NEL
"The purchase order has a value of approximately USD 2.6 million, and the electrolyzer will be delivered in 2022. The project is funded by the Department of Energy’s Hydrogen and Fuel Cell Technologies Office"
Hmmm looks like the f in US GOV are backing PEM with NEL. Sorry but dyor and make sure you know what you are talking about before ****ging people off?
Most of what nel sells and still has to maintain is alkaline electrolysis that doesn’t integrate with renewable energy , is at the end of its R&D and difficult to improve, is large footprint and costly and a hassle to maintain because it involves liquid caustic electrolyte.
Very difficult at large scale. ITM make PEM electrolysers : apples and oranges
NEL HYDROGEN 5x 2020 GLOBAL supply , astounding and RIGHT NOW ! Production has now started at Heroya Denmark factory.
No political problems here. Pure and simple. The 24/7 , FULLY AUTOMATED , 144 ELECTROLYER factory in Heroya will open within days.
NOTHING like it in the world at present. Should storm the market in the next 12 months.
US Defence contracts.
US Nuclear Energy supply contracts.
EU Ammonia $800 MILLION projects starting by year end.
NIKOLA CORP supply can now start as Heroya is now in production. Contracted.
EVERFUEL supply can NOW start as Heroya is in production. Contracted.
HYUNDAI Swiss TRE IVENCO supply can NOW start as Heroya is now in production
Etc...etc.... Just do your own research or look back at my previous threads. Hope that helps you find your US PORT way to Hydrogen enrichment.
ITM raised £250m in 24 hours !!! Hello !!! In todays climate that was a well timed raise.
Having pointed out NEL Q3 results my hope is this is the kind of super growth ITM will and yes I believe WILL see in the coming 2 years.
ITM will easily be a £10.00+ share and if funding , costs, cvd and good good management I could gobover the top and say £20.00+ a share, but gain most of the big steel, aluminium, large wind projects and fuelling / housing deals in the UK alone and I don't see why not in time.
Cont ... "Nel has expanded its electrolyser capacity at Herøya, Norway, which is a key element to delivery on the cost target of USD 1.5/kg set out at the Capital Markets Day in January. The expansion of the electrolysis production accommodates large-scale projects through the fully automated manufacturing facility. Installation and testing of installed equipment have been completed in the quarter and the first batch of electrodes has been produced from the production line. The exact speed of ramp-up will be aligned with customer requirements.
“We remain confident in the long-term potential of the green hydrogen industry and reiterate the strong growth outlook. With the new production facility at Herøya up and running, we remain confident that Nel is well suited to capitalise on the opportunities with our proven track record, market leading position and global delivery and execution muscle” Løkke concludes."
$6 BILLION not my estimated $3 BILLION.
NIKOLA CORP & EVERFUEL supply to start within days. 700 fuelling stations for NIKOLA CORP approx $800m. EVERFUEL deal was initially for $200m.
Hyundai Trucks in Switzerland 1600 going to hit the road any time now so they will need fuelling stations.
US DoE Nuclear Power Plant ...s.
US Navy
TOYOTA / SHELL US California Hydrogen fuelling network currently being built for trucks and testing out supply using Mirai hydrogen car.
Plenty more if you look at my posts on LSE NEL. My biggest shareholding by far boyobach.
Oslo, 21 October 2021) Nel ASA (Nel) reported all-time high revenues of NOK 229.3 million in the third quarter of 2021, up 55% from NOK 147.7 million in the same quarter of 2020 and an EBITDA of negative NOK 113 million (Q3 2020: -42.1) incl. one-offs and ramp-up cost. This includes costs relating to the ramp-up at the new Herøya facility, which will commence production for Nikola and Everfuel in the fourth quarter. The order backlog ended at NOK 1 014 million, up 8% from same quarter last year. The potential pipeline of orders continues to grow, currently amounting to more than USD 6 billion and Nel reiterates the strong long-term outlook and growth prospects for the sector.
“In the third quarter, we are proud to announce that we have produced the first electrode batch from our new, fully-automated production facility at Herøya and we are ready to start producing the orders to Nikola and Everfuel in the fourth quarter. Nel reports all-time high revenues in the quarter, however, the financial results continue to be negatively impacted by the strategic ramp-up, investments in people and technology and the continued effects of the Covid-pandemic. It is encouraging to see the pipeline of potential projects continue to grow even if orders are taking longer to close as order sizes increases and public funding mechanisms are taking some time to implement,” says Jon André Løkke, Chief Executive Officer of Nel.
Nel reported revenue and operating income in the third quarter 2021 of NOK 229.3 million (147.7), mainly related to increase in the Electrolyser segment compared to the same quarter in 2020. Nel is no longer reporting adjusted EBITDA separately, however, the EBITDA includes one-offs and ramp-up cost. Results are impacted by costs relating to the ramp-up at Herøya before production and revenue contribution from the facility. The reported operating loss was NOK -138.9 million (-116.3), while the pre-tax loss ended at NOK -509 million (-628.6) following a net negative fair value adjustment related to the shareholding in Everfuel and Nikola. The backlog is up 8% since third quarter last year, with an order intake of around NOK 139.2 million in the quarter.
The pipeline of potential orders continues to grow and stands at a record-high amount of more than USD 6 billion. The pipeline represents more than 11 GW of installed electrolyser capacity, with the single largest potential order of 1.6 GW. Net cash balance at the end of second quarter 2021 was NOK 2.93 billion.
“Nel continues to have a solid cash balance and a strong financial position to execute on our strategic plans, and we will continue to invest in technology and people in order to maintain our leading position in the rapidly growing hydrogen market,” Løkke comments.
Nel has expanded its electrolyser capacity at Herøya, Norway, which is a key element to delivery on the cost target of USD 1.5/kg set out at the Capital Markets Day in January. The expansion of the electrolysis prod
Boyobach - check out NEL Q3 Results. I said this week $3BILLION in orders in my view could be possible by 2022-23.....
"potential pipeline of orders continues to grow, currently amounting to more than USD 6 billion and Nel reiterates the strong long-term outlook and growth prospects for the sector."
Good points MO - if I could invest in NEL easily (I use ii and can't) I'd be very tempted, as the upside potential looks greater.
Tennents "RE: Nuclear power is not sustainable energy13 Oct 2021 22:48
This is hilarious.
How much coal and lignite are the Germans burning?
How much electricity are they importing from France (nuclear generated)?
How much gas are they going to import from Russia - placing Europe at a strategic geopolotical disadvantge (in simple terms a 'vassel state') to Russian whim?
What is the bet that the new Chancellor puts the closure of the last German nuc stations on hold and lets them run out their working life?
By which time Germany will have established a sustainable hydrogen based economy and stopped being the biggest polluter (and environmental hypocrite) state in Europe."
Dad says NEL are already on the way to Nuclear Hydrogen - https://www.world-nuclear-news.org/Articles/Nine-Mile-Point-to-produce-hydrogen-for-self-suppl
Now go to bed. Living in Derby I can tell you 100% that clean nuclear is a lot nearer than you have any idea of ! The building is small, old town, looks nothing from the outside , but one if the most important building probably in the country for R&D thinking. You will hear the news soon enough.
Hydrogen is coming fast. Along with nuclear and large amounts of storage capabilities - mixed versions.
Thanks dad.
Boyobach, I have full faith in ITM & NEL. The sp is amazingly low but the shares in issue is the same.
My research leads my towards 2023-2024 approx $3 Billion in orders. That is my expectation based on atleast 10 projects. 3 should provide approx $500m-800m. That is just 3.
Making 4,200 electrolysers per month will allow this scale up to happen.
In the US, Willington factory will , as I understand be scaled up to Heroya fully auto level so add that production in by 2024. That will provide the scale for US contracts and hydrogen network - s x ...
It is clear ITM & NEL are on very similar path , just NEL look set for global production supply , ITM look more like UK / EU related.
If you go to NEL on LSE you will see many of the projects and initial supplies already starting.
Poland, Austria, Switzerland, Germany, France, Spain, Denmark, Sweden, Norway, Holland the list of companies based in just these European companies shows the tenticles that NEL have developed ready to pump them up to arteries of supply.
I really see both doing extremely well.
You've rather made my point MajorOak: For the reasons you've listed, NEL's sp should logically be outperforming that of ITM so why isn't it? I know there was a link with Nikola and the problems there but does that fully explain it ? If NEL's sp performance this year is 'correct' then that could point to an uncomfortable conclusion about ITM's.
Thanks for this insight - looks very promising for us all!
Boyobach, lol, 144 electrolysers per day on a FULLY AUTOMATED factory. Nel are given the title of wirld leaders in the production of electrolysers. This is not by me but the industry. They have supplied in the US & EU 1 previous and the 2nd new 3 line factory opened now as stated by ceo on todays link.
To put it in to scale literally. Proton , now Nel in the US and a few recent electrolysers in Denmark in the last FIVE YEARS have produced and supplied 3,700 approx.
Nels new factory once up to speed in the coming month will produce 4,200 PER MONTH. They produced 3,700 in the last FIVE YEARS.
Nels new factory once promoted as actually being open will be a geological shift in scale up. The bug industries of steel, aluminium, ammonia, solar, transport NEED BULK supplies to generate enough power to invest in the first place. Nel are way ahead.
So to the answer to your question, most people have never even heard of Nel. They keep themselves to themselves and get on a do.
Check out Port Los Angeles. Bet you haven't heard of that project ...
There are several bulk intense hydrogen projects they are involved in , Ibedrola being one to power spain !!! Watch and wait. My biggest hdi g by far is NEL. I have posted more info over there but ITM will achieve a great deal too, it is just time.
In retrospect I think ITM wish they had done what Nel have done with Heroya factory. 2 lines initially but CAD designed a 3rd processing line in for no extra cost. 24/7 automated production has started !!!
The sp will take care if itself once we get a full Q of operation.
First supplies go to the small company NIKOLA CORP with 700 fuelling stations to build a Nel providing the electrolysers and support for the 700 , so should come in somewhere around th$600-800 million for the contract.
Everfuel are expanding across the EU. They are getting some too. Details to come.
HYUNDAI Trucks 1600 being released in Switzerland all the fuelling is NEL. Watch this space.
US nuclear power station contract ...
I could go on but its an ITM forum.
I am simply highlighting the potential as that is what both companies have new hydrogen and potential.
Why is NEL sinking? https://invst.ly/wcam8 (ITM v NEL & CELS index)
For over a year now, ITM has generally tracked the CELS index (green) albeit with a fair amount of volatility thrown in. Meanwhile its Norwegian counterpart, NEL, has steadily sunk. I should add that CWR, by comparison, is doing best of the bunch: https://invst.ly/wcaol
But why is ITM’s Norwegian rival faring so much worse in terms of sp? It never did reach the heights - highly premature in retrospect - that ITM and CWR hit in January. All three suffered a knock-back at the end of April but, from the end of July, NEL has drifted ever lower whilst ITM and CWR appear to have found a floor, for the moment at least.