London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"Nel will produce 144 electrolysers per day on open." I think your figures are wrong, I suspect your number is "they can produce up to 144 sheets of coated steel that can go into their electrolysers a day", but you need a lot of sheets to make an electrolyser.
Major you may be right and my wallet is with you.
My brain is saying 1) they have an empty factory, 2) Linde have already made so much money from their investment on ITM share prices that what they have just invested is chump-change as long as they maintain a director on the board. If you buy at 40p and hold at 400p even the accountants like that.
But my key concern, is that Linde are not ordering units NOW. The factory is ready to make machines. Half of Linde's co2 comes from making grey hydrogen. They need to order over 3000 times more electrolysers compared to what they have already ordered to turn their grey into green. They are not ordering...................
The planet does not have time while the accountants wait to see how much Euro money they get before they place orders. Every day that factory is not full is a day lost to the planet.
Bilbo. Question,why would Linde top up in the raise?
I go back to norway. That company have the nikola contract from summer 2020 then nikola went bang. Miss managed, fraud, sp dropped through the floor, Nel said zip about it. Go check. Nada.
Then 8 weeks a go the video of the new facility came out and the ceo states when asked about the new production that nikola and everfuel ( another contract signed 2020 ) will be first up.
Nikola are on record as wanting 700 fuelling stations - nel have the supply for electrolysers but whether they are a bit shy about nikola being capable I'm not sure they really like to keep it quiet. I guess they felt burned once? Anyway 700 + whatever everfuel want is going to get shipped pretty soon.
ITM I think are in that zone of making for a large order or two which for ITM is good work.
Needing another factory indicates capacity is needed? My guess is until they have capacity the big orders are in the table and just waiting sign off.
Ibedrola ammonia project and Yara ammonia projects again from last year are high users of electrolysers. Nel had the factory coming from last year, so could sign up ? ITM may have underestimated demand and until they can cope with a big order that needs to be filled quickly then maybe they are restricted to size v time needed ?
Nel will produce 144 electrolysers per day on open. It is a huge step up to scale and tbh they need it to work as expected 24/7 fully automated.
They have 2 big steel contracts possible too but they are on epic scale, thrown on US DoE and DoDefence etc and its a hell of a lot of electrolysers needed to keep everyone happy.
ITM know something or else they would not risk expanding until the new factory is full utilised and more scale up is needed.
I wouldn't worry about the last 2 months or even 6 months. This is build build and build for them and I would suggest we build our stakes too. I guess tha fact bel can provide both types of electrolysers from the same factory helps where as ITM is one set version.
I am building here now things are basing out with the sp
Major, I'm with you in hope but I hear too much about change and it turns out to be a piece of BS. Right now ITM have a 1 GW factory and have rightly used the atmosphere before COP26 to get the money for a couple more. But, they have received no sizeable orders for going on 2 months now. Shell and Linde are failing to deliver actual orders and SNAM have some green European money but have still not placed an order. So the closest companies with the most to gain have done doodly-squat.
I ask Linde, almost on a daily basis, when are they going to step up to the plate and place an order. (I do it to disrupt their self-congratulatory FB page) Nada.
Thanks bilbo. I am a bit more positive. Nel were mock for testing hydrogen on US nuclear power stations. 2 months ago they got one with US DoE backing. Don't be surprised if something comes quick than you think. Nel proved that anything with high volume coal and power use is being looked at very closely now. Fingers crossed.
1) yes I went past Bessemer last night on the M1 and it looks great at night
2) No one is buying any significant amounts of electrolysers. Sorry it has to be faced up to, but, the few companies that are are playing at it as they try to get governments to give them cash hand outs. There is a lot of jaw-jaw but B@@@@@ All war-war. So far only three companies are trying for steel out of hydrogen (the technology is simple enough) it is all about the dosh.
Bessemer Park looked FANTASTIC slap bang against the M1 = ITM Power stands out , nice !
Forgive me if all of this has been covered, but I've just driven back South from Leeds and saw the ITM factory from iff the motorway. Crikey its right next to the Sheffield steel works. I know hydrogen is being tested in the huge EU / Norway steel works already as they use so much coal.
Could someone update me on where ITM stand regards converting any of the large works across Europe ?
I will do my own research on specifically ITM but it has just dawned on me just how close they are to the steel in Sheffield.
I'm pretty time short at the moment with work but I think I heard that Rotherham got some kind of funding to keep open / reopen a large industrial company, would that be steel too ?
https://www.itm-power.com/markets/steel