Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Just wanted to confirm it is ITM's earnings report tomorrow?
Thanks,
Grants: The French government will provide financial support to companies investing in renewable hydrogen and biomass. This support will come in the form of direct grants, meaning companies will receive money directly from the government to help cover the costs of their projects.
Timeframe: Companies receiving these grants must complete their projects within 36 months. In other words, they have three years from the time they receive the grants to finish their work and start operating. This ensures that the projects move forward efficiently and contribute to the transition towards renewable energy within a reasonable timeframe.
The European Commission approved a €900 million French scheme to support companies investing in biomass and renewable hydrogen for energy and fuel production, aligning with the Green Deal Industrial Plan. This aid, granted under the State aid Temporary Crisis and Transition Framework, aims to accelerate the green transition and reduce fuel dependencies. The French measure supports the production of heat, fuels, and liquid fuels from biomass and renewable hydrogen for industrial processes and transport. It takes the form of direct grants and is open to new installations and scaled-up projects, requiring completion within 36 months. The Commission found the scheme compliant with the Framework, ensuring aid incentivizes renewable energy production, adheres to aid intensity limits, and is granted by December 31, 2025. Approved under EU State aid rules, the scheme contributes to implementing the REPowerEU Plan and the Green Deal Industrial Plan. This decision comes in the context of the Temporary Crisis and Transition Framework, adopted to support sectors crucial for transitioning to a net-zero economy, with provisions amended following Russia's aggression against Ukraine.
ITM's decision not to announce the sale through an RNS suggests that they view it as relatively small compared to other developments on the horizon... This implies that ITM Power likely has larger, more impactful projects or milestones in the pipeline, which could potentially offer greater value to shareholders in the long term.
Absolutely, you're correct Jim.
However, while companies like ITM Power have a legal obligation to disclose material information, the significance of a specific transaction can be contextual. For instance, if ITM Power sells a small 2mw to Japan, they might argue that its impact relative to their overall operations is minimal. For example, if RWE announces a 260 MW project, ITM Power's smaller transaction may seem inconsequential in comparison. Therefore, ITM Power could reasonably consider the transaction's size and significance in the broader industry context when deciding on disclosure. As long as this decision aligns with regulatory guidelines and is made in good faith, it's typically considered legal and within their discretion as a company.
However, companies/directors are under an obligation to disclose information that could affect/have an impact on the company's share price.
The reasons could be strategic, such as not wanting to disclose too much about their market penetration plans: By avoiding public announcements via RNS, they can maintain a strategic advantage and avoid drawing attention from competitors, allowing them to establish a foothold in Japan without alerting everyone to their market entry strategy. This approach helps them operate under the radar and potentially negotiate more favourable deals with clients or partners in Japan.
I seem to recall ITM telling us they wouldn’t be putting out RNS for smaller sales.
Having said that, this looks fairly significant. They did announce on twitter in January that they were shipping a Neptune unit to east Asia.
It does add another big name that ITMis doing business with. Totally agree with sentiment here. Onwards and upwards Dennis. Big announcements hopefully coming soon.
To me, ITM's decision not to share Japan's first purchase of a MW electrolyser from an international company via an RNS indicates a pending major announcement which makes this seem like nothing, could it involve a significant deal with RWE? Speculations suggest a potential agreement spanning 100-260MW over four years, potentially driving the share price back above £1.50 this summer. Come on Dennis.
To be honest, they might be planning a major reveal which makes this seem like nothing, such as deploying several hundred megawatts, or they could be maintaining silence to prevent premature market reactions before a big investor buys in like mentioned below. The significant growth potential in Japan's green hydrogen sector, backed by substantial government investments, underscores the importance of ITM's position. This strategic silence hints at careful planning that could shape the company's future significantly.
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.
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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?