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You are reading "lead supplier" and looking for ITM? Probably a mistake.
you are also looking at some fossil fuel company projects listed there. Some such projects are designed to fail. They are called zombie projects and part of a ff strategy to destroy our civilisation.
How has this happened? The present lead on green energy is one of the most undereducated man in the Government. This government likes to use incumbants to plan our future in certain industries. Hence BP and Shell make up the majority of high level paid for advisors on certain committees.
ITM's last CEO is a brilliant man who, sat through a number of these committee meetings and demonstrated his lack of confidence in the process.
Our new CEO is well aware that our biggest market is the EU (much hated by this government) and is focusing on the big prize. That does not mean he has walked away from the UK as a potential market but ..... let's get real, the barriers to saving our civilisation are immense.
I'm glad to see they reduced the size of the board at the same time as reducing the size of the workforce. On the otherhand I'm not sure bringing in a NEO from an insurance charity is the right sort of appointment. Ah I see she has 15 other NEO roles. Good to see the Chair has found a young cutting edge dynamic member to sit in the corner.
Just interesting to note three sets of figures over three years
Revenue. 5.2, 5.6, 4.3
Inventory 18.3, 24.3, 3.9
WIP 40.5, 7.9, 2.5
now I know that the top line is annual figures and the bottom two lines are snap shots but that is a lot of stock for such turnover. So I can see a bunch of reasons for that stock. Historical poor quality and holding of one off old technology bits for warranty, stock held while customers sort out their planning, poor buying relationships and slow throughput in the factory.
Dennis, what is your throughput time targets for a unit? If we assume 10MW is the standard product and we want the site to be 1GW, then with 250 normal days a year we need a drum-beat of 2.5 days. I wonder what the testing soak time is?
Chairman "As a Board, we acted swiftly by appointing Dennis Schulz as our new CEO" what a load of BS. Quickly, it took 5 years of nagging day after day. Even the dogs in the streets new the last CEO had to go.
Resign!
Sometimes, with these relatively small shares they only really get looked at once a year by the analysts. Expectations are not high, hence...
An improved share price requires Dennis to bring in the orders.
What I don't really understand, given how much core structuring work is going on, why the Chair has not resigned....
Nice piece of supplier stitching-in going on with all these deals.
Dennis, on the other hand, can we see some orders please???? Just a drip drip would be reassuring
Yeh, I didn't really buy the SNAM deal either.
The term "backlog" is always tricky because it used to mean "overdue" but it now just means "orders outstanding" which could be caused by customer planning design issues all the way through to supplier issues.
With no clear steer from EU, UK or US government on uses for green hydrogen it takes a person with balls to decide they are going all in and only the Australian has deep enough pockets for his balls (I think this analogy has run its course).
How can you write that in if you have no market (in motives case) and no idea of price? What you base the price on? I've been there when a JV splits and you normally end up getting a low base price but that then constrains you from finding a better product. I guess you could do a 5 year deal but I'd prefer a clean split.
JVs normally go to the other party. I assume this to be the case, but not certain.
Who says? What économies of scale? What assumptions? What warranty?
Are we talking apples to apples or fossil fueled subsidized oranges?
Trouble is UK gov, believe in Carbon Capture
You could do, but not all questions get answered there, while an FD has a duty to respond to reasonable questions relating to RNS announcements
I suggest you drop an email to the FD
I've tracked back Graham's career over 3 businesses. I'm not sure he results are that impressive. But DYOR.
I'd start by asking about cash in the bank and the significant value that supports
A major shareholder and JV partner is one of the top gases companies in the world which must be worth something
Recent sales of large units are harbingers of an exciting future
The rest is up to you
The whole politicisation of the FF car/oil industry will be the ruin of us all.
i've had a think and my only conclusions are
1) the 12 july interim made clear that despite being cash rich the company was not going to offer another special dividend
2) i'm pretty sure the **** up the board made of the share buy back authorisation was not a driver to the share price movement
Clouds don't really work as the solar energy still has passed through most of the upper atmosphere to get to the cloud, so all that happens is the cloud still gets warmed up and more energy is added to the system. Better than hitting the earth proper but only marginal. We would need to keep the energy out of the atmosphere.... Then some numpty will start focusing some solar energy from giant mirrors onto energy receptors to get around the toupee.
All these, free ride, ideas miss the point. No pain, no gain.
Https://www.theguardian.com/global-development/2018/apr/05/scientists-suggest-giant-sunshade-in-sky-could-solve-global-warming
Science fiction writers have called this the "toupee" and the idea has been around for some time.