They seem unaware of the one on Orkney. Daily Mail...
Great positive cash flow, SP goes down... maybe a few investors are using their money to invest in other companies that are going to do better, short term.
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?
"We had two visits from Department for Energy Security and Net Zero this week and we were delighted to welcome a delegation from the Policy Team to show them around our factory and get to grips with our technology. With ITM sitting at the nexus of supply chains, with over 23 years developing electrolyser technology, we are uniquely placed to share our ambitious vision for the UK, and beyond. Many thanks to the DESNZ teams for their interest in what we are doing. Our door is always open. "
A bunch of Brazilians visited the plant this week.
Result presentation well publicised
join investormeetcompany
One of the problems with Industry is that it pretty hard to decarbonise. The Economist has an interesting article this week. Basically they used to think that for stuff above 100C fossil fuels was the route. Technology in the form of some amazing new heat pumps into the 200C and even 500C area are beginning to change this. The other technology is heat storage which is bounding forward in leaps and bounds (everything from molten tin to hot rocks) can deliver temperatures in the 1000C to 2000C range which makes glass melting well into range. Finally some clever guys have learnt how to make cement without heat, just chemicals. The world is changing and needs economic pressures to drive these technologies. Over to you "governments".
Oh and forgot, Spain agreed years ago to not try to sell energy to Germany but only to France and Portugal (some Europe nonsense), but that deal seems to have been either cancelled or just blitzed.
Meanwhile our own brave idiots, with the option of bringing energy from Morocco to the UK decided to allow it as long as it goes the long way around (through international, Russian sub infested waters), rather than through Spain or France. Another benefit from the right wing nutters who do not understand basic business or economics.
Italy has enormous funds to spend on green (but within a tight time limit) but has put a stupidly underfunded system in to apply for the funds. France is Nuclear driven. Germany has turned off its Nuclear and has to get off its dirty coal with the Green party in government and Spain is sunny and windy with a reasonably well managed economy. QED.
Interesting, pity so many are really fossil fuel projects.
2020 research comparing temperature effects on fuel cells and batteries
https://fuelcellsworks.com/news/study-by-cte-cold-weather-effects-range-loss-in-winter-fuel-cell-beats-battery/
"Snam is funding around 10% of a 2GW gigafactory project in cooperation with De Nora to produce electrolysers to produce green hydrogen." is a bit of a kicker
Hot off the press so not read it but..
https://carbontracker.org/reports/decarbonising-gas-networks-part-1-snam/
"David Cebon, a professor of mechanical engineering at the University of Cambridge, said: “If you use green hydrogen it takes about three times more electricity to make the hydrogen to power a car than it does just to charge a battery.”"
It takes 3 times as much energy to get from fossil fuels to deliver to the road but that doesn't stop us all using fossil fuels. Efficiency is never a focus, price is. Having fossil fuels like methane fixed at 1/3 the price of electricity ensures that fossil fuels never lose out. That 1/3 is not a commercial calculation just a mandate from government.
As others say, inflation up, interest rates have to go up so the "utility" of this share goes down. Hence the share price goes down.
Now would be the time to buy if you think inflation is coming down. See also other forms of pseudo-bond.
Basically because these two events are not significant in the eyes of the board.
I agree that shipping a Neptune is not significant, receiving the order may have been, shipping no.
I suspect this design work is not especially costly, hence not significant. Multi hundred MW could be 2.
This causes climate change. All capitals.
Climate Change, rather than climate change, is caused by human industrial development.
LOL
lots of people like to avoid their responsabilities. :-)
My thoughts
1) Republicans are screaming that the US cannot afford the debt that is funding the green deal. Luckily no one is listening
2) Subsidies to fossil fuels mean that grey hydrogen will be cheaper than green. (.)
3) setting the cap on methane at 1/3 of the cap on electricity charges means that heat pumps will always be more expensive than domestic boilers (which is why local town heating is the main uptaker of heat pumps)
4) Agree that turning off wind farms is crazy, but implementing massive energy gas storage is a critical solution to this. "Oh no we closed our last big gas store.... oh let's store CO2 in it". Scientific thinking seems to be disconnected in Westminster.
5) The reality is we cannot afford to go green, but also we cannot afford to not go green. This dilemma seems to be a problem in Westminster, We can never afford to solve our future problems right now in this tax/charges environment, but if we change the tax/charging environment we will see that we have to change our futures right now.