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What just happened did someone sell a chunk?
It interesting that Dennis has now got some better announcements some 6 months since he announced the new strategy. While I think it is on the right track I'd like some other customers to come on board.
I note that China has just built a 10,000 tonnes green hydrogen storage facility ( yes 10,000 tonnes). https://hydrogen-central.com/longi-chinas-first-10000-ton-green-hydrogen-refinery-project-starts-operation/.
Despite a good lead and access to the best technology the UK goverment has managed SF All https://www.energylivenews.com/2022/12/19/uk-must-take-action-on-hydrogen-storage-before-2025/ and needs to start building
See "Dennis Linkedin" below, it is the new Engineering block with additional testing. Thus freeing up the main block for Production. There is also a new site in Germany, but I'm pretty sure it is just a rental for 50 people
Ah, sorry, my bad. Some large share buying last night was my interest. It seems to have had a result on share pricing this morning. I hope it hurts the shorters as well
Some big orders picked up today. Feel positive, but for an installation probably into 24. The planning process is too slow for a world hitting 50c on the three continents.
The RNS has finally given us an ORDER!!!!!!
ITM Power contract award towards 100MW project in Germany
ITM is delighted to announce the award of a contract for the procurement of long lead-time materials and components required for the manufacturing of our state-of-the-art MEP30 skids for a 100MW project in Germany.
The Final Investment Decision (FID) is aimed to be taken by our customer in 2023.
Dennis Schulz, CEO ITM Power, said: "This order is an important endorsement of our technology and capability to deliver projects at scale. It will be the third 100MW project we are entrusted to execute."
For further information please visit www.itm-power.com or contact:
Https://fuelcellsworks.com/
operates a good weekly roundup of news by email if you are interested.
I hope they don't mind the core of their article this week which is very positive
"The hydrogen fuel cell industry's news cycles this week felt like an orchestration of innovation, each development resonating the industry's unwavering dedication to an emissions-free future. There was an underlying theme that tied these developments together: the consistent and rapid growth in the production and implementation of hydrogen fuel cells.
Bosch made a daring move by announcing their plans to begin manufacturing fuel cell power modules, with a target sales goal of €5bn by 2030, setting the tone for an energetic start. Simultaneously, Toyota made a powerful statement with their ambitious aim of selling 100,000 hydrogen fuel cells by the same year. Their strategic shift towards targeting Europe and China as key markets reflects the increasing global interest in adopting hydrogen-based solutions.
In a captivating duet, Nikola and BayoTech formed a partnership emphasizing expedited delivery of zero-emission hydrogen - playing into the larger story of collaborative efforts within the industry. This harmony is echoed across continents; Sarawak showcased strong aspirations in hydrogen production - portraying an Asian element infused into this worldwide symphony.
No symphony can be complete without its exceptional crescendos supplied by Hyzon Motors' achievement in creating a 200KW single-stack fuel cell system. Comparable to triumphant fanfare, it exemplifies technical advancements while showcasing immense potential for using hydrogen as fuel."
"Rapid progress on our new build next door in Sheffield, which ITM Power had announced just in April this year. We are on track for handover of our second factory in just a few months’ time.
This will allow dedicated space for R&D and product validation activities including science labs and first-of-a-kind product testing facilities, while also enabling us to optimise our factory layout for stack fabrication from a layout which evolved over time for one that is highly optimised for automation and serial production. It also provides increased fabrication space for higher stack volumes, allowing ITM to grow output in line with commercial projects."
plus photo of large steel factory, first floor screeded, no lights in roof, all doors in and some specialist foundations going in.
I think Bernie is an idiot, this question is straight out of Climate Change 101, "we don't want to live in a green house", which part of Climate Change doesn't he understand.
"limitless....." (clearly the DT doesn't understand the idea of a planet)
do you remember when the Russians theorised that the centre of the earth was not a magma but oil.
Since the source of this idea is the DT, I'll put the champers back in the fridge.
Https://www.hydrogeninsight.com/electrolysers/unacceptable-performance-itm-unveils-new-strategy-with-staff-cuts-exit-from-hydrogen-refuelling-and-biggest-ever-electrolyser-order/2-1-1395972
for any newbies who missed it
"It’s like bidding farewell to a family member watching our stacks leave our factory and head to Norway, where they will be installed in Yara International's 24 MW plant in Porsgrunn.
After the RWE 4 MW pilot in Lingen, this marks the next real-world shipment of our MEP30 stacks into active customer projects.
I am so proud of the progress we’ve made!"
Plus photo of truck full of wooden boxes
Https://www.investormeetcompany.com/
27 July at 9am, be there or be square
The question is more does it make any sense to move to domestic heating with H2.
Piping and burning h2 is easy to do and frankly if the pipes can handle 20% they can handle 100%. After all they have been tested pretty well by now in a number of sites in Europe and at Keele University accomodation. This latest experiment was more of a "keep the nimbies happy".
Since we are still using blue hydrogen throughout the country, the low hanging fruit to maximise sales of Electroysers is already there. That Linde are not accessing it is more to do with their own sales of blue hydrogen which are in the way.
Well this seems to have stabalised. Interest rates at 4.25% are always going to be a dampner on a hgh leveraged business. However I'm not really sure why the company needs a float of cash at 123million when last year it only dealt in 45 million assets. I think better management of cash would be a better way of raising the overall share price.
The Leeds/Kirklees area carried out external insulation to a very high standard about 15 years ago to 100,000 properties. Just by doing it in volume the prices fell from £20k per large house to £12k per large house (I know, 'cause I asked for our house and got it, for free, as part of the experiment).
Meanwhile, our friends in Germany had the same. Since then the project continued in Germany.
In the UK it stopped so we lost 15 years
In Germany they discovered that a tyoe of insulation was dangerous on some large blocks of flats, so they removed them and re-did them. In the UK, well we don't read foreign papers and cannot learn from abroad.
Due to higher take up of large area heating, electrical heating, great insulation and heat pumps, the Germans don't heat their homes as much as the Brits do. So while there is a bit of complaining the country has capability to move away from both Methane and green-hydrogen for heating.
Meanwhile the UK still has Shell and BP in the "expert" fold advising the O level educated Grant Shapps on energy solutions. Makes me want to tear my hair out!
Ah you said a read, so I was reading the French subtitles
Your link leads to a French Covid conspirator chattting, do you mean this?
Https://www.economist.com/business/2023/07/03/can-a-viable-industry-emerge-from-the-hydrogen-shakeout
once again points out that long hanging fruit for Green hydrogen to win market share is firstly from Grey hydrogen, then steel, gas central heating (the UK gov's bright idea) is so far up the tree as to unreachable and pretty dumb