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Troublesome the article rebadges what I said with some pretty pictures. My date came from the ONS too here:

https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/economicinactivity/datasets/economicinactivitybyreasonseasonallyadjustedinac01sa

So the economically inactive they are after are the million lazy people aged 50-64 who worked out during COVID that they had enough money and quite enjoyed being at home not working. So why go after the long term disabled and deprive them of a benefit that helps them navigate a society actively not designed for them with expensive food for those who need high calorie diets, or unsafe public transport for those prone to blackouts or poorly designed travel routes for those with mobility difficulties? And isn't even a work related or means tested benefit?

I said this at 6.42

The only certainty from today was a proposal for CAPEX. Be a different story if/when any of the customers they are talking to, sign up.

Which I think is broadly what you said, the bit I disagreed with was that the RNS reaction was why the SP was lower. The market just went "meh" as I saw it.

Good luck trying to set one up with the broken digital Director proof of identity process once that becomes obligatory in the Autumn. Typical "improvement" that doesn't work.

On the costs and where the money is coming from, I've been asking all day.

On the FIDs, nothing new here.

On the SP not sure that is a valid conclusion, it is trading in the channel it has been for the last 3 weeks since all the other pre-FID were priced in.

Confirmed orders on both ventures would be welcome.

Who are the 6 million lazy people?

Is it the 2.4million students? roughly 50/50 men/women

the 1.6million people looking after the home (majority 84.5% women)

the 170 thousand temporarily sick (58.8% men)

the 2.8 million long term sick (53.5% women)

the million retired (55% women)

or the million not working for other reasons (52%women)

If it is the students then I guess that will save them £50,000+ of debt for a job paying less than median salary,

if it is the home carers not sure how that can be achieved.

the short term/long term sick, well let's get them better if possible by enabling them to actually see a GP and get treated

the retired? no rest for the wicked, out to work they all go

the others? definitely, they should be working regardless they want to enjoy the wealth they have managed to accrue before they become too old or ill.

How about instead of demonising other people living their lives the best way they can, we get rid of the half million parasites in Whitehall achieving nothing, that will improve productivity at a stroke.

Why? The only certainty from today was a proposal for CAPEX. Be a different story if/when any of the customers they are talking to, sign up.

Hi Jeff, I think that is overestimating output by 2-3x, cost is probably about £5-6/Kg but needs clarifying. Who is absorbing the opex for production, Hydropulse or customer? If Hydropulse that will mean longer time-frame to recover OPEX meaning more investment is needed to get to a annual cash-positive position covering the cost of cash outlay (if it is loans, the loan repayment amount?. I think these are all valid questions to ask.

framing my expectation, I don't see this as immediately positive, it is a multi-year slow burn to success (same as amazon, uber, airbnb, where initial income has to be re-invested to grow the business)

Thanks tennents - but if the user goes bust or procures from somewhere else (hydrogen doesn't have a moat)? Can the assets be re-used? otherwise have to write-down to zero ultimately so the rental cost will need to cover the CAPEX over lifetime, which will impact the competitive value of the H2 making alternative procurement a possibility.

Hmm

So it looks like a rental model, so how re-usable are the assets if the off-taker decides to no-longer rent? Can Hydropulse remove and re-install the assets at a new customer? What is the asset depreciation?

Will there be a hire-purchase model?

Where is the initial seed funding and CAPEX coming from, how much? Is there going to be full internal accounting, so Hydropulse will buy the assets from ITM Power thereby showing ITM as profitable but wholly owning Hydropulse which has liabilities plus operational income?

Will hydropulse be able to seek a rights issue to be spun out from ITM Power in the future?

This feels like an Uber play - build the infrastructure which has massive cash consumption requirements before profitability is reached for Hydropulse - it worked for them, eventually, but...

Hi Jeff, to add buried in one line I think was the announcement of a HAR4 round

I think that is irrelevant to me - it is relevant to the shorts but not me. They haven't seriously moved to close at the moment so the share price needs to go up a bit more without them doing anything. By the time it does that, whatever the shorts do doesn't matter. I think this is probably mainly semantics and just a different way of looking at things.

Hi Satellite, because the share price wasn't going to go any lower just because they were there unless they shorted some more and weren't really apart from some erratic Qube movements. The SP tripled and they hadn't budged apart from Qube trying to go deeper at some point.

Either they close or they don't if they don't they continue to pay rent and eventually get margin calls IF the share price rises further (without them doing anything).

So now, the sentiment is moving on up, as is the momentum as is the good news. Whatever the shorts do now makes no difference - that is why I and I think, Bilbo, think they are irrelevant and have been saying so for months.

In other topic, that's been a nice sight on the share price to start my holiday. Markets were closed when I took off and nicely up now I'm in apartment on wifi. Happy days.

Morning Pandy - not what I said. To repeat myself I said

"Indeed Bilbo, not the news I was expecting to wake up to this morning. Markets could easily use this as the trigger to take profits from the bull run again. If so could easily FTSE100 could easily drop 10% if it gets into a panic, could be a good opportunity to get some high dividend stocks on the cheap. Not making a prediction just saying when the markets wants a panic day it has one as we all know."

Clearly not saying it would happen, just that it could if. Take from that what you will.

A light-hearted post but nevertheless, listened to Andrew Lloyd-Weber this morning discussing the re-boot of Starlight Express and converting the trains to be running on Hydrogen. Amusing but also shows that the concept is getting out there in the public psyche.

Cash received and revenue recognition for accounting are two very different things - just in case anyone is unaware

@satellite, isn't that a contradiction in terms? Risk averse and Investor?

Morning AATH, Bilbo and I said similarly yesterday morning. It is interesting that the Goon Squad is out in force this morning trying to whip up hysteria off the back of it all. The RNS will have put a slight spanner in the works for their plans today. For anyone interested Tradegate is only 1.5p below the UT close last Friday allowing for currency conversion, hardly a panic move and just indicating uncertainty on how the market is going to react to all the wider geopolitical news.

Sit on my hands day today, not advice, anyone else can do what they want.

Indeed Bilbo, not the news I was expecting to wake up to this morning. Markets could easily use this as the trigger to take profits from the bull run again. If so could easily FTSE100 could easily drop 10% if it gets into a panic, could be a good opportunity to get some high dividend stocks on the cheap. Not making a prediction just saying when the markets wants a panic day it has one as we all know.

Be interesting, if that happens, to see whether ITM gets caught up or whether it holds position as people start to appreciate the need for home-produced hydrogen as you say.

Alternatively Troublesome:

"Never argue with an idiot, they will drag you down to their level and beat you with experience" - Mark Twain.

But if that is triggering with the US tax credits matter then how about:

"never wrestle with pigs. You both get dirty but the pig likes it" George Bernard Shaw - which might be better as it should make one think about the Ireland and GB gas grid tie-up to explore a Hydrogen interconnector.

In any case, echoing Tennents, have a great weekend. I'm really looking forward to next week (but that might be as I'm off on holiday)

0.145%

Thank you myoung, I though Yahoo Historical data must have been wrong, so thanks for confirming. Still a big chunk considering that it is about 1/3 of total volume. And is a nice round number of about 1.45% of float...I wonder if those declarations will go up or down Monday afternoon.