Member Info for Digitalis

Good luck Dibs, I agree there's no rationale for this drop. The FTSE100 and rest of the market is just having a panic moment. The FTSE100 is up 1000 points since April 2024, it was due a correction, this is just the trigger. There will be a bit of profit taking, the press with shout about a crash (not really) and then it will recover - in my not very helpful opinion

Https://www.en.kefm.dk/news/news-archive/2025/jan/the-danish-government-invests-in-more-offshore-wind-and-green-hydrogen-

New initiatives on offshore wind and hydrogen

The Government will initiate the preparations to publish a 2-3 GW offshore wind tender this year.

The aim is to conclude the tender in the spring of 2026.

The Government and the parties behind the former political agreement agrees to cancel the ongoing 3 GW offshore wind tender in the inner Danish straits.

The Government will provide an amount at DKK billion scale to enable the establishment of hydrogen infrastructure from Esbjerg to the German border. Furthermore, the booking capacity will be reduced to 0.5 GW.

Preparations to ensure hydrogen export by 2030 are already in motion. According to plan, it is possible to expand the pipeline towards the north and east of Jutland at a later stage. The Ministry of Climate Energy and Utilities will initiate a process to develop a plan for the next phases.

It has not been possible to ensure the legal framework in order to continue with the next phase of the establishment of the Bornholm Energy Island. The discussion on how Denmark can support the German need for green electricity will continue when a new German Government is in place.

Https://www.windpowermonthly.com/article/1904246/australias-hydrogen-pipeline-shifts-electrolysis-option

I'm hopeful that with the product approval being announced ITM might get some of these

Published by the Australian government’s office of the chief economist, the report says the shift happened “as expectations around hydrogen’s place in the energy transition have matured”.

Of the 69 projects under development, 64 will use electrolysis to produce green hydrogen; two will use a combination of fossil fuels and electrolysis; and three will be based on fossil fuel.

The number of projects under development has fallen from 76 in 2023 but the number of committed projects has doubled over the year from three to six, and total capex more than doubled from A$234 million ($146 million) to A$520 million. Ten projects are undertaking or have completed front-end engineering design (FEED).

Among the projects committed are the Yuri renewable hydrogen to ammonia project in Western Australia and two projects in Victoria: Geelong New Energies Service Station Project and Hydrogen Park Murray Valley.

In Queensland, Fortescue’s Gladstone PEM50 aims to produce 8,000 tonnes of green hydrogen using proton exchange membrane electrolyser technology and energy purchased from the grid.

The Gladstone and Geelong projects reached final investment decision in 2024 according to the report, and all these projects are due to start commercial operation in 2025, according to a database of projects published alongside the 2024 report.

The database shows that six hydrogen plants of various sizes are expected to start up each year until 2030. A majority of the projects have hydrogen as their main product but 15 of them are planned to produce ammonia, according to the figures.

The hydrogen projects are most often sited in Western Australia (20) and Queensland (18). Other states host fewer sites, with ten in South Australia, seven in the Northern Territory, six in Victoria, six in New South Wales and two in Tasmania.

In the interests of not keeping that particular thread title going...

I would hope zero % of buys/sells are based on the messages on this board. One should not be making serious financial decisions based on the random musings of strangers with motivations unknown

Wow. As I said we don't need more conspiracy theories. Spicy may or may not be another doppelganger, I have my own suspicions. But the questions were polite so I answered them. Nevertheless please go back and read my previous posts, there's only 18 others. Please don't slander me on a public platform.

Lol, don't think we need more conspiracy theories.

Well, this is AIM which as I said in one of my earlier posts is a gamble - and as my Dad always used to say to me "only gamble with what you can afford to lose"

Yes I mean I don't recall confirmation it was Linde the dispute was with before today - but I had seen that there was a dispute with a customer.

I already said what my thoughts were, I didn't expect it to - it is backward reporting mainly everything we already knew with some good tidbits we didn't know such as the closure of the dispute and a better view of pipeline. Do I think there are good prospects for ITM, yes, as I said. Do I think the market shares my view - no idea, I'm not a telepath.

Do I think that some steady solid orders with sustained acceptable delivery will lead to the SP rising - well it would be perverse if it didn't. But as Bilbo is fond of repeating - until the cashburn is down to zero and we start to see sustained profit coming in, we will probably continue bouncing along the bottom, i.e. asset value, which is where we are. I maintain, though, I see potential so why crystallise losses now and try to guess accurately when it will turn? I refer back to my favourite quote attributed to Niels Bohr.

Not sure if we knew it was Linde - Dennis did announce that work was ongoing with some customer disputes over delivery - and was related to the drive the improve FAT from 50% to 98%.

That was a good update that it had been resolved - whatever it was.

HarshTruths, I have enjoyed the various exchanges between you today and other posters and if my suspicions are correct your various posts under other guises over the last few weeks. I have fond memories of our Harry Potter themed exchange and more generally get lot of amusement from posts similar to yours and the likes of Luck and Jeff putting forward the counterpoint. Brightens up otherwise dull days over winter.

Your perfect 20:20 hindsight is indeed accurate unsurprisingly. I invested a bit here at around £3 because I thought it was a good long-term investment. It is 90% down. I topped up a bit at around £1 because I still believed it was a good ,long-term investment, that is down c60% and I topped up a bit more around c48p because I still believed this is a good long-term investment. As Bilbo was fond of saying a few years ago, I thought it was a good investment then at that price, why wouldn't I think it is a good investment now? In fact as I said in a previous post, I do think it is still a good investment now, I just wish I had room in my ISA to top up at these prices. I have invested in this stock because I believe Hydrogen is the solution to the issues faced on reducing FF and developing a circular economy and bolstering the Electricity Storage and dispatchable options we are faced with.

While some of your hindsight questions/points are valid, I am still here is a conviction LTH. The areas I was interested in forward guidance and cashburn have come back positive in the update as I said I would be looking at. The pipeline bodes well for the future. It never ceases to amaze me how two people get review the same information and reach different conclusions but nevertheless, here we are.

To close, I said this update was unlikely to have significant impact on SP which Bilbo seconded. It is looking at last year with a bit of stardust for the future. I happen to believe the stardust will materialise. Which of us is right only the future will tell.

"predictions are hard, especially about the future" - Niels Bohr

"don't have a good day, have a great day" - FreeGuy

I think we knew about the 8MW

https://www.lse.co.uk/rns/ITM/capacity-reservation-cm5c3yeglb8p89o.html

Still a lot to like in the update

Thanks Bilbo, saved me doing so

ITM would be cash positive in no time, time to diversify

Yep, I read that and just had Professor Quirrell saying "troll!, troll in the dungeon....I thought you ought to know" going through my mind.

Also "predictions are hard, especially about the future"

On a more serious point though, I'm not convinced the trading update will move the dial that much as it is reporting up to end August 24 - the contract news has come through after that and is already baked in. So I'll be looking at cash burn and whether there is any forward guidance of note. I think it is the next update that will be more significant for sp. I just wish I had some spare room in my ISA to top up at the moment.

@Bilbo, I believe Constantine is referring to the LinkedIn post about the skids being delivered to Lingen and that the stacks themselves for the first 100MW should be being collected soon.

Not new news but at least progress on delivery and presumably we will start to see some revenue coming in as the contract is being fulfilled? Which would be nice.

Https://www.gov.uk/government/consultations/funding-mechanism-for-the-hydrogen-production-business-model-proposed-design-of-the-gas-shipper-obligation

The sound of a penny finally dropping

"The hydrogen programme, and electrolytic hydrogen production in particular, could offer wider system benefits, such as from hydrogen providing long duration energy storage and reducing the cost of operating the electricity network (by reducing network constraint costs associated with electricity supply). We expect these benefits could significantly lower the cost of a future decarbonised power system in the mid-2030s."

This is the first time I've seen the Gov't recognise that Energy storage to balance Electricity is required and Hydrogen is a vector for this. Those of us working in the electricity industry have been trying to raise awareness of the fragile state of the Grid currently and lack of dispatchable capacity when Dunkelflaute is in play for some time and being accused of trying to preserve FF use. Seems as if this is finally getting noticed.

I'm sure I remember Bilbo questioning the value of the Linde partnership and what their sales team were doing (or more to the point, not doing) almost as long as I've been watching this board. Certainly before Graham left. While Dennis coming onboard seemed to initially indicate positivity regarding Linde, he seems to have been more interested in forging new partnerships and developing the Neptune - so diversifying away from Linde.

For myself, I'd discounted the Linde relationship already until it actually delivers something. But I'd seen many more positives in everything else that has been done under Dennis' stewardship. The only thing that I agree with is that it makes no sense the SP being stuck at around Cash with no recognition of any other value in the business - but that is what it is. But then if we didn't like a gamble we wouldn't be investing in AIM companies.

Landmark start to 2025 with type approval/certification from 11 European licensing authorities

JCB have cleared significant hurdles in their development of the world’s first hydrogen combustion engine after securing landmark rulings from licensing authorities allowing it to be used commercially in machines, the company announced today.

https://fuelcellsworks.com/2025/01/10/energy-policy/jcb-hydrogen-engine-approved-for-sale-and-use

I'm a novice so by all means take my comments with a healthy pinch of salt - but I wouldn't be worried at all unless it was my short. There's far more risk to a short position of an uptick than any benefit of further gains in the short of the price falling further.

In and of itself the short holding in m y opinion doesn't impact the SP any more, it did selling the shares as it went down, now it is down, then buying shares to exit the short would if anything increase the SP certainly shouldn't drive it any lower.

Thanks Alpha-dog

Is this new news?

https://www.gov.uk/government/publications/low-carbon-hydrogen-supply-2-competition-successful-projects/low-carbon-hydrogen-supply-2-competition-stream-2-summaries-of-successful-projects

Gigatest

Led by ITM Power (Trading) Ltd

Contract Value: £7,709,749

Gigatest will be an enabler for ITM Power to accelerate both the commercial development of its 4th-generation Proton Exchange Membrane (PEM) electrolyser stack, and its new Gigafactory manufacturing site (located in Sheffield). Through this project ITM Power seeks to commercialise the lowest-cost green hydrogen solution on the market, supporting rapid decarbonisation in hard-to-abate sectors whilst also strengthening the UK’s leadership in clean energy technologies.

As part of Gigatest ITM Power will build its first 4th-generation electrolyser stack. This follows conceptual designs developed through previous BEIS funding competitions. Following construction, the stack will undergo rigorous testing in Sheffield in representative conditions to validate the performance and in a 4MW field trial at a commercial site to validate the technology in real-world conditions, ensuring the technology is ready for large-scale commercialisation. ITM Power’s 4th-generation stack has multiple advantages over current competitors including: lower capital costs, higher current density, and a smaller physical footprint for the system. These advantages will greatly enhance the stack’s ability to operate under flexible conditions when coupled to renewable energy, therefore producing green hydrogen at the lowest cost on the market. ITM Power is confident the 4th-generation stack will be globally best-in-class, offering multiple advantages over other technology platforms, and aims to establish it as the mainstream green-hydrogen solution in the UK and global markets.

Furthermore, Gigatest will be critical to ITM Power for deployment and validation of key manufacturing equipment at its new Gigafactory. This will contribute to the enabling of semi-automated mass-production processes suitable for the components of the electrolyser stacks. ITM Power’s new Gigafactory will be crucial in ramping-up green hydrogen production in the UK and establishing the UK as a global export leader of electrolyser technologies. Advancements in manufacturing techniques and equipment through Gigatest will allow ITM Power to realise a manufacturing capacity of 1GW/year by 2024 whilst maintaining the highest quality standards for the 4th-generation stack.

Gigatest will make an important contribution to the UK’s 2030 hydrogen production target of 5 GW and to securing highly skilled manufacturing jobs in the UK.