Member Info for Eastwood

When we attended the site visit - It was real I promise - It was mentioned that ITM are keeping an eye on the chat board for any recurrence of the "Nameless one" I would suspect that a word to LSE admin moderator team was had at the same time. This last part is in my own opinion.

Garonne wrote: "Dennis is a BS merchant as can be seen from the eroding shareprice. He promises the earth yet delivers only jam tomorrow deals. This is just a pure punt now as it's dependent on various governments enacting their green hydrogen policies to subsidize the roll out of electrolysers and with money in short supply this is becoming ever more precarious. The fact that Dennis doesn't buy any shares is a red flag."

I reached out to Justin, Garonne to confirm when people within ITM can buy shares that you keep on banging about. Justin replied with this.

There are specific closed periods when employees cannot buy shares. Under the Market Abuse Regulation (MAR), the closed period is 30 days before the announcement of interim or year-end results. In addition, there may be times when a company is working on something that, upon release, could be deemed price-sensitive. During these times, employees who are ‘inside’ are placed on a restricted list and are unable to deal.

Now with the above in mind, lets take a look at the RNS's since May 25

6th May - Westnetz NEPTUNE V contract.

8th May - Uniper 120MW project selection

9th May - Spanish cement NEPTUNE II contract

12th May - 300MW APAC OEM selection

9th June - Appointment of new Non-Exec chair

17th June - two unamed contracts

23rd June - Uniper 120MW FEED Contract

25th June - Launch of Hydropulse

8th July - Change of Non-Exec Directors

13th Aug - Morgen Energy 20MW Project

14th Aug - Preliminary Results

28th Aug - ABO Energy strategic partnership

22nd Sep -NEPTUNE V 150MW capacity reservation RWE

6th Oct - NEPTUNE V FEED HAR 2

21st Oct - Launch of Alpha

21st Nov- Selected for 710MW of projects in Germany

4th Dec - H126 Trading update

If this doesn't help you understand why people like Dennis cannot just go and buy shares then I don't know.

We are staying in the low 70s (I realise we could tip to the 69s easily) after what I thought was a decent trading statement.

I wonder if Qube was expecting a drop since they built up a bit of a position in the last few weeks.

If we stay this like then to me, it is literally waiting for a RNS FID or news of another Neptune sale or Hydropulse news. All my own thoughts of course.

To add to your message Bilbo, they doing all the below as well as the coming automation we saw walking around the factory. From the 31st of Oct 24 to 31st Oct 25, they used up £6m (Me reading October to October) This is tightly controlled cash spend when you see all the are doing.

I am still hoping for the Morgen FID to land as it said before calendar year end which leaves 27 days. 20MW FID would be how much cash in your experience being paid to ITM on FID?

72.40 UT. Lets see what tomorrows trading statement brings.

72.50 on L2 at the moment JacobJohn

The last time Garonne told us all to sack off ITM and put it all in AFC, they dropped like a rock.

I remember someone asking on the site visit about Ammonia crackers to Dennis. He said they have their place but if you wanted to be taken seriously it was not the way. That is my recollection, so happy for anyone who was there to correct.

Johanna Leisling Vice President Commercial | Business Development wrote the following comment to Dennis's LinkedIn post

Perfect momentum ... If you want to 🚀 🚀🚀 be there ...

Hey Seaangler,

No spicy used to constantly call me driftwood when typing his rubbish when I called him out on it. So I thought you were making a joke along those lines from when I said drifiting along. No need to be disappointed you and I are all good.

Haha oh boy, thats when I knew it was not worth talking to the guy Seangler. People resort to name calling when they start losing.

After just 50k of volume in the 1st hour and roughly another 45k in the 2nd hour, it has all of a sudden jumped to 761k of vol and the SP is sitting at 76.50.

Just mentioning as I thought it would be a drift along day.

Garonne, you can write to Justin at ITM, he is the head of investor relations and ask him the question. He is very good at responding.

Agree with Wookie that Dennis at the visit said he felt the share price was significantly undervalued. Dennis also stated on the day he cannot talk about the share price or anything related to the market due to insider trading etc.

An example being Dennis and Co would have know the 710MW was on the horizon and nothing was mentioned or even hinted at on the day which is professional to me. As some others have mentioned here this news alone should have pushed the SP higher.

UT was 73.8.

Volume for the day was 1.4m and closing auction volume was 1.12m. There was a rally to 74.4 in the last 30 min. Auction volume was high to me at 1.12m

Garonne, give it a break man. Dennis cannot buy shares in the company as it would be considered insider trading and a host of other rules. Think for a minute if he bought shares with his own money and then drops a 710MW RNS a few days later.

You are like a broken record over this, give it a break.

This one has got to hurt

Plug, Power

Plug Power Secures Crucial Financial Lifeline

24.11.2025 - 09:14:05

Plug Power US72919P2020

Plug Power Secures Crucial Financial Lifeline - Foto: über boerse-global.de

Plug Power Secures Crucial Financial Lifeline - Foto: über boerse-global.de

After weeks of mounting pressure over its financial stability, Plug Power has executed a dramatic turnaround. The hydrogen specialist's shares surged dramatically on Monday following news that effectively secures the company's near-term survival. This development comes as a direct response to recent investor anxiety and bankruptcy fears that had driven the stock to significant lows.

The primary catalyst for the explosive share price movement was the successful completion of a capital raise just before the weekend. Through the placement of convertible notes, Plug Power has secured approximately $399.4 million in fresh capital. Company leadership explicitly stated that this financing fully covers their current business plan.

For an equity that had been battered by persistent liquidity concerns, this represents a fundamental shift in trajectory. The immediate threat of payment difficulties, or even potential bankruptcy, appears to have been averted—at least for the present moment.

Strategic Balance Sheet Repair

Management outlined a clear strategy for deploying these newly acquired funds to strengthen the company's financial foundation:

Should investors sell immediately? Or is it worth buying Plug Power?

Elimination of High-Cost Debt: A loan carrying a substantial 15% interest rate will be completely repaid.

Asset Liberation: The transaction removes liens held by a previous lender, thereby freeing up corporate assets.

Proactive Refinancing: A portion of the proceeds will address convertible notes maturing in 2026.

Market participants are celebrating these measures as a critical financial reprieve. The risk premium that had been heavily weighing on the share price is now being rapidly reassessed, giving Plug Power the essential breathing room it needed.

The Looming Shareholder Decision

Despite this welcome relief, underlying structural challenges remain unaddressed. To ensure long-term strategic flexibility, Plug Power has scheduled a special shareholder meeting for January 15, 2026. The agenda contains one highly significant item:

Authorized Share Increase: The company will seek approval to double its authorized common stock from 1.5 billion to 3.0 billion shares.

This was the RNS from the 13th of Aug 25. There are 36 days left in 2025. I am hoping for an RNS in the next few weeks confirming this.

ITM Power is delighted to announce the signing of a supply agreement and binding heads of terms for a long-term services agreement with MorGen Energy for the 20MW West Wales Hydrogen project in Milford Haven, UK. This milestone marks a significant step in this project under the UK Government's Hydrogen Allocation Round 1 (HAR1). With permits secured and commercial terms with the project stakeholders nearing completion, the project is well on track towards Final Investment Decision (FID) and is expected to break ground before calendar year-end.

What is not good news?

Oh, you meant the 55MW to carlton power from HAR1...Oh don't worry I will wipe my tears away with the 710MW RNS that came through on friday last week.

Anyway HAR1

ITM have the 20MW Morgen Energy project under HAR1 - FID is meant to be annouced before the end of the year. (My thinking, DYOR)

ITM Power is pleased to announce that EDF Renewables UK and Hynamics, a 100% subsidiary of EDF Group, have selected us to execute a plant integration engineering package for Phase 1 of its North East-based Tees Green Hydrogen project.

The project, which is part of the UK's Hydrogen Allocation Round 1 (HAR1), has previously secured funding from the UK government's Net Zero Hydrogen Fund (NZHF) In July 2024, ITM announced a capacity reservation for four NEPTUNE II units, our full-scope 2MW containerised electrolyser plant, with an unnamed large utility company. Today's announcement is related to the capacity reservation, and the engineering package will cover the integration of four NEPTUNE II units with the balance of plant. 8MW (4x 2MW Neptune IIs)

So 28MW HAR1 that I remember without looking to hard. I am sure someone like Lucky will be along with his list of wins to help you out.

HAR2

Uniper 120 MW Humber H2ub Project

On 23 June 2025, ITM announced an RNS that it has signed a FEED (Front-End Engineering Design) contract for Uniper’s 120 MW green hydrogen project.

This project was shortlisted in HAR2.

ITM’s plan: deploy six 20 MW POSEIDON modules for this.

On 6 October 2025, ITM announced a FEED contract for a HAR2-shortlisted project based on multiple NEPTUNE V (5 MW) units.

The customer expects the plant to be operational in 2028, subject to FID.

120MW and how ever much multiple NEPTUNE V in other contract as it is multiple I am thinking at least 3. so lets go with 135MW HAR2 for now.

How well is AFC doing constructive? You told us all awhile back that AFC was going to beat ITM with its cracker techology.

Anyway I personally hope AFC do well, I want us all to winners.

I thought I would flag as it has a picture of the containers we saw on the factory floor.

https://www.linkedin.com/posts/gasworld-com-ltd_hydrogen-greenhydrogen-electrolysers-activity-7397678877814456320-IBaW?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAEkVmEBjNnbrZ4ELTSoemDjmg5c3rjXmsY

German engineering and project development company Stablegrid Group has chosen ITM Power to supply electrolyser capacity totalling 710MW for two energy infrastructure projects.

In the first project in Rüstringen, the UK electrolyser firm will supply a 30MW green hydrogen production plant based on Neptune V containerised electrolysers, and 680MW indoor electrolyser capacity is planned for the second one 🏗️.

They will operate exclusively for grid balancing and stabilising the power system, using underground caverns as hydrogen storage facilities to absorb discrepancies between electricity supply and hydrogen consumption ⚖️🔄.

Final investment decisions for the projects are expected in January 2026 and 2028 respectively 📅.

🔗 Read the full story in the comments below

https://www.gasworld.com/story/itm-power-wins-710mw-german-electrolyser-contracts/2168911.article/

I thought this made interesting reading and Joseph looks to be on track for an interesting career with ITM.

https://www.linkedin.com/posts/joseph-w-12b93522b_im-proud-to-share-that-i-have-successfully-ugcPost-7396908233266798592-m9JQ?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAEkVmEBjNnbrZ4ELTSoemDjmg5c3rjXmsY

I’m proud to share that I have successfully completed my Degree Apprenticeship with the University of Sheffield’s AMRC Training Centre, achieving a 2:1 Honours degree in Manufacturing Technology.

My dissertation, “Establishing comprehensive test equipment and methodology to analyse and determine the mean time to failure of PEM electrolyser stack designs,” was a challenging and rewarding project. It gave me the opportunity to deepen my understanding of process automation, system design, equipment engineering, project management, budget control and problem-solving. It also marked a shift from managing automation projects through integrators to taking ownership of in-house design, manufacture and validation — an experience that’s been transformative for my development as an engineer.

I’ve included a series of images that highlight key moments from this journey, with so many unforgettable experiences and opportunities stemming from taking the apprenticeship route.

I want to thank the AMRC Training Centre for their exceptional support and for delivering a course so closely connected to real industry needs. The practical focus and exposure to modern manufacturing have been invaluable.

Thank you as well to my fellow apprentices — it’s been a privilege to grow alongside you, and I wish you all the very best in your future careers.

Finally, I’d like to express my gratitude to ITM Power for their continued support throughout this apprenticeship and for trusting me with meaningful projects and responsibilities that have shaped who I am as an engineer.

I look forward to what the future brings, continuing to develop my skills, and contributing to the next generation of engineers with the same enthusiasm that has been inspired in me.