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Initial in was at 12, caught 5.49 yesterday to average down nicely. Tucked away, headphones on to calm the noise, and hold.
ITM got downgraded this morning, ****************************/rns/announcement/6f05860f-a331-46ec-8f21-ef678f9e0deb/ highlighting I think the huge disparity in caps, ITM £700m vs PHE £20m. Know a few who have taken ITM profits and put into PHE as a result.
From Vox just now
Abstract:
ITM Power has reported H1 figures (period May-October) which were below our forecasts. Total income was down 24% at GBP 3.8m due to lower grant income and grants receivable for capital projects. Sales, however, were up 100% at GBP 2.4m showing that ITM is gaining traction in the market. The loss from operations increased y/y from GBP 5.3m to GBP 9.8m. The figures do not overshadow the transformative GBP 58.8m capital increase, of which Linde took 20%, and the formation of a joint venture with Linde Engineering to deliver green hydrogen to large scale industrial projects. ITM is building an electrolyser production site with a final capacity of 1,000 MW. The factory will be the largest electrolyser production site worldwide and will start operation at the right point in time, after many countries (e.g. South Korea, Germany) have significantly increased their support for green hydrogen. Although we welcome ITM's positive strategic development, we believe that the valuation is too far ahead of the company's commercial progress. ITM is currently valued at almost GBP 760m, which is very high even if 2022 revenue reaches our forecast of ca. GBP 50m. An updated DCF model yields a new price target of GBp 105 (previously: GBp 60). The share price has roughly multiplied eightfold since we initiated coverage in February 2019. We downgrade the stock from Add to Sell.
Committee on Climate Change report "Net Zero - the UK's Contribution to Stopping Global Warming" released yesterday.
"The difference in the role for hydrogen in our Core scenario (that would broadly deliver the UK's existing emissions targets) and our Further Ambition scenario (required for a net-zero emission target) is striking. Low-carbon hydrogen moves from being a useful option to a key enabler. Updates to policy alongside adoption of our recommended target should reflect that."
https://www.theccc.org.uk/2019/05/02/phase-out-greenhouse-gas-emissions-by-2050-to-end-uk-contribution-to-global-warming/
Bidstack really are in the right place at the right time, reckon there will be others jumping on the bandwagon following the apple and google news, but as James said we are well ahead of the rest.
In this industry at the moment the current revenues are meaningless, it's a bit like judging a supplier to a new supermarket while that supermarket is still being built.
apple arcade, Google Stadia are our supermarket, and the recent appointments have the experience to get us in them.
The actions of Align over the last couple of days have clearly shown that their primary focus is on their own profit, shareholders in companies they "research" come quite some way down the list.
I'd be wary of any content on their site.
"...Capital thinks revenues will hit £1.7 million in 2019, £3.5 million in 2020 and £6.5 million in 2021, the year the company is also expected to break even. Capital adds that Itaconix could hit £100 million in revenues by 2029."
https://www.standard.co.uk/business/market-minnows-itaconix-market-minnows-itaconix-is-tapping-into-investor-demand-for-ecofriendly-a4106116.html
Howard White of W2T just met with Permina, the state oil/gas company, who are actively researching waste to hydrogen and waste to energy.
https://www.eni.com/en_IT/media/2019/01/eni-and-pertamina-sign-memorandum-of-understanding-to-cooperate-in-the-areas-of-circular-economy-low-carbon-products-and-renewable-energies
"Indonesia is second only to China as the world’s largest contributor to plastic pollution. Between 1.15 million and 2.41 million tons of plastic waste contaminate the oceans each year. Of this, Indonesia is estimated to contribute roughly 200,000 tons of waste from its rivers and streams. Plastic pollution in Indonesia has become a huge nuisance."
"In order to halt plastic pollution in Indonesia, it is important to alter the country’s land-based waste management system. The government has committed to allocating $1 billion a year to drastically reduce the amount of plastic and waste products contaminating the country’s water sources"
https://borgenproject.org/tag/plastic-pollution-in-indonesia/