Member Info for JeffMills

Tradegate is only around 600-601p versus a 609p London close.

So after these RNS announcements and a £100m raise, the sp is only indicating around 1-1.5% lower.

That doesn't exactly scream panic.

The thing that stands out to me is the speed of this raise. Retail closed early and institutions appear to have absorbed £100m in a matter of hours.

Why the rush??

Oracle results are tomorrow. I'm not saying there's a link, but the timing is certainly interesting given how much the RNS talks about AI power and data-centre demand.

For me the key number is the placing price.

If this comes in somewhere around 600p, then institutions have effectively just backed the company with £100m at roughly today's valuation after such a big rise in sp in short period.

Tomorrow morning should be interesting.

Helikon finally trimming their position — after years of sitting on it. That says a lot. Feels like the shift everyone’s been waiting for is actually happening now. Wouldn’t be surprised to see this push through £1 this week.

As for the other two, I don’t really see them as proper shorts. They trade more like spread bets — in and out constantly depending on sentiment.

Helikon, on the other hand, were dug in for years. Proper position. And even after all the strong news flow and constant RNS throughout 2025, they didn’t move.

Feels like the penny’s finally dropped.

Possible there’s news re their electrolyser with Shell?

Haha fair enough — didn’t mean to ruin the theory that the share price 10x’d because they sold a few more leather seats.

I’m only comparing government backing of early-stage energy tech. If you don’t see the parallel, no worries — we’ll just see how it plays out.

I think you might be confusing Rolls-Royce the car brand with Rolls-Royce the engineering company.

The listed Rolls-Royce isn’t a luxury car business — that’s owned by BMW. The Rolls-Royce we’re talking about is aerospace, defence and power systems, and the SMR division was basically a new energy venture that was loss-making and years away when the UK government backed it.

So the comparison isn’t about size or brand, it’s about the setup:

early-stage energy tech, government backing, long timelines, loss-making during build-out, then contracts and rerating as the pipeline becomes real.

That’s why the RR example gets used. Not because they’re the same company — but because the **market behaviour around government-backed strategic tech is similar**.

??

Very excited! Hi guys — patience has been key here and this is how these things usually play out. It feels like it’s starting now.

Back in November 2021 the UK government put £210m into Rolls-Royce SMR. At the time RR was roughly around 140p and sentiment was terrible. Losing money, years away, dead sector — same arguments you hear now.

Fast forward to today and RR is around ~1270p–1300p+. That’s basically a 9x from when the government stepped in. And they still weren’t making money from SMRs — the rerate came because the market started pricing in the ramp and strategic backing.

Once the government backed it, suddenly nuclear became “strategic”, SMRs moved forward, approvals started, sites started being discussed, international interest followed. The whole narrative flipped from “years away” to “this is happening”.

That’s why I don’t worry about profitability yet. These things rerate before profits, not after. RR is the perfect example.

!!!!

ITM’s first FID of 2026 signed — 20MW, likely HAR1. Not massive, but it’s movement. And if we’re jumping ~9% off a 20MW FID, that tells you everything about how starved the market is for confirmed progress.

Now it’s just a waiting game. What hits first — a big Hydropulse contract or a proper large-scale FID? If that ~300MW South Korea one materialises (where all signs seem to point), that’s a different league entirely. Even a 100MW+ FID would change the narrative overnight.

If 20MW moves the dial like that, imagine what triple digits does.

For me, we get at least one meaningful one before summer. It’s just a question of which lands first.

Really good news. This is one factory, one customer, one funded project, turning straight into a £10m+ electrolyser order with clear delivery. The market values certainty and execution, and this shows green hydrogen demand is real and happening now.

This is just one factory, yet it already supports a £10m+ contract for ITM over the next 12–18 months, and it highlights why green hydrogen isn’t optional for heavy industry — it’s necessary. Processes like steam and high-temperature heat can’t simply be electrified at scale.

Remember, management explicitly talks about momentum building in Europe, Germany leading on infrastructure, and HAR1 projects approaching FID. Dennis doesn’t make statements like that unless he’s confident; he’s historically been cautious. I remember when he first came in, he was very clear that inflation and policy uncertainty were slowing the sector down — this is a clear shift in tone.

It’s only a matter of time before we see a Hydropulse contract or a HAR1 FID land. The share price was around 35p this time last Christmas, so the recovery over the past year already reflects improving sentiment. Hopefully we can get back to 70p before the 25th, but looking further out, next Christmas well north of 140p wouldn’t surprise me at all. Volatile, yes — but it’s been a genuinely positive year, and the sector backdrop is clearly improving.

This feels like classic click-bait. There’s been no negative update from the company — quite the opposite: record H1 revenue, narrowing losses, reaffirmed FY26 guidance and projects progressing to plan. Dressing up a routine model rollover as “higher expected losses” creates a headline, but it’s not driven by any new facts from the business.

How would he know this? There’s been no new data from the company to support higher legacy contract losses or weaker cost absorption. On the contrary, ITM just reported record H1 revenue, narrowing EBITDA losses, reaffirmed FY26 guidance, and confirmed projects are progressing to plan. This reads like a mechanical model rollover with more conservative assumptions presented as insight — opinion, not evidence.

S&P 500 heads for biggest gain in nearly 6 months following rebound from AI rout.

Germany is burning €2–3 billion a year on redispatch just to keep the grid stable. These hydrogen projects are designed to cut those costs by acting as flexible, grid-friendly loads that absorb surplus power before bottlenecks hit. So no, this isn’t some small company footing a massive bill — it’s strategic infrastructure that basically pays for itself through avoided redispatch costs.

They wont be the one company writing a giant cheque — it’s project-level financing with banks, funds, grid operators and government backing. Stablegrid is the developer and engineering lead, not the sole payer.

Come on — if Stablegrid couldn’t fund a project of this scale, ITM and Dennis wouldn’t be anywhere near it. You think they’d stake their reputation on a partner who can’t afford to deliver? These deals go through layers of due-diligence long before they’re announced.

710 MW announcement in Germany is exactly the kind of scale move I’ve been waiting for. Let’s retest 100p in the next week.

If you’d really been holding since 2006, you’d be the first one pointing out how green hydrogen has gone from niche science-project status to governments and utilities fighting over 100+ MW projects. To claim nothing’s changed after 19 years makes it pretty clear you haven’t actually been invested.

Yes — I agree that Bloom’s valuation (~US $30 billion) underscores the potential in the fuel-cell / stationary power market. But it’s worth remembering that when you compare their current scale, the smaller player (Ceres) is already being valued at a similar multiple of revenue (or perhaps even higher) despite having much lower absolute revenue. So the upside (or risk) is larger. If Ceres is already on that multiple, then the expectation for growth is even more aggressive

Always kept an eye on Ceres as an investor in green hydrogen. This news might not be directly about green hydrogen, but it’s great for the sector overall — because once green hydrogen is widely available, this is exactly what’ll be used in the fuel cells from companies like Ceres. I’ve got to say, the share price is holding up really well considering the sell-off in the US yesterday. If we see a bounce back in the US after 2pm today, you can only imagine where this could go. Congrats to all the shareholders!