Member Info for JeffMills

Just a reminder we’re still waiting on the 300MW FID, which last time I checked was looking like South Korea, backed by government funding.

This new Ceres x Doosan announcement — 50MW/year solid oxide stack production — lines up with that.

ITM could benefit if hydrogen supply infrastructure is part of the buildout. If fuel cells are scaling, PEM electrolysers come next.

As we know, Uniper’s already selected ITM for their 120MW project. What you may not know is Uniper are working directly with Repsol on the Flotta Hydrogen Hub in Scotland. So there’s already a working relationship in place between those three parties. If Uniper’s backing ITM and co-developing with Repsol, it’s a short logical step for Repsol to look at us for their Spanish hydrogen projects.

https://www.nstauthority.co.uk/the-move-to-net-zero/projects/flotta/

It’s possible, but nothing has been officially announced yet. Here’s the key point: Final Investment Decisions take time, especially when they’re heavily influenced by government subsidies. So when someone criticises a one-year timeline as a “disgrace,” it’s important to highlight facts like this to show just how misinformed—or deliberately misleading—they’re being.

spicy says “nothing’s happening, it’s been over a year and still nothing from the itm 500mw reservation.” yet here comes repsol, only now finally entering fid, despite the projects being paused as recently as late 2024 due to regulatory roadblocks.

plain and simple: repsol just tipped them into fid territory — and that’s the exact trigger itm was waiting for. so yes, it’s now ******* happening, and spicy might want to update their timeline.

Repsol’s 350 MW of green hydrogen electrolyser FIDs in the next 10 months are mandate‑driven, tied to refinery decarbonisation projects in Spain.

ITM’s 500 MW reservation is described as for a global industrial client (likely refining sector), planned over Europe/US — fits the same profile: industrial, refinery decarbonisation, policy-led timing.

So we should expect a x2 100mw contracts shortly.

"FIDs are expected by the end of this year for two 100MW facilities in Cartagena and Bilbao, with a 150MW electrolyser in Tarragona scheduled for decision in the first half of 2026."

"Repsol CEO Josu Jon Imaz confirmed the company is targeting 600–700MW of green hydrogen capacity across its refineries by 2030 — driven by subsidies and new EU rules requiring 1% of fuels sold by 2030 to be of renewable non-biological origin."

And yet you still have people asking, “But why would they use green hydrogen when it’s so much more expensive than fossil fuels or blue hydrogen?” As if these companies are doing this for fun or chasing lower margins. They're not moving into green hydrogen because it's cheap — they’re doing it because regulation is forcing structural change.

Repsol just announced it plans to take final investment decisions (FIDs) on three green hydrogen electrolyser projects totaling 350MW within the next ten months — notably driven primarily by regulatory mandates rather than cost competitiveness.

As has been said many times (though it seems to escape some), we’re right on the cusp. Of course FIDs were going to lag while governments moved at their usual pace — but now that mandates are finally coming into place, the dynamic is shifting fast. We’re likely heading into a phase where we see a new FID announced nearly every month.

Very exciting times — the real acceleration is just beginning.

Sorry!! I didn’t mean to directly quote that — “making such an impression on the market” is what he said. “Serious market traction” was just my interpretation of it.

Eoin Hughes (Head of Production Engineering at ITM Power) just posted that Neptune V is gaining "serious market traction" — enough that they’re recruiting a senior engineer to lead advanced manufacturing systems (pneumatics, hydraulics, gas handling, etc.). Strong signals of commercial momentum and scaling. Clear focus on lean processes, high-tech systems, and hydrogen growth. Very bullish indeed.

Only a conspiracy theorist would say otherwise.

Let’s be patient—but also clear.

Hydropulse has changed the game, and anyone still clinging to the “500MW to break even” narrative either hasn’t done their homework—or they’re deliberately ignoring what’s happening.

Hydropulse is not just a product. It’s ITM flipping the script from “sell electrolyser kits” to build, own, and operate scalable hydrogen assets. No capex from the customer, no operational burden—Hydropulse handles everything. Customers just buy hydrogen. Simple, bankable, repeatable.

This directly answers the biggest reason final investment decisions (FIDs) have taken time: customers needed certainty—on delivery, tech risk, integration, and cost. Now they have it.

It also wipes out SpicyTuna’s entire argument.

He’s still quoting the old 500MW figure from Trident-only days. But:

• The company said clearly (39:40 in the interim Q&A): break-even is 400–500MW with Trident alone

• Add Neptunes, and break-even drops

• Hydropulse accelerates that even more, by enabling multi-deployment sites, rapid rollout, and recurring revenue

Dennis Schulz didn’t just say “serious near-term value” for fun. He knew Hydropulse was coming. He knew what it meant. And those who’ve been paying attention know that when Dennis says something, it gets delivered.

We’re due an RNS. Results in August. An announcement before then wouldn’t be surprising—and if that happens, this recent share price dip? Nothing more than a temporary shakeout.

Meanwhile, shorts are closing deals in the background. Even as retail gets shaken, institutions are leaning in. That tells you what’s actually going on.

Let’s just see what the next week brings. I’ve bought more this week, added around 2.5k shares. All adds up!!

Pretty sure SpicyTuna has forgot he told us he had 67k shares at 55p while claiming the price was worth under 25p.

And just to remind everyone — he’s been posting every single day since January 1st. Like a creep with an obsession, doing everything he can to talk the share down. Every negative angle, every doubt, every hit piece — and then tries to act like he’s a holder? Why would anyone take him seriously at this point? It’s embarrassing.

Offtakers are finally in place for HAR1, with HAR2 not far behind — so yes, ITM is off and running. The delays weren’t down to them, and now that things are clearly progressing, this kind of post just comes off as a bit desperate, to be honest.

Add Carlton’s 35 MW to Shell’s 100 MW and a pipeline of serious projects stacking up for 2026–2027 — momentum’s clearly building. ITM’s ready.

So they want hydrogen flowing by 2027, decisions need to land now. ITM’s the obvious front-runner — UK-based, proven PEM at this scale, and already delivering into HAR1.

If Carlton signs with ITM this quarter, electrolyser production can kick off early 2026, keeping the timeline tight but doable. Miss that window, and 2027 slips.

Spicy’s really showing his character without even realising it—‘down down down’ like he’s celebrating. Bit of a creep. Funny thing is, he said the same at 25p.

Helikon just reduced by 0.68 in AFC—not in the ITM yet, but notable all the same. First reduction in over a year from the them.

Spicy, you've repeatedly claimed ITM needs 500MW to break even—but your own earlier comments say otherwise. In the interim results Q&A (39:40), it’s clearly stated that break-even is between 400–500MW based on Trident alone—and that figure drops further with Neptunes in the mix. So why are you now pushing a flat 500MW line?

You’ve been in this long enough to know the company’s trajectory, including their pivot toward containerised PEMs—which aligns with what NEL and Bosch are now pursuing. Ignoring that context while pretending it’s all fixed at 500MW misrepresents reality.

And let’s not pretend you don’t know about Hydropulse. The whole point of that initiative is scalability and cost-efficiency—exactly the factors that shift break-even lower. You’ve either forgotten that—or you're deliberately omitting it.

Your narrative isn’t just inconsistent. It looks like you're pushing an agenda.

Interm results: https://www.youtube.com/watch?v=fuHBY-On7vM

Exactly. One serious contract and the green box saga ends. Though let’s be honest—when this hits £3, Spicy will still be in here screaming “bubble” from behind the filter, insisting it's all just handshakes and hype. Some things never change.

I know most people aren’t interested in this stuff, but he floods the chat so much I feel like I’ve got to say something—mainly to stop new people from listening to him. I know a few did at 25p and ended up getting shaken out and losing money because they believed what he was saying. That’s the damage.

What most don’t realise is his old account—Ricky—actually bought in way higher than I ever did. Believe it or not, he was in around 400p. He’ll swear blind it’s not him, but come on—it’s obvious. Same tone, same bitterness, same obsession with trying to rewrite the past.

So what’s really going on? Honestly, it’s not about strategy or insight—it’s about regret. He’s not shorting this professionally, and he’s definitely not trading it well. (All in my opinion, I know a lot being he is working for the hedge funds.)

No one who’s genuinely positioned right spends every single day on here trying to convince everyone else that the company’s worthless. That’s not analysis—it’s damage control.

He either sold way too early, or worse, cut his losses at the bottom, and now he’s desperate to justify it. He needs ITM to go back below 50p just so he can feel like he was right—not to make money, but to soothe the ego. That’s why he argues every handshake, every announcement, every move up. It’s not about the stock—it’s about his own decision that went badly wrong.

He’s not trading the market. He’s trading his own regret. And that’s why he’s still here, every day, needing to be right.