Member Info for JeffMills

Who’s Tuna again? Oh right, the same guy who called me delusional and a disgrace for saying this could hit £1 in 2025/26 when it was sitting at 30p. I’m not even filtering him yet—it's honestly entertaining watching him spiral deeper into desperation. Still trying to figure out his angle. Seems like he just craved his five minutes of attention on lse, clueless about the sector or company, but saw hydrogen stocks getting hammered and thought it was prime time to jump in and predict further drops. Bit creepy, but hey, there’s no shortage of creeps online!

The EU aims for hydrogen to cover 13-14% of its energy mix by 2040. Who said it would be the mass-scale energy replacement? To cover 14% of the EU’s energy, we’d need roughly 30,000 MW of PEM electrolysers installed.

Call it a niche if you want, but I call that a lot of contracts—and a lot of money for us shareholders lol. Honestly, no idea what he’s trying to say.

For anyone new — just so you’re aware — spicytuna called 26.5p “not attractive at all.” Then at circa 80p, he casually mentions holding 67,000 shares. Be patient with him — he might be trading with crayons.

Plug went up today because the Senate extended hydrogen tax credits through 2028 and softened emissions rules, and Trump’s team was behind it. They basically worked out a deal to keep clean energy investments—and U.S. jobs..

He’s honestly asking why it isn’t 400p yet while literally explaining in the same breath that it needs FIDs first—duh! That’s the point.

It’s also not at 25p anymore, 80p and rising, because the market is already pricing in a high chance of those FIDs landing. It’s like me turning around and asking why isn’t it at 20p then?

Seriously—it’s either painfully naive or just deliberately dumb. Embarrassing posts, honestly. 🥱

I think ITM will announce initial Hydropulse offtake deals or development agreements within the next month or so—basically the first real, named projects with industrial customers. Could be FEED-level commitments or even first FIDs if they move fast. That’s exactly what they set Hydropulse up in Germany for, and they’ve said initial projects are already “under development.”

If they confirm even a handful of concrete Hydropulse sites—say 25–50 MW worth of contracted pipeline—that’s the market finally seeing the recurring revenue model become real.

If that happens by August? I’d back the share price to be in the £1.30–£1.40 range, easily. The market’s shown it will pay up for execution, not just talk—and these kinds of announcements would be the first real proof that Hydropulse is working exactly as planned.

Yes, we all understand that being cash generative in H2 doesn’t mean full-year profit. Dennis literally spells it out in the guidance. This isn’t some cryptic message designed to trick investors — it’s a standard way of reporting progress during a scale-up phase.

It’s almost impressive how many words he’ll use to restate the obvious while pretending he’s cracked some hidden truth.

What does he think this is—a therapy session? A support group for regretful investors?

Spicytuna 28 June 2025

“Listen, I’m not telling anyone to sell, okay? Don’t twist it. Sure, it’s at 80p now. Practically tripled from the lows. Whatever. Total hype. Dangerous hype. I’m just saying it’s insanely risky even here. FIDs are practically fairytales. Shell and RWE? Yeah, they say they’re working with ITM, but don’t be fooled. Meanwhile, yes—I bought 67,000 shares I bought at 50p. That’s different. I can handle the risk because I’m just built different, apparently. But you? Don’t even think about buying. You’ll get burned. You should all be terrified of this rally. Don’t listen to the rampers.

Again—I’m not telling you to sell. I’m just here, day after day, trashing my own investment and shouting about how everyone else should beware. It’s called being responsible!!!!!!!"

Exactly. Spicy keeps telling people to “beware,” but maybe they should beware of his own scare-mongering. He clearly doesn’t care if anyone panic-sells, even though he knows Kintore is in the middle of a feed and an FID is imminent. It’s not “ramping” to point out a very likely, market-moving fact—he’s just being deliberately misleading. He’s an utter fool.

Laurie, the spicy post about “no chance of £1 before 2030” honestly made me spit my coffee out laughing. Thanks for sharing.

Let’s talk numbers.

Say ITM’s core business sells 150 MW a year in 2027 at around £860k/MW, that’s about £129 million in revenue. With ~15% margin, you’re looking at ~£19–20 million gross profit from the traditional sales side.

Now Hydropulse. 150 MW deployed means 30 Neptune V units. Each one at ~£2–2.5 million a year in gross profit. That’s ~£60–75 million annual gross profit, recurring, under long-term offtake.

Combined, you’re talking £80–95 million in gross profit per year once it’s all up and running.

Market’s going to value that. Even a conservative 15× multiple puts ITM at a £1.4 billion valuation. Compared to today’s ~£500 million cap, that’s easily supporting a share price of £2.7/3, then they'd be pricing in growth, so could be much higher just on that.

Bottom line: 150 MW of sales plus 150 MW of Hydropulse isn’t some crazy target, and if they get there, this is a totally different business. It’s not hype, it’s just doing the maths.

If we land the 300mw, 500mw, and more, this target is probably too low. But this is just a conservative view.

Just topped up again. £5+ would clear the mortgage and then some. As they say.

A certain someone here needs everything spoon-fed because he can’t think one step ahead. Anyone with even a basic grasp of business should be asking why Dennis set it up in Berlin. ITM is doing fine winning orders with the main operation in the UK — they didn’t need to spin up a separate German entity just for show.

They did it because Hydropulse can operate locally: and will qualify for German subsidies, secure local financing, navigate local permitting, and close industrial offtake deals on German terms. It’s not an add-on to the UK business — it’s a purpose-built vehicle to unlock the market properly.

Whole point of why Hydropulse was set up in Germany in the first place — nice to see Dennis just liked that subsidies post too.

Having it as a German GmbH gives them credibility with regulators, access to local subsidies like the €2m/MW funding, and the ability to move fast on projects with German partners.

Thinking out loud here—this funding in Saxony-Anhalt is literally designed for projects like Hydropulse. €2 million per MW to make industrial green hydrogen sites bankable.

Hydropulse is exactly that model: they build, own, operate, and lock in long-term offtake. So yeah, I’m 100% sure they could get this funding if they line up the offtake and apply. No reason they wouldn’t qualify.

Germany state unveils €87m of new green #hydrogen subsidies

Saxony-Anholt launches two funding calls, with up to €2m available for each megawatt of electrolyser capacity.

I’m really excited for Hydropulse, especially heading into 2026

The Shell deal was big — 100 MW sold, massive validation — but the SP didn’t move much because the revenue’s not hitting the books yet, and it’s a one-off sale.

Now picture that same 100 MW under Hydropulse instead. ITM owns the asset, sells the hydrogen, and locks in €40–50m in gross profit every year. Not a one-time boost — proper recurring revenue.

If they announced that tomorrow? The SP would rocket. That kind of long-term, high-margin income is exactly what the market wants to see — it’s what gets priced in immediately.

That’s why this new model matters — it’s not just smart, it’s transformational.

Companies don’t get grants just for using green hydrogen. If they’re buying it off Hydropulse, they’re not applying for subsidies — they’re just buying a cleaner fuel. Simple.

Those grants were for building your own kit, not buying hydrogen.

If anything, these cuts makes Hydropulse more attractive — no capex, no grant stress, just clean hydrogen on contract.