Member Info for JeffMills

Kintore – 60% chance

Big project, already part-funded, could get a shout if she’s serious about hydrogen.

Hygen – 70% chance

Hydrogen backbone’s key to infrastructure talk – pretty likely it gets a mention.

ITM – 20% chance

Low odds. She might talk electrolysers, but name-dropping ITM? Not banking on it.

Just a quick one for fun — calling 77p open, push to 79/80p pre-Reeves, and a close around 85p.

Spicy, warm up your keyboard now in case I’m off by a penny — wouldn’t want you missing your big moment, mate.

Thanks troublesome. Nothing new re spicy. Obsessed. Every time.

I think we’ll get something. Not the full fireworks, but I reckon they’ll mention hydrogen — probably name Kintore or at least nod to HAR2, maybe even drop some actual funding figures. Could be wrapped into the whole “infrastructure” or “net zero innovation” angle, but it’ll be in there.

I don’t think they’ll name ITM directly but if they talk about scaling electrolysis or UK supply chains, that’s close enough. And if they chuck in a 10 GW target or something like that, then yeah, that’s proper upside.

So I’m thinking somewhere in the +15% to +25% range if it’s clear and solid. Could be more if the market runs with it. But if it’s all vague ? Maybe +7% at best. No hydrogen at all? But then again todays drop was probably pricing in vague, so we could easily just bounce back to 83p on anything slightly better.

But gut feeling? We get something decent. Enough to bounce big.

For the day traders, heres what I think of the SP movements tomrrow:

–3% if hydrogen’s completely ignored (unlikely)

0% if it’s just vague clean energy language — market shrugs it off.

+3% if hydrogen is mentioned without clear funding — seen as staying in the game.

+20% if projects like Kintore are named with government support.

+25% if there's funding plus a national electrolyser target (e.g. 10 GW).

+50% if ITM is directly referenced or clearly positioned as a strategic supplier — that’s rerating territory.

they’ve been talking about green hydrogen non stop for last past few months. har2 had 27 projects shortlisted in april, they’ve mentioned blending it into the gas grid, even talked about switching s****horpe steel over to hydrogen. plus there’s that £6.5bn hyspeed aiming for 1gw.

so if reeves stands up tomorrow and just bangs on about nuclear without even mentioning hydrogen, it’s a joke. has to be mentioned.

Felt deliberate, like they’re keeping the headline stuff for Reeves tomorrow. Classic pre-brief: set expectations low, then land the broader strategy in the Spending Review.

But honestly, hydrogen has to be in there. You can't talk about decarbonising heavy industry, long-duration storage, or replacing gas without it. Kintore’s already part-funded. HAR2’s teed up. HYSPEED’s been hanging in the wings for months. If Reeves wants credibility on net zero and infrastructure, she has to pull hydrogen into the spotlight.

So yeah — Miliband gave us nothing. That actually makes me more confident we’ll get something real tomorrow.

We’ve got that tw*t Ade spamming the ITM board non-stop because he panic-sold last week, jumped back into AFC without even understanding what a JDA is — hahaha. I don’t usually knock other people’s investments, but this guy’s wrecked every proper conversation about the sector on ITM today with his constant crap posts. Hopefully this stunt finally shuts him up.

And let’s be clear: AFC and ITM aren’t even in the same league. You can’t compare them.

ITM is about to deliver a 100MW project for Shell. That one project’s revenue alone would be worth nearly AFC’s entire market cap. ITM’s tied into government programmes, scaling up production, and has an actual commercial pipeline. AFC’s still doing demo units and dropping vague “confidential partner” PR just to look alive.

So yeah, not the same sport, not the same stadium. One's building the future, the other's clinging to 2021 hype.

Tomorrow’s the UK government’s Spending Review — Rachel Reeves will outline how over £2 trillion will be allocated across departments, setting the agenda for the next four years. T

For ITM Power, this is a potential breakout moment back to £1 — if the right words get said.

If Reeves names Kintore Hydrogen — that’s a 500 MW green hydrogen project already in motion, backed by the government’s Net Zero Hydrogen Fund — and ties it to funding or delivery timelines, I could see this being a 20%+ rise on annoucement. ITM isn’t confirmed on the project, but it’s one of the only serious PEM electrolyser players in the UK. You hear “Kintore” with cash behind it? ITM goes.

Same for HYSPEED — the long-awaited hydrogen backbone. If tomorrow includes serious money for hydrogen transport, storage, or blending infrastructure, it signals scale. It tells the market hydrogen’s not a footnote — it’s part of the national strategy. And again, more hydrogen means more electrolysers.

Add to that any mention of electrolyser targets — say, a 10 GW production goal or public-sector procurement — and the setup becomes clear: strategic tech, government-backed demand, limited domestic suppliers.

AFC?AFC? Revenue last year was like £4m. Their big news is a JDA with some “confidential” S&P 500 firm — no names, no money, and no revenue expected till 2027. They’ve got nothing real in play now. Again blame Ade for me telling some truths.

JDAs, MoUs, "strategic partnerships" with big names but no meat on the bone — just PR to keep the lights on.

Difference is, ITM’s moved on. They’ve done the dance. They’re now waiting on FIDs for government-backed, industrial-scale hydrogen projects. Real money, real infrastructure, real timelines. That’s the level they’re at.

AFC? Still stuck in that early-stage BS. Vague JDAs with “confidential S&P 500” names — lol. No deployments, no visibility, no progress. Just recycling the same hype ITM outgrew years ago.

So yeah, AFC out here doing ITM 2021 cosplay — but it’s 2025 and the market’s not buying that story anymore. Blame Ade for my appearance.

That was probably meant for the AFC chat. Am I correct Ade?

How many “gamblers” do you know that sit on a bet for years, watch policy evolve, track sector funding, and wait for execution..? Lovely input.

The idea that they’ll just gracefully exit at 100p, flip long, and ride off into the sunset? Come on spicy hahaha. That’s fantasy. In the real world, trying to unload a position that size quietly while momentum is building is like trying to sneak out of a nightclub with a foghorn. The second they start buying back, this thing rips. That’s why they’re still sitting tight — because they know they’ll light the fuse.

And yeah, maybe they’re still green on paper, but profits on a screen mean nothing if you’re frozen in the headlights. This isn’t the same ITM from 2022. Momentum’s shifting, sentiment’s turning, and long-term holders (like me) aren’t selling into the bounce (I actually purchased more at 72p) — we’re buying the story, not trading the noise.

They’ve had their fun. Now it’s our turn.

Get comfy — this could get spicy.

They won’t want to close right now — not after getting caught off guard by that 300MW Asia pre-FID news. They know if they start covering, they’ll only add fuel to the fire and risk triggering a sharp move back into the £1.00–£1.50+ range. That’s the squeeze scenario they’ll want to avoid.

Before, this kind of bounce might have faded — but this price action and momentum feels different. The tone has shifted. Buyers are stepping up faster, and dips are getting bought with confidence. Like me, people are holding strong, watching it build — and waiting for the next catalyst to light it up.

Just to follow up on that — when i say they're “trapped.” To be clear:

I don’t mean they’re underwater yet — far from it. Their short position started when ITM was over £4 in late 2021. They built it as the price dropped through 2022 and 2023, so their average short is probably somewhere in the £2.00–£3.50 range, depending on how much they scaled at each level.

But here’s the thing: they’ve held onto a big short for over 2.5 years, through countless sector shifts, government funding rounds, and tech advances. That kind of exposure doesn’t come without risk — and the longer they hold, the higher the risk of getting stuck.

By “trapped,” I mean this: when ITM starts to run on real news — FID lands, HAR2 support, HySpeed deals, — Helikon and others won’t be able to exit quietly. With a ~20 million share position, any move to cover will drive the price higher, turning paper gains into a scramble.

Helikon have been shorting ITM Power since late 2021 — when the sp was trading over £4.00. They crossed the 1% disclosure threshold on 11 Nov 2021, when the price was around 438p, and later built it up to a peak of 3.31% in mid-2023. As of the last disclosure in Feb 2024, they’re still holding 2.91% short.

So why haven’t they closed? Honestly, imo they’ve simply overstayed and are now trapped. Maybe they thought ITM would run out of cash or never commercialise. Maybe they ignored the market’s shift toward hydrogen and energy security. Either way, that thesis is looking tired.

Now, the landscape is changing fast — HySpeed, HAR2, strategic alliances, and real commercial contracts are starting to move. ITM’s core tech is ready. Government is backing clean hydrogen. Public and private sector money is lining up. All it takes now is contract conversions, and the market will wake up. As we can see already!!

And when that happens, it’s not just buyers who’ll move the price — shorts like Helikon will be forced to cover, adding rocket fuel to any rally.

I’ve held for the long term and know this will be back above £7 in the coming years. The recent daily gains are only a warm-up.

Wishing all genuine holders health, wealth, and strong hands. The next phase could be explosive.

Ah yes, the "spicy hype bubble" theory — dusted off every 10p rise like clockwork. Must be exhausting trying to sound strategic while the share price keeps moving against you.

£200M in cash, 100MW live, 300MW+ pre-FID backed by governments, 500MW waiting — but yeah, let’s pretend this is 2021 again and none of that matters. If Helikon's playing both sides, maybe take notes… because so far your side looks like it’s just missing out.

He says he’s invested, yet he’s on here talking like Helikon’s accountant. Who actually speaks like that in a share they supposedly hold?

If you’re that deep into other people’s positions and averages, maybe take a step back and ask why you’re so bothered. Doesn’t sound like an investor — sounds like someone who missed the move and can’t let it go.

Spicy tuna - creep

“Bubble,” Spicy? What exactly does a bubble look like to him — because this isn’t it. From 25p to 96p in under a couple of months, with a pullback to 58p and now closing today at 83.29p — that’s not hype, that’s a re-rate with serious backing.

£516m market cap, with £200M+ in cash, and a project pipeline most hydrogen players would kill for:

• 100MW Shell delivery wrapping up

• 300MW+ pre-FID, government-backed

• 500MW project waiting on FID

• Execution track improving quarter by quarter

No fluff, no guesswork — real fundamentals starting to price in. And that’s all before another RNS hits.

Keep calling it a bubble while the rest of us ride the next leg. This isn’t noise — it’s the market catching up to reality.

£1 tomorrow?