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A much needed kitchen sink job from Dennis Shulz, who seems to understand the need to move on from the boffin stage to serious manufacturing. Financial rigour, hitherto sadly absent from ITM, will apparently be the watchword, and not before time.

Presumably the money men at Diageo will be using this opportunity to buy in as many shares as they can before the price rises again, as it usually does.

Plenty of coverage of ITM in today's Times. Alistair Osborne mentions the lack of govt support for H2 in the UK compared with the EU. It seems that the cosying up to ministers hasn't got the company very far.

samson 123 I agree about the capital return - it's not reasonable to ask any investor to sell stock without knowing the price.

So the dreaded update has arrived and put us out of our misery for now. One would like to think that this is the end of the bad news but with ITM you can never be sure, as we know. On the positive side, the new CEO seems to have a more realistic view of market prospects than the last one and appears to understand the need for financial rigour, which is equally important. The days of being able to fundraise at an inflated share price are definitely over and cash burn will be an issue. At present I'm inclined to give Dennis Schulz the benefit of the doubt but we shall see.

Agreed Persimmon, it's a good update and bodes well for future growth post pandemic. Germany is looking particularly positive. Plus there are those free breakfasts......

I have thought the same for years Toneman. It's frustrating that the govt doesn't see it.

That should be iPace -auto correct playing its tricks again!

In today's Times Giles Coren relates the catalogue of disasters that characterised his ownership of a Jaguar space. It seems that almost everything that could go wrong did. Most discouraging was the availability and reliability of the charging network - this for a high-end car too. The situation seems to be getting worse rather than better as BEV ownership rises and places more pressure on the system. Eye watering peak prices for recharging have now entered the equation. It's a pity that the H2 network hasnt been able to take up the slack - a missed opportunity if ever there was one.

This is encouraging Bilbo. We need a CEO who sticks to the knitting.

Another gloomy appraisal iin today's Times. Will we ever get any good news from this company?

Yet another small-scale demonstration model run. Depressing that the refuelling infrastructure has not materialised because until it does the car manufacturers ha e nowhere to go with this.

You may have seen this already Bilbo.....
https://www.afr.com/companies/energy/why-panasonic-sees-big-future-for-green-hydrogen-in-australia-20221201-p5c2u4

Agreed, it's a negative outlook but those of us who have followed ITM for some time will recognise the concerns that the article raises.

https://uk.finance.yahoo.com/news/down-75-itm-power-share-152600222.html

Jacobjohn7 I admire your optimism and hope that it is well founded in reality. Unfortunately we have no idea what the order situation is, just a succession of very downbeat updates from the company. The appointment of a competent CEO would certainly help sentiment. The tide may turn eventually but they really are testing out patience.

Feels like Groundhog Day Bilbo - another CEO tweet about orders that some other company has won and yet another drop in the SP. Will it ever end?

CWR up a similar amount so it seems to be sector-wide.

Interesting that VW have adopted this, having been adamantly opposed to FCEVs In the past. JLR have already stated that H2 is an option for their larger cars and SUVs, batteries being too heavy and insufficiently energy-dense. Worth watching how this develops.

I am confused about this company's dividend policy. There does not seem to be any payment due for the current period, yet GSK are already paying a greatly reduced dividend to their shareholders. Has anyone worked out when we might receive a payment?