Member Info for Licancabur

Bitcoin is fresh air - I wouldn't worry about it.

I take Bilbo's point regarding the slow take-up of fuel cell cars - this doesn't seem to be the main target market for H2 for now anyway. It will be interesting to see if this changes when more refuelling sites open in Europe , USA and Japan. The UK lags sadly behind, which must be frustrating for companies like ITM. The CEO has said in the past that he sees heavy industry and power-to-gas as the principal markets for H2 deployment and we'll see if he's right. Meanwhile I haven't yet seen any sign of battery technology scaling up to a level that would break through into the heavy transport or aviation sectors, which are key to decarbonisation in the foreseeable future.

J P Morgan clearly think this is not a bubble....

That's a mighty project. Interesting to see which gets the contract.

The London market continues to be a long term basket case from the index tracker point of view, the FTSE 100 still lower than it was in 1999. The strength of the pound is hammering international-focused stocks, which was predicted once Brexit was dealt with. All the H2 stocks seem to be down to a similar degree and the sell-off seems to be indiscriminate. Once the short=term and speculative holders are flushed out we may see a bounce but I'm not holding my breath. Long term ITM has a future and that's what we need to focus on.

Also interesting that JLR see H2 as the only solution for their larger vehicles. Will other European manufacturers draw the same conclusion?

https://www.autocar.co.uk/car-news/new-cars/jaguar-land-rover-test-fuel-cell-powertrains-within-year

Before everyone gets too downhearted, it should be pointed out that both Plug Power and NEL are down over 10% today. It seems the H2 sector has experienced some profit-taking.

Lutra I agree with you there, having held SSE since the company was privatised and gained a hefty dividend income in that time. The important thing is that they are strong in the clean energy market and are bound to get involved in hydrogen storage in future years, having built up a sizeable wind power operation. Scottish Power under Iberdrola have gone even further by divesting all their fossil fuel generating capacity. Bilbo is correct in identifying the stranded asset issue but I feel that in time this will work itself out. SSE will never shoot the lights out but there is always the possibility of a bid from another energy company to keep the share price interesting.

https://www.h2-view.com/story/new-hydrogen-station-opens-in-germany-3/

I note that Germany has just opened its 90th hydrogen refuelling station. Why oh why is the UK so far behind on this?

Interesting article thanks. It confirms my belief in companies like SSE, which are in the forefront of the drive to clean energy but don't get a lot of media exposure.

You would probably have done better by just holding over the long term. ITM is one share you don't want to be out of - it's a business of the future, not something to dip in an out of.

Interesting that they consider the shares undervalued. Given that the oil majors are going to be required to become green energy businesses in time, I would have expected SSE to be on the radar of some of them. SSE would make a great fit for Royal Dutch Shell for example.

It will be interesting to se where this share goes now. Private equity are not known for overpaying so it's doubtful that Platinum will come back with a higher bid. The BOD must be confident that they can deliver growth and it will be interesting to see if their confidence is justified. The possibility of a further bid will no doubt support the share price meanwhile. Given the level of debt, it's hard to see a dividend materialising in the next year or 2.

My own view is that short selling is an iniquitous practice which should be banned but never will be because the financial institutions make too much money out of it. In no other market would you be able to borrow someone's asset, without their explicit permission, with the specific intention of devaluing it. Hedge funds are socially useless and deserve to be taken to the cleaners.

On a quick read through there seem to be no great surprises there. It will be interesting to see how the market reacts though.

The Bank of England has now been advised not to buy up any further company debt from oil and gas companies. Sign of the times......

Trading update on Thursday 28th

Retracement not replacement!