Member Info for Momentum5

Personally I think that games are being played. The shorter need to do this. They need to collect as many shares on the cheap as they can without spiking the price. In my view they dumped some on the open this morning to set the narrative. They are buying any dips trying to not let this go above 140p. I would love for another RNS to come out and this gap up. That would really make me laugh.

Yes, absolutely agree the shorts are just a fun toy to play with but not the main driver. It is right that people want payback on the shorts, and we will get that. They are done, they know it and it will lift the share price higher in the short term. In summary they have had their time and now the bulls are in charge.

Sentiment is a very important factor to. ITM has been beaten down historically from it's £6-£7 highs back in 2021 and there have been justifiable reasons for that. New management has turned the ship around. It takes time to do this and the amazing job that Dennis and the rest of the team have done is absolutely transformed the company. It is only the beginning and what a time to be invested in this share. With a market cap of less that £1b it has so so much upside.

As we know the UK and Europe cannot afford to rely on oil and gas from other nations. That needs to stop. Alternative fuels that can be generated on home soil are essential and ITM is positioned perfectly to benefit from that.

Recent RNSs have been absolutely blockbuster. Massive UK government funding, massive NATO RNSs all absolute game changing news. So much more to come. Could not feel any happier to be invested in this company.

Buy and hold and enjoy the ride.

It is interesting when you look at the opening action this morning. It looks like they tried to dump some shares at the open to control the narrative for the day. Lets see how that goes. We all know they need to do a load of buying so the more share we take of the table in sticky hands the more desperate they become. Fun and games.

Yes. it is absolutely shocking what some analysts say. On the whole I have learnt to ignore them. They often have ulterior motives. Like saying buy gold and silver at the top while they are selling etc.

Yes, expect manipulation. They are going to try to get you to question yourself. We all know the game is up. I'm going to break the piggy bank and throw the kitchen sink at this.

I am not a 100% on the rules but is notification delayed by 1 day? So it is possible that they also bought today and we find out tomorrow?

Nice to see the shorts reducing their positions. It is a strong endorsement as it means they feel that it is not worth holding out for lower prices. So outstanding is now 3.69% total. That is still a lot of buying they need to do.

Absolutely. Will be interesting to see if the shorts have reduced their positions.

Yes, great management is absolutely key, and I'm so impressed with the team. Absolutely first class. As you detailed below what Dennis has done is absolutely transformational and the market has not priced this in.

We also have Sir Warren East as part of the ITM team, former CEO of Rolls-Royce. He caused the turnaround at Rolls-Royce from near collapse to massive success story. He is considered to be "One of the UK's most respected engineers, his experience modernising large-scale engineering firms is critical for ITM's operational "gearing" and decarbonisation strategy."

We also have Jürgen Nowicki (Non-Executive Chair): He officially began his role on at ITM on 15 January 2026.

Expertise: A veteran of the industrial gas industry, he was previously the CEO of Linde Engineering. Strategic Value: His deep history with Linde (ITM’s largest shareholder) is intended to strengthen the commercial partnership and aid ITM in scaling its technology for global markets.

All of the above gives me massive confidence that ITM is going to be a multibillion pound company. Why would people of this calibre join a company unless they truly believed they could make it something exceptional.

I think more than anything else knowing that the above are part of the team gives me true belief that ITM is going to be a massive success.

Yes, I think 145p is the line in the sand for the shorts. Once we go above that it means consolidation of recent news and new recent all time high. They will be worried that after this level it could go even higher. Which is absolutely possible. Any new positive RNS and we could gap up again. 145p also coincides with market cap around £1b which I think is a physiological shift i.e. ITM is a serious company.

I would not be surprised at all if large institutions start buying in. This is a perfect addition to ethical fund investments and any fund looking for serious alpha. ITM has completely flipped the script recently. Backing from UK government gives it even more credibility and the NATO RNS has the potential for massive future earnings. Also now we are close the the £1b market cap it is a nice size for instructional investors to invest in.

145p is really important level at the moment. If that breaks it is really really good news. Does not need to happen today or tomorrow but when it does it will become support.

Could not agree more. Market cap is what you should look at. So ITM is currently around £949m. It may sound like a lot but when you start comparing it to Plug Power which has $4.49bn market cap or Bloom Energy which has $62bn market cap or even Siemens Energy at €146bn or Linde PLC $230bn then you start to see where this could go. I accept that Siemens Energy and Linde are in completely different leagues with different business models.

But the point is that ITM power is price at what you could consider to be a small-cap speculative name. I don't think that is going to be the case in the future.

Yes, you definitely want this share in a ISA or SIPP. Otherwise the future capital gains you will have to pay outside those tax free wrappers will be painful.

The recent RNS of "£40 million strategic investment by Great British Energy and£46.5 million grant from DESNZ to enable a 1 GW Chronos manufacturing line in the UK" & "Strategic collaboration with Rheinmetall" are nothing short of absolutely amazing and the current share price rise is absolutely justified.

Agreed that as more news comes about the "Strategic collaboration with Rheinmetall" the more the share price will rise.

What you have to ask yourself is do you trust the management team to deliver? For me that is a resounding YES, from the research I have done on them.

The tide has truly turned with this share. Personally, I can see this share just going up and up long term, just like Rolls-Royce did. So top slice or do what you want it is your money, but I don't think you will find many investments that will bet the level of return this is going to give over the next few years.

Nice. MMs in the UK tried a tree shake this am bless them but it was unsuccessful.

When you look at who ITM are partnering with and who is part of the management team. You have to say that ITM will not be a £1billion market cap for long. So much upside in this share.

Yes, to save others the time see below re Warren's performance at RR:

Sir Warren East's tenure as CEO of Rolls-Royce (2015–2022) is often described as a period of significant "turbulent turnaround". He took over a company struggling with multiple profit warnings and left after steering it through the existential threat of the COVID-19 pandemic.

Key Performance Areas:

Financial Restructuring & Survival:

Pandemic Management: When the pandemic grounded global aviation, Rolls-Royce’s revenue (heavily dependent on engine flying hours) collapsed, leading to a record £5.4 billion loss in early 2020. East responded by raising £7.3 billion in emergency funding and cutting 9,000 jobs to ensure survival.

Cost Savings: He successfully completed a major restructuring a year ahead of schedule, delivering approximately £1.3 billion in annual savings.

Market Value: When he started in 2015, the company was valued at roughly £15.7bn; at his departure, it was worth about £8bn, reflecting the severe impact of the pandemic on the aerospace sector.

Operational & Technical Challenges:

Trent 1000 Issues: Much of his leadership was dominated by fixing durability issues with the Trent 1000 engines (used on the Boeing 787). These faults cost the company roughly £2.4 billion between 2017 and 2023 in repairs and customer compensation.

Modernisation: He moved the company away from being a "collection of fiefdoms" toward a more streamlined structure with three core units: Civil Aerospace, Defence, and Power Systems.

Strategic Legacy:

Net Zero Transition: East is credited with setting the company’s "pioneering vision" for a net-zero future, including achieving a world speed record for electric flight and demonstrating hydrogen combustion in aero engines.

Disposals: To shore up the balance sheet, he oversaw the sale of non-core assets, including the L'Orange fuel injection business and the Commercial Marine division. By the time he stepped down, the company had returned to an underlying operating profit of £513 million (2021), up from a nearly £2 billion loss the year prior.

It is amazing to have him as part of the ITM team.

Yes, it is critical that ITM has a first class management team and from the research I have done I am very impressed.

Director Backgrounds:

Jürgen Nowicki (Non-Executive Chair): He officially began his role on 15 January 2026.

Expertise: A veteran of the industrial gas industry, he was previously the CEO of Linde Engineering.

Strategic Value: His deep history with Linde (ITM’s largest shareholder) is intended to strengthen the commercial partnership and aid ITM in scaling its technology for global markets.

Amy Grey (CFO): Appointed in early 2025.

Expertise: A Chartered Accountant who previously served as CFO of Sheffield Forgemasters.

Strategic Value: She has extensive experience in high-end manufacturing and leading companies through transitions, including the flotation of Greenlane Renewables on the Toronto Stock Exchange.

Sir Warren East (Non-Executive Director): Joined the board in October 2025.

Expertise: Former CEO of Rolls-Royce (2015–2022) and CEO of ARM Holdings (2001–2013).

Strategic Value: One of the UK's most respected engineers, his experience modernising large-scale engineering firms is critical for ITM's operational "gearing" and decarbonisation strategy.

John Howarth (Non-Executive Director): Also joined in October 2025.

Expertise: A Chartered Accountant and Partner at S&W LLP, with previous senior roles at EY and PwC.

Strategic Value: He has a long history of advising fast-growing AIM-listed businesses on governance, audit, and financial reporting.

Dennis Schulz is an experienced engineering executive who was appointed CEO of ITM Power in December 2022. He was recruited specifically to transition the company into a world-class manufacturing organisation.

Professional Experience: Schulz spent over 14 years at Linde Engineering—a major partner and shareholder of ITM Power—before taking the helm. His career there spanned several critical commercial and technical functions:

Managing Director (2020–2022): Based in Dresden, Germany, where he oversaw the engineering division's operations.

Chief Financial Officer (2017–2020): Managed the financial strategy for Linde's engineering arm.

Head of Strategy and M&A (2016–2017): Responsible for the division's growth path and strategic acquisitions.

Operational Roles: He previously served as Head of Project Execution Services and as a Global QHSE (Quality, Health, Safety, and Environment) Manager.

Education & Professional Standing: Executive MBA: From Munich Business School (2010–2012), including strategic management studies at SDA Bocconi and Singapore Management University. Master of Science (M.Sc.): In Industrial Environmental Computing from HTW Berlin.

Industry Leadership: In June 2025, he was elected to the Board of Hydrogen Europe, where he represents the industrial sector's interests.

Government Advisory: He is a member of the UK Hydrogen Delivery Council, advising on the implementation of the UK's hydrogen strategy.

Yes, disappointing to see it falling this morning, but I'm invested in this long term. The upside potential is absolute massive. It is not surprising that some are top slicing or taking profits but long term I personally think they will regret it.