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Fair article but must have been composed prior to the single biggest move in the EU to date and Germany approving their own National Hydrogen Grid - the "Wasserstoff-Kernnetz". It's an EU Project of Common / Mutual Interest and the ultimate aim of which is to have connectivity across country borders and with import / export connectivity points. Well done Germany for firing the starting gun in the EU and hopefully prompting France and several of the other more prominent EU countries to follow their lead.

"Germany has approved its 9,040km hydrogen pipeline network, the “Wasserstoff-Kernnetz”, connecting hydrogen producers with decentralised offtakers across the country. ITM celebrates and congratulates Germany on this landmark decision.

This visionary infrastructure project represents a critical step towards realising a hydrogen economy:

Scale: This extensive network will enable large-scale transport of hydrogen, supporting industrial decarbonisation.

Connectivity: By linking production hubs to diverse end-users, it creates a true hydrogen ecosystem.

Market Development: The network provides certainty for both producers and offtakers, accelerating investment decisions and market growth.

Storage: The pipeline network itself will serve as a gigantic hydrogen storage facility, reducing the need for decentralised storage solutions significantly.

Energy Security: It enhances Germany's energy independence and resilience.

Economic Impact: Positions Germany as a leader in the hydrogen economy, driving innovation and job creation.

We see this as a lighthouse project with global implications. It demonstrates how targeted infrastructure investment can catalyse an entire industry. We anticipate this model being adopted across Europe and beyond.

Combined with Germany’s doubling of targets for domestic green hydrogen generation from 5 GW to 10 GW by 2030, their intention is clear.

The “Wasserstoff-Kernnetz” sets a new standard for hydrogen infrastructure development. We look forward to playing our part in supplying the electrolysers needed to produce the green hydrogen that will flow through this network.

https://www.cleanenergywire.org/news/hydrogen-start-flow-pipelines-germany-2025

(Far easier btw to copy, modify and adapt someone else's plan than to create your one from scratch)

What's the general feel?

I can help.

Extreme left is Rob Willock the Global Editorial Director of the Economist Intelligence Corporate Network based in Dubai. Both RW and MM appear to be there with their partners. Rob Willock was in the photos one year ago when MM did a whirlwind 48 hour flying visit to Dubai to supposedly meet investors. Right about the time he was trying to get further investment or create a take private buzz. Had to go it alone in the end though with the City he despises. RW and MM I believe are ex Nottingham University mates. There's a Linkedin post of MM's visiting Dubai with photos back at the time.

I also see they had to wrap Kong in tin foil to get him through the airport scanners for the photo.

"The Israeli military is now conducting “precise strikes on military targets in Iran”, the Israel Defence Forces (IDF) has just posted on X.

The strikes are in response to “months of continuous attacks from the regime in Iran against the state of Israel”, the IDF post says.

It also says Israel’s “defensive and offensive capabilities are fully mobilized”.

The regime in Iran and its proxies in the region have been relentlessly attacking Israel since October 7th – on seven fronts – including direct attacks from Iranian soil.

Like every other sovereign country in the world, the state of Israel has the right and the duty to respond.

Our defensive and offensive capabilities are fully mobilized. We will do whatever necessary to defend the state of Israel and the people of Israel."

And SP pick up points to buying.

dyor.

You ain't half talking some desperate bol lox today R8.

Didn't Moulding say on the analysts call that effectively those choosing Remainco would suffer no dilution as they will be getting the unelected Ingenuity shares back as extra Remainco ones.

So there shouldn't be any detrimental effect at all. In fact £100M to £150M Capex spend per year saved on Ingenuity and transferring the leases to Ingenuity is in my eyes two massive pluses.

If you are going to deramp on here then your probably best doing it for the purpose of buying in, and then doing so.

Worth remembering also that there was absolutely no problem with £95Million in monies being successfully placed and raised at 49p.

Good luck though.

The market hasn't woken up to the potential of this yet. But it will when the Reservation of Capacity and the Contracts start filtering through. It's exactly what ITM and its well connected German CEO has been been positioning themselves for.

Green hydrogen is going its own National grid in Germany. Green light. Go !!!

https://www.cleanenergywire.org/news/hydrogen-start-flow-pipelines-germany-2025

Read the last 3 paragraphs of this ITM Linkedin post and understand the scale of the market opportunity.

"Germany has approved its 9,040km hydrogen pipeline network, the “Wasserstoff-Kernnetz”, connecting hydrogen producers with decentralised offtakers across the country. ITM celebrates and congratulates Germany on this landmark decision.

This visionary infrastructure project represents a critical step towards realising a hydrogen economy:

Scale: This extensive network will enable large-scale transport of hydrogen, supporting industrial decarbonisation.

Connectivity: By linking production hubs to diverse end-users, it creates a true hydrogen ecosystem.

Market Development: The network provides certainty for both producers and offtakers, accelerating investment decisions and market growth.

Storage: The pipeline network itself will serve as a gigantic hydrogen storage facility, reducing the need for decentralised storage solutions significantly.

Energy Security: It enhances Germany's energy independence and resilience.

Economic Impact: Positions Germany as a leader in the hydrogen economy, driving innovation and job creation.

We see this as a lighthouse project with global implications. It demonstrates how targeted infrastructure investment can catalyse an entire industry. We anticipate this model being adopted across Europe and beyond.

Combined with Germany’s doubling of targets for domestic green hydrogen generation from 5 GW to 10 GW by 2030, their intention is clear.

The “Wasserstoff-Kernnetz” sets a new standard for hydrogen infrastructure development. We look forward to playing our part in supplying the electrolysers needed to produce the green hydrogen that will flow through this network."

Your money, your choice.

Techtonic there are multiplicity of reasons behind appointment of brokers and joint brokers. Some you suggest, some I suggest. Let me throw you another couple:

1. Broadening investor interest

2. Providing additional research coverage.

All brokers have their own client lists and publish their own paid for research and provide regular coverage and broker notes.

Btw, YouGov the profitable polling business, just a week ago appointed the same joint brokers btw and weren't they at one point looking to / or threatening to relist in the US instead of the UK?

Correction.

"If the RNS calender serves me correctly then we should be due an ITM update around the start of December. That should have given both newly appointed brokers over a month to get on with whatever brief they have been given."

Evening Jeff,

If the RNS calender serves me correctly then we should be due an ITM around the start of December. That should have given both newly appointed brokers over a month to get on with whatever brief they have been given.

Do you happen to know the date of the next update?

Techtonic - given how much ITM Power have in hard cash - £230Million - it is more likely to be a step up from Aim to the Main Market, or as I stated earlier the Berenberg connection may suggest the potential for a dual listing in Germany.

To increase their stake or for the full Takeover.

German engineering company and partner.

ITM CEO worked for them for circa 12 years.

£248M market cap.

£230M cash.

Some excellent contract wins

Over 100+ Negotiations ongoing and the fastest growth rate that the CEO has ever known.

Germany having just given the green light to a green hydrogen economy

16.2% shareholding presently and ITM's largest shareholder.

Share price trending at year lows.

Or might we see somebody else adding their name to the share register.

Far better to focus on seriously the biggest news in years for Germany and for both ITM Power and its partner and largest shareholder, Linde Engineering.

Ask yourself who has world leading PEM green hydrogen electrolysers, instantly scalable, Germany as an identified main market and how much kit is going to have to be supplied for this nationwide Hydrogen grid and ecosystem?

"Germany has approved its 9,040km hydrogen pipeline network, the “Wasserstoff-Kernnetz”, connecting hydrogen producers with decentralised offtakers across the country. ITM celebrates and congratulates Germany on this landmark decision.

This visionary infrastructure project represents a critical step towards realising a hydrogen economy:

Scale: This extensive network will enable large-scale transport of hydrogen, supporting industrial decarbonisation.

Connectivity: By linking production hubs to diverse end-users, it creates a true hydrogen ecosystem.

Market Development: The network provides certainty for both producers and offtakers, accelerating investment decisions and market growth.

Storage: The pipeline network itself will serve as a gigantic hydrogen storage facility, reducing the need for decentralised storage solutions significantly.

Energy Security: It enhances Germany's energy independence and resilience.

Economic Impact: Positions Germany as a leader in the hydrogen economy, driving innovation and job creation.

We see this as a lighthouse project with global implications. It demonstrates how targeted infrastructure investment can catalyse an entire industry. We anticipate this model being adopted across Europe and beyond.

Combined with Germany’s doubling of targets for domestic green hydrogen generation from 5 GW to 10 GW by 2030, their intention is clear.

The “Wasserstoff-Kernnetz” sets a new standard for hydrogen infrastructure development. We look forward to playing our part in supplying the electrolysers needed to produce the green hydrogen that will flow through this network."

https://www.cleanenergywire.org/news/hydrogen-start-flow-pipelines-germany-2025

They don't need to raise + they don't need a debt facility.

Simples.

Save wasting your time answering the non-holding spammers.

87p to 90p looks like the bottom.

Busiest quarter of the year coming up.

Fairly decent chance of 20% return in short order imvho

It's far more likely the MM's have taken it under placing price just to see who they can entice out of their shares. For whatever reason that might be for one can only speculate.

Personally though I'm hoping it teases out an approach for THG Ingenuity or further approach for THG whole.

Just one problem with your logic.

There are no fees.

You applied in the Placing and you got. Simples.

I wouldn't bet against it 404x. Everything seems to be pointing to dwindling support for Moulding.

Plus Frasers Group just pulled their bid for Mulberry last night so have £111M to play with.

£230M cash on the balance sheet.

Market Cap - £250 million. (Fundamentals tab above)

Germany just opened up for business BIG time with a green hydrogen grid.

What do you think Berenberg and JPM might be telling their clients imminently?

To be fair there isn't really much need to post any more for the Germany news has completely changed the business potential.

GL all whatever you decide. Your money, you're choice.

"· Net cash at the year-end of £230m (FY23: £283m) ahead of guidance of £200m to £220m, allowing us to conclude the year with a strong balance sheet"