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And it's also just handy to know this.

Dennis Schulz CEO's Linkedin reply after he and the Ceres CEO met with Sarah Jones, Minister the Department of Energy Security and Net Zero, just prior to the Governments £2.3 Billion announcement in Green Hydrogen.

"Dennis Schulz

Author

CEO of ITM Power

(edited)

3mo

There are only two commercial scale electrolyser companies in the UK. Ceres with its technology licensing business, and ITM Power with its technology and manufacturing. In terms of volume manufacturing, ITM is the only electrolyser company producing domestically."

UK just about to move forward plus the fast accelerating contract wins in Germany might help explain why 6 directors used their own money to buy shares at the end of last year.

dyor.

It could at a guess be Storegga's Cromarty Hydrogen project which they have in cohoots with Scottish Power (@10.6MW) and they also have another planning application pending (and probably HAR2 application) for a further Speyside project.

https://www.cromartyhydrogenproject.co.uk/

https://storegga.earth/en-gb/speyside-hydrogen

Exciting times...

Another one of the 11 - Whitelees, with 20MW up for grabs and guess who's name is firmly in the frame.

https://itm-power.com/news/20mw-electrolyser-with-scottishpower-uk-s-largest

Own view: Never in it's history, with over £200M cash on the balance sheet at last report has the ITM Powers share price looked so cheap.

dyor.

Bradford Green Hydrogen - where Hygen (our partner) is one of the lead organisations involved.

"4w • 1 month ago

Follow

We're looking for exceptional Tier 1 and Tier 2 contractors to build the UK's largest government-backed hydrogen production facility in Bradford.

We need experienced partners to deliver all aspects of construction - from civil engineering to mechanical and electrical works.

This is more than a construction project.

We're transforming a historic industrial site into a cornerstone of Britain's hydrogen economy, featuring state-of-the-art production and refuelling infrastructure.

Interested Tier 1 and Tier 2 contractors with proven track records in safety and project delivery can express interest by emailing us here: "

24.5MW on that one if we bag it.

Your 11 is listed here if you scroll down, but the significance of todays RNS is that it looks like not only one of them but with more more projects planned on top and probably sat with applications submitted for the 875M HAR 2 round which closed in April. Read the last line.

"ITM is pleased to announce that we have been contracted by a European energy company to jointly develop a standard design configuration for a 10MW green hydrogen production plant. Our customer intends to deploy this plant design in several projects across the UK.

Here's the 11 - take your pick which one.

Looks like it's a new face over and above Whitelees and Bradford Green Hydrogen where I think we will be named on both.

https://www.gov.uk/government/publications/hydrogen-production-business-model-net-zero-hydrogen-fund-shortlisted-projects/hydrogen-production-business-model-net-zero-hydrogen-fund-har1-successful-projects

Eventually the market will waken up

That LInkedin post was 2 weeks ago and more will be getting signed as we speak.

£2 Billion monies now enabled for the 11 UK projects and Green for Go on Green Hydrogen in the UK

https://www.spglobal.com/commodity-insights/en/news-research/latest-news/energy-transition/103124-uk-poised-to-award-first-green-hydrogen-subsidies-following-labour-budget

That the Hydrogen production contracts had just been signed on the first 3 HAR1 projects and therefore you should see some announcements imminently, and that ITM is one of only two UK based companies that can produce at scale.

There are 11 up for grabs and 125MW this round and a further 875MW coming next round.

I'd say that is 1 of 11.

Happy with my own research and hence sat quiet for 2 days.

This years Revenue Guidance should be UPPED.

"GREEN HYDROGEN MILESTONE

The government’s Low Carbon Contracts Company has now signed the first three hydrogen production contracts under Hydrogen Allocation Round 1 (HAR-1). These are part of the 11 contracts offered in this initial allocation round for green hydrogen production.

These early projects known as West Wales, Cromarty and Whitelee, are the first of their kind and will have a combined capacity of 31.8MW."

Focus on what's coming. UK is officially up and running and so is the Hygen partnership.

Can anybody share please?

It's not just the rebrand Kyk, it's the fact they spent £50 Million of shareholders money to keep prices low and aid retention only to then fire a bullet through the heart of great sales and momentum with a rebrand. It's a epic debacle and given how Ingenuity has gone private it was asking old and new shareholders to pay again, for imvho the mistakes.

If Selkirk do come forward it will be a similar story with the option to rollover but somebody will effectively end up paying again for these and many other mistakes and non-actions.

They have failed to resurrect Nutrition in the last quarter and the full command structure right to the top needs replacing.

That's when people will actually see a return on their investments without anybody else having to fork out again.

I am pro Selkirk coming along and clearing out the command structure but 49% or whatever they are happy with will have to come from somewhere and they will be looking for a decent price to make profits.

All imvho

Disappointing update but picked up a few at circa 10.5p from profits off the last rise and can add more. Essentially a free carry.

It could find itself on the receiving end of a bid at these levels but in any case can lock them away and wait for recovery or the next spike.

Kelso's average was 57.5p so they are also down a shedload of money.

The thing is they came up with loads of value accretive suggestions, loads.and as know 95% of all suggestions were binned. Most of their amongst them.

Have we had any reaction yet off them today?

I honestly and sincerely hope that MM doesn't just go out the conference call, look at the consequential dip in the share price and then pen another Linkedin rant.

The sp actually started relatively stable and there would have been better merit in just issuing the trading statement and nothing else.

All things considered Selkirk the most likely route I concur

Yorek we have had all this US talk in the past, with a leaked article and then in the following analyst meeting all Divisions being USA ready. Never happened and the reality though was Ingenuity private at £25 Million.

Iain Mac also in his recent presentation highlighted you need to be in the £1 Bill plus value for the US.

So probably missed the boat on that about 18 months ago. Hard also to reconcile Nutrition going to the US when it's sales are declining as they are.

I think greater care needs to be made with comments or things could end up in a class action.

That is just my thoughts.

And up she goes again.

Great trading share.

Moniman I'm saying it how it is and said it's a mixed bag. No escaping those Nutrition numbers.

Relatively neutral reaction thus far in terms of share price movement.

Lets see if we can get through the Analyst meeting and avoid Linkedin posts.

Kelso quiet thus far.

What's gone wrong? and who made those decisions? is what the Chairman should be asking.

Then taking appropriate action.

Cratering Nutrition is the main contributor to what is declining Revenue.

In line yes, and pluses and minus in the statement, particularly with cash and the potential HMRC reclaim so a mixed bag.

But through all the garb and deflection of "buyer funnels" and other management speak and deflection I have to agree with other commentary that sadly THG Nutrition is seriously cratering sales and won't escape the analysts who were quoting the need for changed personnel last time around. The rebrand was meant to be behind at last update and this is meant to be solely a Q3 update yet it's still being used as an excuse. Yes Coproduction in Japan as highlighted and good licensing deals more of which should have been said on these. (Does he not know what they all are?). Great business with potential but it's a mess and suffering the consequences of the failure of strategic decisions. Needs replacement of all those responsible.

Given the way the numbers have translated especially with Ingenuity increase in sales there may also be suggestion that he bought himself a good hand.

Would have preferred a half page of pertinence and no conference call nor ranting Linkedin posts but it is what it is.

Overall it's not good, but it's the market that decides the way the price moves.

Always happy to oblige with any cheaper prices given what's going on.

Agreed Dibs1 that it's only a matter of time.

Equally as important though is that this significant and crucial stage now sets up all the HAR2 round of applications for the same. Applications for that closed in April last year and their being evaluated as we speak so there should be one another big announcement in the coming months.

The next stage is 875MW of capacity which is a large step up, and one of those I suspect might be the 500MW Kintore hydrogen project which will scale up in stages to 3 GW. Dig deep into that and you'll find it's Government backed. If that is our 500MW Reservation of Capacity then we're made.

Patience