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Sorry if this was missed in last nights crossfire.

3 FID Decisions enabled and another 8 following after their hydrogen production contracts are signed. 125MW in the mix and not too many domestic producers at scale (2)

"Green Economy WalesGreen Economy Wales

1952 followers

2w

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."

The UK is now Officially off and running and 11 projects can now move ahead.

dyor

So no great sell off in the Oil price or in BP from the "drill, baby, drill" comments.

It may have worked once but reality says all things take time and money and then there is the politics, and the economics of making profits, and with far bigger actors in the world like a certain cartel called Opec and the wider incorporating Russia and the like (Nopec).

The reaction kind of reminds me of another US Presidents remarks "Fool me once"...

There are 11 HAR1 Green Hydrogen contracts that were approved by the UK Government and circa £2Billion of Government funding to assist outlined in the last Budget. The Ceres CEO Phil Caldwell and the ITM Power CEO, Dennis Schulz had the distinguished privilege of meeting with the Sarah Jones MP and Climate Change Minister some 3 months ago and just prior to the Budget announcement. From Linkedin.

"Green Economy WalesGreen Economy Wales

2w

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."

It is these hydrogen production contracts that give the project certainty and then enable FID's to be made.

Hopefully both companies benefit.

Have a good evening and dyor.

65p to 39p to 55p to 38.8p to ... Take your pick Kyk on the next number

That's the orderly and transparent markets of the LSE for you.

THG Ingenuity btw sat absolutely static all the way throughout without any movement at 43p and with them in a directly proportional manner shifting everything THG sells.

Wouldn't be surprised if Selkirk did strike a deal and it was take private to avoid all this volatility and undervalue.

No prediction Kyk.

It'll land where it wants to.

Another sad indictment though for orderly markets UK.

Hopefully Selkirk have had the gumption to tap MM on the shoulder and tell him time is up under his stewardship.

It's actually enlightening watching from afar so I shall revert to same said position till after results.

Exact same has happened several times here @THG.

They'll be cleared and gone by tomorrow by 4.30p.m. tomorrow.

Nice profits banked.

This was Dennis Schulz's answer to a Linkedin question just after he posted a meeting whereby he and the Ceres CEO had a meeting with Sarah Hughes, the Climate Change and Net Zero Minister.

"Dennis Schulz

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."

That meeting in Question referred to.

"Dennis SchulzDennis Schulz

CEO of ITM PowerCEO of ITM Power

3months ago

The UK electrolyser industry in one picture, and speaking with one voice. Phil Caldwell and I enjoyed discussing opportunities and challenges of green hydrogen and electrolysers with Sarah Jones, Minister of State at the Department for Energy Security and Net Zero and Department for Business and Trade.

ITM Power and Ceres are ready to partner with our new and ambitious government to propel our world-leading electrolyser technologies and manufacturing into a strong sustainable pillar of the UK economy.

Let us make good on lost ground as a country, and finally start growing jobs, economic benefit and wealth. Let us maximise the domestic benefit from decarbonising our industry and the world.

The Labour Party

hashtag#UKInvestment hashtag#hydrogen hashtag#energy hashtag#uk hashtag#government"

You can find it all on Linkedin.

Seen enough now with recent Neptune V contracts, 100MW to RWE Linden and Har1 finding now having kicked off to sit back and patiently wait.

dyor

There's 11 FID's up for grabs and amounting to 125MW in the first round.

Here's the ITM link to Whitelees

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

"Green Economy WalesGreen Economy Wales

2w

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."

I did say somebody pointed out something interesting last week (On Whitlees where ITM are involved then did my own research) Explains also the Hygen / HSBC funding imo and the fact Bradford Green Hydrogen were advertising for Tier 1 and Tier 2 contractors for their project.

Heads up for you. On the HAR1 funding contracts

Contracts have been signed with the first 3 of the 11 UK Green Hydrogen projects for their share of the funding via the Low Carbon Contracts Company.

Further 8 to come and amounting to 125MW UK based electrolyser capacity this round. Next round HAR2 things scale up to 875MW.

The UK is now officially off and running.

It is this funding and contract certainty which enables the Final Investment Decisions (FID) decisions to be made, so sit back and wait.

Interesting times ahead for Dennis and ITM Power ahead of next update and presentation.

https://fuelcellsworks.com/2024/10/30/green-investment/uk-chancellor-rachel-reeves-announces-2-billion-funding-for-green-hydrogen-projects

MM's take it down prior, scapegoat a masquerading shorter who thinks it's they affecting the price. Moulding gets all the flack and discontent comments.

When the sells dry up, buy back shares and close your positions pre-announcement.

Nice profit banked and all risk diminished.

Its a not too dissimilar pattern on most e-commerce shares.

Easy money for the some that constantly get away with making their own luck.

Shame for it's up there now with all the other Tier 1 and Tier 2 contractors and it's very well managed and connected.

May start adding some more with any dips.

And courtesy of Dennis Schulz on LInkedin

"It was a real pleasure to welcome you to our factory, Nikolaus Valerius, Dr. Sopna Sury and Dr.-Ing. Jörg Walter. The joint Linde Engineering and ITM Power team feels honored to be part of this exciting project and journey! Together with the very professional RWE team, we are building the world’s biggest and most advanced PEM electrolyser plant on earth."

There's good reason for that.

Always dyor

But they have however since Trump was elected (5th November) announced 4 x Neptune V (1 + 3) 5MW contracted sales and a 50MW contract where they are the chosen technology provider and also bagged the FEED. You can find the RNS links above).

And you also have the RWE Linkedin post from last week showing 100MW of Electrolysers are shortly to depart for the RWE facility in Lingen.

Sorry, missed the last bit off the preceding post.

Well as pointed out last night ITM have None / Nil / Zero RNS'd Contracts or Reservation of Capacity contracts in the US.

But they have however since Trump was elected (5th November) announced 4 x Neptune V (1 + 3) 5MW contracted sales and a 50MW contract where they are the chosen technology provider and also bagged the FEED. You can find the RNS links above).

But you might be right that it might spur China into some action and ITM did however have SINOPEC - The China Petroleum and Chemical Corporation as a recent visitor at the tail end of last year.

James Collins

Head of Business Development at ITM Power

4mo • 5 months ago

Follow

It was great to host SINOPEC at our ITM Power factory in Sheffield today. Sinopec is one of the largest oil and gas and chemical companies in the world, so great to listen to their view of hydrogen globally and have the oppurtunity to explain how our technology offers something very different to others on the market. "

It seems we have had a full contaminated thread removed and what were numerous pertinent and non-engaging posts with it.

kitesurfer I think we all know that the 500MW Reservation of Capacity will happen given they have paid a reservation fee for that privilege, and where we think it is.

But in the meantime focus on this years 2025 revenue guidance and what this RWE Linkedin post means

""GET H2 is our 300 MW electrolyzer project, we are currently erecting in #Lingen.

2/3 of the capacity we are doing together with ITM Power - PEM electrolyzer technology and Linde as contract partner.

Around five months after taking FID on the total project, it was a good moment together with my board colleage Dr. Sopna Sury to look how far ITM is with the production of the electolyzers in their facilities in #Sheffield, UK.

But before getting in touch with our stacks, which are almost ready to ship for Line 1 to our site in Germany, i had to undertake a laborartory electrolyser build up and commissioning competition ..

ITM is testing their membranes in this laboratory: its durability and development latter!

A pre qualification session for me you may say 😉, a development and testing step on European electrolyzer technology for ITM.

Its a good signal that the technology is developed in the UK, in Europe and gets alive with RWE in Lingen. First time already 2024 in our 5 MW pilot section and the next 100 MW going online 2025.

👉In a nutshell: we are on time underway. The Linde, ITM and RWE team, all the colleagues in the project are fully energized and with fun and professionalism working on the project to deliver a big success!

Bravo!"

Focus on the words "almost ready to ship" and "First time already 2024 in our 5 MW pilot section and the next 100 MW going online 2025.".

A 5MW Neptune V Electrolyser - €5Million Euros.

https://itm-power.com/products/neptune-5

There's another 100MW to be delivered to RWE afterwards and all other contracts on top, including HAR1 potential.

And a share buyback also off Kier

Surprised Costain didn't follow the large gains in the FTSE Indices and particularly given the CEO Alex Vaughan I'm sure said previously in a results webcast that all Costain contracts contain clauses enabling them to pass on all inflationary pressures.

It can catch up in its own time.

Ding dong.

I've always seemed to get the timing right on this one.

Good old SMS based over in the UD. Had been doing some fine networking over therein the States with the Trump camp.

Just needs some of the combined Trillionaires wealth at yesterdays inauguration to filter through in contracts to SFOR.