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I'm with you on this one Jeff. This has UK written all over it. UK based project for the UK Hydrogen backbine. Will have UK HAR (Hydrogen Allocation Round) based funding, Scottish / UK jobs created, and an important aspect of the Levelling Up agenda North of the the Border. London based company submitting the application - It'll be UK made Electrolysers that go into the Project. 500MW to 3GigWatts.

Happy to follow my nose on this one ahead of the pack and similarly on the 11 green Hydrogen projects green lighted at the budget. Timings seem remarkably coincident Jeff??

The glaring clue is the 6 Director buys - all just after the Budget and not long after they met the Energy Minister.

https://itm-power.com/news/500mw-capacity-reservation

Have a good evening.

Another shocker of a day in the life of THG shareholders.

Come on Selkirk. 10p a share for Ingenuity, keep the placing monies in Ingenuity and an agreement to provide the extra £75Million to get it to FCF positive as projected and all as part of the deal - and as a condition of purchase no Moulding or any of his circle anywhere near the decision making.

"Utility scale" btw in my book means you will effectively be supplying the gubbins / inner workings of one VERY LARGE power station converting wind and water into Green hydrogen.

N82 - see what's in the circular first.

Once committed to paper then you can digest fully and decide / improve, should you wish.

I could have provided you with the link Jeff if you'd asked as I located it and read quite a bit of it last night including what you have pointed out re PEM Electrolyser size being smaller than any competition, albeit both will probably be used. Here's the key dates link below with the outer dates shown.

Just in perspective - this one is Utility Scale (500MW scaling up to 3GigaWatts) and this one project is set to meet half of Scotland's green hydrogen production by 2030. It's a full on planning application in principle with all the supporting National imperative, bat, otter, badger surveys etc, impact assessments, noise assessments and it's clear it's been worked up for some time and had Net Zero funding etc.

It all fits in to where the National Interest is and where the UK is intending being in 2030 - Project Union, which is a UK Hydrogen Backbone.

Each successive Hydrogen allocation round will imvho be increasing in size to feed into this (and will mean more work out there). The first 11 the Government has just given £2 Billion backing to and we are linked to 2 of those at least. This one with Planning might already be in mix for HAR2 funding which closed for applications in April with assessments being done and decisions pending.

Project Union

https://www.nationalgas.com/future-energy/hydrogen/project-union

Key Dates link.

https://upa.aberdeenshire.gov.uk/online-applications/applicationDetails.do?activeTab=dates&keyVal=SKMFWMCALNV00

Novice it wasn't a fishing exercise Apollo hired outside help in the form of an Ex Coty BoD and ex Holland and Barrett BoD to advise.

Perhaps waiting for the circular N82, so they can improve on it. (He says hopefully)

Perhaps MM is having the take private circular refined just to make sure in there is a security clause also for him, wife and his children in case he decides to slide all the one way in the future or perhaps the slipping in of some type of golden share equivalent clause, whereby by being a key landlord of THG Ingenuity then he has the casting vote.

Incredible share price really but it seems like it's oil stocks that are taking the brunt of recent falls.

Wouldn't surprise me one bit if funds attached to Trump and Elon Musk are playing the markets and upping their wealth.

Will wait for a trigger point to top up rather than act too quickly.

Novice82

"Well, at the minimum it would need to be in the ballpark of what Apollo previously offered. Esp given that Ingenuity's "performance" has improved since the so-called offer came in."

Which begs the question Why taken private so cheaply?

If Selkirk or A N Other was to come along and offer for THG Ingenuity, then 2 questions.

What offer do people think would need to be made for it to be put to shareholders?

What minimum offer for it to be acceptible?

Unless my memory is failing me the Chairman of Capita (CPI) bought just over 3% of Selkirk.

dyor.

Just read the RNS and I though it generally read ok, the only bit making me hesitate was limited visibility over Q4.

Some Director buying to lead the way wouldn't hurt, then I might buy in.

The Oil price outlook presently as we speak is not good given Trumps rhetoric of "drill baby drill" to all Non Opec Oil producers and the get the oil price (and inflation down), and which was behind yesterdays decline in the price of oil.

But if you step back and look at things Oil producers wan't the best price and not the least price for their oil. So I don't expect many to follow the rhetoric. That though won't though stop billions of pounds worth of forward contracts being signed.

No names given at the time but could it actually be right under our noses in the UK?

First phase of this Aberdeen based project is 500MW and expanding to 3GigaWatts of green hydrogen which is massive.

Planning application in and pending.

https://kintorehydrogen.co.uk/

https://kintorehydrogen.co.uk/kintore-hydrogen-application-submission

Common sense says Shell wins the say but then again we live in a world where at times there is little.

Present share price and the oil price reducing is more to do with Trump's "drill baby drill comments"to get Non Opec countries to produce more oil and to drop the oil price and hence inflation.

It's probably more rhetoric than action for producers wan't the best price for the oil they produce, not less.

Back parked up again with half as most media last night were saying that No phone call took place between Trump / Putin.

I think everyone holding here can understand your sentiments as its just about sat at half price in Laurens options package and tbf she never ever convinced the City with the Capital Markets Day.

It's sub previous suspension levels when there were more issues than you could shake a stick at.

No idea what is holding it back presently other than perhaps the power struggle at Boohoo and it's need to sort out it's debt. Does anyone have any greater insight?

Up then down a bit.

It has the appearance of somebody trying to pick up stock and shake out weak hands.

I've already highlighted the link between the Whitelees Green Hydrogen Project in East Renfrewshire and ITM Power where we have been named in the press.

A bit of delving this morning on the Bradford Low Carbon Hydrogen Production Facility which is another of the 11 Green Hydrogen projects that the UK Government has just green lighted with £2 Billion funding in the Budget.

I'd say in all probability ITM look set to bag circa 25 MW of Electrolyser capacity on this project also as it's lead developer is Hygen.

https://www.bbc.co.uk/news/articles/cpvzkkeg2g1o#:~:text=Funding%20to%20build%20the%20UK's,%C2%A32bn%20from%20the%20government.

https://www.offshore-energy.biz/hygen-picks-itm-powers-electrolyzers-for-hydrogen-projects-across-europe/

9 more of the 11 in the UK also up for grabs in the UK and Hygen I see also have another project progressing in Ballymena with Wrightbus which has received Net Zero backing.

Might in part be one of the reasons why 6 ITM Directors all recently bought shares.