Member Info for RickSanchez

Lucky its been over a month since the trading update, so with the cash burned,£195 mill in the bank.

The optimists here were highlighting the Plug news of the loan note. And gone silent after the price sunk 11%. Fantastic. Must be the fact that Plug is already over 900 million in debt, now taking on a boatload more, selling a product nobody wants to buy.

Iannous, I did not present this a fact did I, hence the wording. I said I doubt they have been selected for this project as they commence construction this year and ITM have not been mentioned.

I could not find it yet, but surely if it was ITM we would know already. So highly doubt ITM were selected.

Https://bradfordhydrogen.com/

No mention of ITM supplying electrolysers for this project. Construction begins this year so you would think ITM would have provided RNS. Looks like the "preferred partner" status fell through

This is how much the UK believes in green hydrogen, matched by the funding.

CCS - fossils fuel support - 21.7bn (no need for green h2, makes blue, far cheaper)

Nuclear energy - 3.2bn (no need for green h2, makes pink and purple, far cheaper)

Green hydrogen - 2bn (most expensive h2 by far)

Funding announcements include £3.9bn for CCS projects between 2025-2026. (Support fossil fuels). This follows the government pledging up to £21.7bn to support getting the UK’s first CCS projects.

The budget also includes support for the “first round of electrolytic [green] hydrogen production contracts, harnessing renewable energy to decarbonise industry across the length and breadth of the UK”. This will support 11 green hydrogen producers across the country.

£2 billion of funding for 11 green hydrogen projects

One Project Alone: Nuclear, with a £2.7bn settlement announced to continue the development of Sizewell C through 2025-26. And £.5bn, as part of a new subsidy scheme for the planned new nuclear power plant in Suffolk.

All 11 project combined are 125mw. A drop in the hydrogen ocean. That's if all 11 make it past the finish line, and it is a BIG if.

A 24 mw project, nothing to get excited about.

Https://www.hydrogeninsight.com/production/world-first-adnoc-installs-turquoise-hydrogen-pilot-at-its-operating-gas-processing-plant/2-1-1765613

Turquoise hydrogen derived from methane pyrolysis can be produced for about £1/kg in the US and Middle East when the production price is offset by the sale of by-product solid carbon. This, along with blue and purple varieties, solves the problem of low-carbon and carbon-neutral H2 far cheaper than green H2. This stops ITM's 'five-dollar loaf of bread' in its tracks.

Green hydrogen simply cannot compete on price. And so, the problem of low-carbon and carbon-neutral hydrogen is being solved in other ways that are far cheaper. Competing technologies breaking the cost barrier are only becoming more developed and attractive, addressing the problem of green H2's unaffordable price tag.

Lucky "A front-end engineering design (FEED) contract for a 50MW green hydrogen production site, has been given to ITM Power" Old news man...

Perhaps they could allocate more spending to Marketing, but the real problem is that they have a very fancy product, but the end cost of the H2 to the user is 3-4 times the price. It's like trying to sell the best bread made with the best technology, making it carbon neutral, but the cost of a loaf is 5 pounds – who's going to buy it? Hardly anyone. It's a tough sell and not worth wasting money to promote.

Well, intrinsically it is worth nothing until a FID is reached. If the deal had been confirmed, the PLUG stock price would have soared, but it finished flat at the end of the day.

As for ITM per RNS 16/12/2021:

Over £408 million net cash. This financial year, they expect to have £170-180 million left (April 2025). Up to £238 million has been spent since then, and the stock price is at a 5-year low, down 92% from the fund-raising date. £238 million spent, £68 million per year! And what returns have the shareholders seen? Imagine since then, buyers saying they were topping up at the dips from 400p all the way down to 32p, always thinking they were on the cusp of a rebound, and now still left deep in the red, with the cusp never happening.

Alpha-dog, it appears that you did not read the article as your point does not have any relevance to it. The point is not that we do not want any solutions to address climate change. It is that green H2 is far too expensive to be considered the final solution. Blue H2 could be a stopgap before opting for purple. It's all there in the article. No need to repeat it if you are a serious investor then you would read it for a good overview of a real challenge that ITM faces. And can explain why shorts will not close and why ITM's share price has declined four years in a row, now stuck down and cannot attract buyers. No institutions are buying this stock, fact.

Seeing as though the UK's total target for 2030 is to have 5GW of electrolytic hydrogen by 2030, I find your expectations of ITM alone securing 1GW of orders each year totally out of reality. Unless your care to explain how you got to that 1GW target? The UK is unsure if it can even meet that 5GW target. HAR1 and HAR2 only account for 1GW altogether and we still don't know how much of that will be captured by ITM.

I really advise reading the article, it explains that additional costs with hydrogen like transport, compression and storage that make green H2 unviable by comparison to other forms of low-carbon H2.

https://www.steelatlas.vc/the-hydrogen-investment-blindspot/#:~:text=The%20reason%20for%20this%20is,and%20decreasing%20solar%20energy%20costs.&text=VC%20investment%20in%20low%2Dcarbon,(Oliver%20Wyman%2C%202024).

Another non-event. No FID, BEDP stage that then needs to find investors and secure financing. Just like the countless other projects announced like this and then cancelled due to lack of financing.

9 Minute Read. Sums it up very well. Just one of the risks with this stock and perhaps the biggest. The green H2 cost analysis compared to grey, blue, pink and purple. In case you want to know why the ITM stock price is stuck at rock bottom.

https://www.steelatlas.vc/the-hydrogen-investment-blindspot/#:~:text=The%20reason%20for%20this%20is,and%20decreasing%20solar%20energy%20costs.&text=VC%20investment%20in%20low%2Dcarbon,(Oliver%20Wyman%2C%202024).

Https://www.reuters.com/business/energy/german-coal-plants-vital-electricity-supply-importers-say-2025-01-09/

"German coal plants vital for electricity supply"

Quote "Germany's coalition government collapsed, and after recent high price periods in wholesale power that

harmed industrial consumption and burdened households

"Modern hard coal plants are an important backbone of German power grids," said VDKi chairman

Alexander Bethe in a statement issued ahead of a reception on Friday.

"In order to tap into sufficient secure power supply, it will be necessary to introduce a capacity market that is open to any technology, competitive, and centralised."

Trumps take on renewable energy.

https://www.youtube.com/watch?v=wfMRCRZejaM

Another non-event. No FID, BEDP stage that then needs to find investors and secure financing. Just like the countless other projects announced like this and then cancelled due to lack of financing.

It's a discussion board. How can there be a discussion if you can only say something once? You will have a mostly green screen with that rule.

I am an atheist, the concept of a cosmic stalker in the sky who hears all your thoughts and watches you on the toilet is very distasteful. So your religious approach has no effect brother, or should we say father?