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Glosses over that cost of "green" hydrogen will inevitably come down, plus the fact that green hydrogen plugs the intermittency gap. But serves to illustrate what the industry and ITM et al are up against
https://www.theguardian.com/commentisfree/2021/mar/16/hydrogen-nuclear-net-zero-carbon-renewables
Don't disagree, Ant, but it seems to be "tarred" with the same brush. It is a sector issue, specific niceties are being over-looked, at the present time. It will win out, will just take time. At these levels, I suspect LTHs will be rewarded, but would hazard a five-year horizon.
To add to Ant8's comments - if EQT had suffered this (painful) reversal alone, I think we might rationally conclude that something is amiss. However, that is not the case - all stocks in this sector, ITM, Ceres, AFC, PHE are all down by similar amounts. NEL is down too, but by not nearly as much.
The explanation, I think , lies in UK government action, or inaction. Very little encouragement in the budget for support for the hydrogen biased economy. In addition, the evidence to the parliamentary committee was not particularly favourable. Contrast that with the EU, which perhaps explains why NEL is down by far less.
The govt is due to publish their hydrogen strategy shortly - this could really be make or break time for the others companies I mentioned, as well as EQT. I do feel that govt support is absolutely essential for success here, but much, much more importantly, to meeting our carbon neutrality 2050 target. Sadly, whether we like it or not, it will ultimately come down to politics.
SPD: ditto, but good idea
Article in the Observer today, "Revealed: why hundreds of thousands of tonnes of recycling are going up in smoke". It is highlighting this Monday's Channel 4’s Dispatches programme, Dirty Truth About Your Rubbish.
Looks like they highlight the problems of incineration, but not any of the solutions at hand, c.f. PHE, EQT.
Here are some quotes from the article but worth a read - no paywall.
"In the past, objections to incineration largely centred on air quality and public health concerns, but the focus has shifted. In the age of net zero and ahead of COP26, today’s campaigners are looking at emissions and insisting that the green claims of the incineration industry are subject to scrutiny........
.....This analysis shows that producing electricity from waste (by incineration) is more carbon intensive than producing it from gas, and second only to coal. In fact, as coal is phased out, energy from waste will become the dirtiest form of electricity production in the UK. The report (by the consultancy Eunomia, commissioned by the environmental law charity ClientEarth) concludes that by 2035, incineration will be a more carbon-intensive process than even landfill.
Article in the Observer today, "Revealed: why hundreds of thousands of tonnes of recycling are going up in smoke". It is highlighting this Monday's Channel 4’s Dispatches programme, Dirty Truth About Your Rubbish.
Looks like they highlight the problems of incineration, but not any of the solutions at hand, c.f. PHE, EQT.
Here are some quotes from the article but worth a read - no paywall.
"In the past, objections to incineration largely centred on air quality and public health concerns, but the focus has shifted. In the age of net zero and ahead of COP26, today’s campaigners are looking at emissions and insisting that the green claims of the incineration industry are subject to scrutiny........
.....This analysis shows that producing electricity from waste (by incineration) is more carbon intensive than producing it from gas, and second only to coal. In fact, as coal is phased out, energy from waste will become the dirtiest form of electricity production in the UK. The report (by the consultancy Eunomia, commissioned by the environmental law charity ClientEarth) concludes that by 2035, incineration will be a more carbon-intensive process than even landfill.
https://www.change.org/p/boris-johnson-stop-the-u-k-from-exporting-its-plastic-waste/u/28610488?cs_tk=AvaiHoSVpdx-PYp4O2AAAXicyyvNyQEABF8BvLgTShQFRBfSWz0R5jSPHb4%3D&utm_campaign=f6663ded265a497092f8fb21aa8d45f0&utm_content=initial_v0_4_0&utm_medium=email&utm_source=petition_update&utm_term=cs
Worth checking out, cf. comment from Rebecca Pow MP:
"We currently plan to consult before the end of 2022 on options to deliver the ban on exports of plastic waste to non-OECD countries and, as a precursor to that consultation, Defra has commissioned research to better understand plastic waste recycling capacity in the UK and OECD member countries. This research will be key to the development of policy options to implement the manifesto commitment."
Apologies, still "big"
Can't see the trade, but ... someone's math is a bit out? 800,000 shares at say £13 per sh = £10.4 m. Still bid, but not quite a billion!
But not GDR? Up c. 16% on the day, and 10% (?) yesterday??
Given the increase in mrk cap, coupled with increase in daily volume and (monetary) size of trades, ITM should consider a main board listing, either premium or standard.
As ever, there are pros and cons. On the plus side, (potentially) greater institutional investor involvement, hopefully with longer-term horizons, thereby reducing price volatility, especially if a premium listing is taken out giving qualification for FTSE index inclusion. Better corporate governance, again supporting greater II involvement. Move to order book trading, rather than being dependent on market makers.
There are downsides, of course. Stamp duty will be payable on buys. IHT exemption will be lost. More costly for the company, in terms of both money and (senior) management time.
But, for the company to be considered a "major" player, especially on the international scene, a move to the main board should be high on the Board's agenda.
Fallingknife - looking even better!! Hope I've not given kiss of death!!
Great initiative, Toneman.
I forwarded to Riversimple (they have a significant data base of interested customers), but not sure if it went through on their automated contact system.
May be worth someone else having a go?
I think UK plc is making progress in this area - check out: https://www.novainnovation.com/