Member Info for toneman

RM Funds resolutions can be found on their own website.

https://rm-funds.co.uk/wp-content/uploads/2025/07/Notes-to-Shareholders-vFinal-EMBARGOED-TBC.pdf

Hmm, I'm not sure that's the right plan. Selling valuable assets like land with grid connection rights seems like a recipe to close the NAV gap by reducing NAV. Couldn't they lease those assets if they're not in a position to build them out themselves, and use that extra revenue to slowly expand the duration of the existing assets.

One day, if the fund survives, they're going to want to build more new sites and that land with connection agreed is not going to get any cheaper, so selling the ones you've got for a lump sum today seems counter-intuitive for the long term.

I'm not sure this board has the right idea. Seems very short term thinking.

I'd expect the next wave of buyers to drive us into the 30s.

I'd expect 22p-23p buy price would bring those new buyers in. So roughly another 10% lower would probably be attractive enough.

Nothing goes up in a straight line forever. We need a few pullbacks in order that those who missed out so far feel they have an opportunity to buy in. The buying will resume soon enough... especially when the next update on Everdura manufacturing lands.

I don't understand how all these recent decisions could have been announced without today's dividend cut already being clear internally. So they must have known that they were going to cut the dividend to 0.75p and also drop the expected 1p in place of the special dividend. Yet they still announced the special dividend as a 3p dividend. Why not keep the 1p quarterly that was expected and announce a 2p special. True, it would have been less than hoped for, but this cut and replace '3p' just seems weird now. They must have known this was coming.

It's possible the 175% gain we've had since beginning of April was in anticipation of exactly this RNS, but the number of share trades in this company suggests it's still not on enough investor radars. I think there's a lot more to come when IES potential really starts to sink in en masse. I expect this RNS to carry weight for a few weeks and at least prevent the price from dropping back into the lows.

Understating

Richard I thought it was worth extending your original post heading which was rather understanding the numbers involved in today's announcement.

We definitely need more storage, but I'm not convinced that battery storage is going to solve the windfarm problem.

Batteries need frequent cycling to make money, and the obvious cycles that match with industrial and domestic usage are daily and intraday. You can just about argue that their is a lopsided cycle which is weekdays versus weekends, but there isn't an obvious weeks-long or monthly cycle. The only next cycle that comes to mind is seasonal, but that's a whole different kettle of fish for storage.

Anyway, the point is that designing a battery system to meet daily or intraday cycles (6-12 hour charge/discharge max) means that it matches well with solar that has a daytime charge and nighttime discharge built in. The same cannot be said for windpower which can blow continuously for days on end. Once your battery is fully charged in 6 hours you've got no slot available for discharge and you can't absorb any more of the excess either. So we're going to have constraints on wind for a while yet until they solve either the distribution problem or match the excess power with some other sort of storage or usage (hydro; electrolysis; or data-centre).

The zonal pricing isn't even going to solve the problem. It'll disguise it for a few years, but by around 2030 we'll be back were we are now as even more windfarms become operational and there is no additional local demand to be encouraged onstream. There is a limit to how many washing machines, tumble dryers and EVs that can be plugged in in a local area and the windfarms will always eventually overrun them as they are by design intended for national power delivery not local.

Fortunately the 'powers that be' haven't worked any of this out yet and can only see batteries as the storage solution, so I'm massively invested in IES. Looking forward to this afternoon's presentation.

I do expect another capital raise, or possibly a substantial loan. They're going to need money for more factories to meet the demand. Right now they don't have the capacity to deliver something like Hagshaw within its proposed timescales, and I'm expecting several "Hagshaws" from the LDES rounds. Seems like a nice problem to have.

I feel like they should have mentioned the non-flamable characteristics of VFB, but maybe it's best in public to just not mention fires at all. Not sure.

Sushi the company has already recognised and highlighted exactly your point. That's why they're going through their cost reduction program. They've stated their cost savings to-date and tell us they're not finished yet. They also clearly told us that they're going to sandbag their orders until they get closer to target costs and increase their manufacturing capacity. You may argue that they won't reach their targets sustainably, but I suspect they will. So I'll happily take the other side of your bet. Game on.

My apologies dobs. The board was busier than normal so I took a punt on who was new.

Hi Rick, dobs, Jungle, fundamental, Umaz, this company stock could certainly do with reaching a wider audience so I'm pleased to see you all. I took the opportunity for a big top up today following BBNs timely analysis (thanks BBN). At least my average is now far more palatable , so if we can help drive the stock higher with some new blood then it seems like a welcome boost.

For those new to the stock and wondering exactly what the company is all about then it's perfect timing because there is a corporate update presentation online on Friday (4th April 10am) on the InvestorMeet platform https://www.investormeetcompany.com/

I wonder if anyone actually panic-sells on the basis of the misreported buy/sell interpretation. Anyone looking at the summary would think that *everyone* is selling. My recent top-up purchase also marked up as a sell at exactly the same purchase price as a number of those around mine, so I'd assume they'd all have actually been purchases as well.

Still, anyone chosing to sell for whatever reason clearly doesn't have the confidence that I do that this will work out well once we reach a steady order-flow of batteries.

Today's RNSs seem clearly very positive and I'd have expected to at least see 12p as an immediate reaction and then higher as the positivity sinks in. I appreciate 10MWh is at the low end of Endurium for a single order but I would expect this to represent the start of many. The LDES publication seems to favour IES, in part, so that should be encouraging too. Was it the comment around LODES that puts the damper on positivity and holds back a sustained uptick in share price?

That site was also only under construction, so presumably the battery units aren't even currently charging and discharging. You just can't trust these Lithium packs (slightly worrying as I've got a LiFePo for my solar at home).

Perhaps all BESS sites that have not yet taken delivery of their Lithium packs should cancel their orders and place orders with Invinity instead.

Pmc, I'm not sure if I'm just being naive or simply lenient, but I can't see how any deals would be ready for Endurium so soon. I'm pretty sure they wouldn't have released any specs, even to potential customers, ahead of the official launch. And the size of projects involved surely can't reach a sign-off in only 8 weeks. Of course, I'm ever hopeful, so I still look at the RNS feed first thing wishing for some sort of order indication. Though I feel we'll be waiting another few weeks yet.

Fairlysolvent, it's certainly a risk from that, particularly regarding windfarms. Trump seems particularly unhinged with his vehement hatred of wind turbines. I am though still clinging to the idea that Musk loves solar and batteries and may persuade Trump to be lenient on those. Musk clearly wants to keep selling powerwalls and grid storage so I'd like to think that'll keep the door open for Invinity too.