Member Info for toneman

We've been stuck on sub £10m revenue for a few years now. If the jobs we're now starting to complete are in the 24MW range then two or more of those jobs should see us hitting the £20m+ revenue level in some near-term company accounts. It won't be anywhere near being profitable but I'd like to think the stockmarket would start to look a little more favourably on reports of 100%-200% jumps in revenue. It could be a good opportunity to be adding at these levels, and below, before we get such a revenue uplift (next year?).

That's a big price cut by Jefferies.

Seaangler, I'm a little sceptical over these figures. The jump is entirely down to 240MW preferred supplier agreement with the new Motive. As we've had a version of Motive for a couple of years now, it seems a little artificial that we can now add 240MW as preferred supplier. Surely ITM would be permanent supplier to Motive. Can we lose that business in the future?

The red flag for me is the tender pipeline has been omitted. My guess is it's dropped significantly due to the contract wins we've heard from Plug Power.

ITM probably daren't show that it's dropped below 1GW.

omg that's a terrible update. Maybe I'm missing something in the backlog number that explains the future, but I'm failing to see the orders. I would expect a large price drop today.

Anyone care to predict the movement of ITM shares tomorrow when the results come out? I'm wondering if it's low enough that it won't get hammered.

KB, how's the motivational speaking work going?

ITM POWER PLC will be holding a Trading Update for the year ended 30 April 2022 meeting on 9th Jun 2022 at 2:00pm BST.

investormeetcompany.com

It emphasises how broken our system is. Wind Farm operators shouldn't even be selling electricity at gas-generation prices, but the 'powers that be' haven't worked out how to separate the two yet, despite having certificates of supply for 100% renewable energy.

Thanks Bellers, much appreciated.

Thanks Bellers. Thinking about switching suppliers. Would you recommend Eon?

Surely as long as the renewable energy being used is matched by certificates of supply then I think its a good thing to not have to match every electrolyser with a brand new renewable generator. That's certainly one of the things limiting the current sale of electrolysers. And surely more demand from electrolysers will naturally grow the production of solar/wind farms if they can sell their certificates of supply to existing electrolysers and not just the general grid consumers.

I have a green electricity tarriff which claims to be 100% renewably sources. I know that the daily electricity I use is generated by a mix of sources, but there's supposed to be a certificate with my usage on it. Annoyingly I don't get the benefit of a solar/wind price due to the ridiculous system that we are all tied to gas. Surely if my electricity can be traced back to a renewable generator through a certificate then I could pay the rate of production there, not some centralised methodology. Anyway, I digress...

The question is, how close are we to all current reneable generation being 100% matched by green tarriff users? If, say, there is 20% underutilised then surely electrolysers should be allowed to sign up and use it. If demand has already exceeded supply then, by definition, new electrolysers require new renewable generation built to match...but it still doesn't have to be conjoined with the same project. A certificate of renewable generation should still suffice.

Sadly the companies and individuals desperately trying to cling onto their way of life are doing a good job of twisting the vocabulary such that they can apply it to themselves. I'm seeing it a lot with the nuclear industry who regularly call themselves 'clean', when they should really use 'low carbon' (they are most certainly not clean). Others are claiming 'green' hydrogen for themselves when they use 'renewable natural gas'. Today I read that Tesla has been kicked out of an ESG index and a pile of Oil companies have been added to it. The waters are muddying and I think we're entering a free-for-all phase. This is going to get really dirty. If we thought it was going to be a clean fight and an obvious choice for companies to pick ITM's products, we need to think again. Surely it's more important than ever for GC and team to not sit back and wait for business to come to them. They should recognise now, before it's too late, that it's now dog eat dog.

Following their article yesterday, they're now hosting an opposing article of doom and gloom.

https://www.telegraph.co.uk/business/2022/05/20/frances-big-bet-hydrogen-doomed-fail/

"The electric, battery driven car is widely seen as the vehicle of the future."
"Hydrogen is an unproven technology. The infrastructure for fuelling vehicles is woefully inadequate and unlikely to get any better."
"Elon Musk, the Tesla founder, who can justifiably claim to know a bit about this stuff, only last week described hydrogen as “the most dumb thing I could possibly imagine for energy storage”."

Curiously, the few that I read in the comments sections were all pro-hydrogen and informing Matthew Lynn that his article was poorly researched.

I'd swap it for a 1GW electrolyser order from Denmark.

Self-congratulatory claptrap. UK leading the world? Hmm. Plug Power get an order for 1GW whilst BAIS still think testing and competitions are needed to prove the technology is viable. All the while we continue to tie ourselves to the British government, and their delusional view of the state of play in this field, the further behind we will drift. Europe are building 100's of refueling stations. Fortescue is building GW scale generation. And Plug Power are out to win every order they can lay their hands on. GC and ITM need to wake up.

Looks like the WorldQuant short was closed though. I guess the big order that Plug received has at least made them think again.

This has got to sting for ITM. Presumably this was on ITMs radar. If not, why not? It's in Europe. And it's gone to a PEM solution. ITM had better come up with something big soon to show us they're not just waiting in the wings.

Maybe the news is finally starting to sink in over the pond. Plug up 11%. Personally I think a 1GW order is worth a little more, but I suppose I am a little biased. I wouldn't be surprised if it catches up a bit this week.

Now what is ITM going to offer in response. They should be ashamed of themselves if they can't get a factory-sized order over the line. They've been at this longer than Plug Power.

True, a couple of years ago news like this would have resulted in a 20%-30% daily gain. How times change.