Member Info for toneman

https://www.ir.plugpower.com/press-releases/news-details/2022/Plug-Lands-1-GW-Electrolyzer-Order-with-H2-Energy-Europe/default.aspx

...I thought I'd better spell it out for those who only read the headlines.

I remember someone on this forum once thought that Plug weren't competition for ITM as they were unaware of Plug's entry into the electrolyser market, specifically PEM. Check this out...

https://www.ir.plugpower.com/press-releases/news-details/2022/Plug-Lands-1-GW-Electrolyzer-Order-with-H2-Energy-Europe/default.aspx

I'd hate to be the one trying to make sense of those statistics...
44%-59% would pay more for a property, but 64% also think they should be cheaper. How do you square that circle?

Also from the Telegraph.

"Kwasi Kwarteng has told households to prepare for energy bills to rise further as part of plans to fund the cost of new nuclear power plants.

The Business Secretary has said the government's bid to boost Britain's nuclear output will have a "small effect" on energy bills as ministers replace Chinese investment with a new funding model."

Snip from the Telegraph.

"Natural gas is to be classed as a “green” investment by Kwasi Kwarteng as the Government scrambles to increase North Sea production in a move that risks inflaming tensions with climate campaigners.

Mr Kwarteng, the Business Secretary, is understood to be keen that drilling for the fossil fuel is listed as “environmentally sustainable” in a new classification of activities being drawn up by his department and the Treasury to guide investors."

Thanks bilbs. Very interesting.

There's one thing that still puzzles me about the gas grid. Once you've put gas into the grid, how do you get it out again without simply pushing more gas in at one end (vast simplification!). I mean, can you ever have an empty gas grid? What's inside it if it's empty - a vacuum? - air? It's not really a store if you can't use it without putting even more into it first. Gas storage and usage isn't my area of expertise. Can somebody help me?

Wow, that's got to be the most elaborate strategy yet for kicking the can down the road.

I'm glad this is starting to be written about. Most people seem unaware how quickly this problem scales with additional renewables capacity. Many people seem to think that it only becomes a problem once your renewables are generating more than your entire annual demand, as if that's the oversupply. They need to be educated that potential oversupply occurs on an minute by minute basis, resulting in hours and days of overcapacity, which if not stored is just lost and wasted. In my opinion wasting energy is FAR worse than inefficient conversion (the ever-present argument against green hydrogen).

Nel's Q1 results seem like a strong performance to me...
Q1 Revenue NOK213m (up 36% YoY)
Order backlog NOK1.3bn (up 19% YoY)
Top five FEED studies in progress include three projects circa 750MW in Europe.

Based on the fall in hydrogen stocks we've been seeing, I think all those running away from hydrogen stocks right now are running in the wrong direction. The companies keep reiterating their 2025 expectations for the scale of the opportunity so we've only got 2-3 years to see whose right...that's really close. For context, Plug Power restated their expectations for '23, '24 and '25 on Monday. Basically they're both saying the same thing, so either they're both wrong or the market doesn't get it yet.

I hope ITM have found some way to make their numbers bullish next month so we can start to drag this negative market back around.

Nel's Q1 results still seem a strong performance to me...
Q1 Revenue NOK213m (up 36% YoY)
Order backlog NOK1.3bn (up 19% YoY)
Top five FEED studies in progress include three projects circa 750MW in Europe.

Based on the fall in hydrogen stocks we've been seeing, I think all those running away from hydrogen stocks right now are running in the wrong direction. The companies keep reiterating their 2025 expectations for the scale of the opportunity so we've only got 2-3 years to see whose right...that's really close. For context, Plug Power restated their expectations for '23, '24 and '25 on Monday. Basically they're both saying the same thing, so either they're both wrong or the market doesn't get it yet.

"Plug’s 2021 acquisition of Frames Group, headquartered in the Netherlands, further supports our
goal to reach an installed electrolyzer capacity of three gigawatts by 2025. Plug continues to
combine its world-class stack technology with Frames’ systems integration capabilities to deliver
a range of turnkey electrolyzer solutions from 1MW containers to 1GW standalone plants."

I just hope that ITM are seeing all the same stuff that Plug are, because it still sounds like awesome scale to me.

The fact plug are reconfirming their outlook for '23, '24 and '25 should be taken positively, but we'll see.

I suspect the market will still shrug, say "loss-making", and sell off some more. If so, I think they are very wrong.

Andy Marsh just said something interesting... regarding electrolysers "Whoever has the production capacity will win".

Poor things. Never mind, they've got 3 years for the price to recover.

That's pretty funny. I wonder which online translator provided that gem.

Thanks Taskmaster, all good. Enjoying the contributions from a few new faces around here, as well as the 'old-timers'.

As others have mentioned, the lack of news-flow (i.e. orders) is tedious at best. Even the fairly regular reports of orders from Nel, Powercell, and McPhy are still disappointingly small scale. Maybe if I were to add them all up it's huge, but feels a long way from any sort of 10GW or 30GW goal set for 2030.

Plug Power report Q1 on Monday, so they could be next on the -25% kicking. Then Nel report their Q1 on Wednesday...so kick them too.

ITM's next results will be based on operations up to the end of last week, so that's all baked in now. My guess is they didn't have to change the batteries on their calculator, but we'll hear all about it in about a month from now.

If we do get pushed back into the low 200's I'll likely top up a bit. Targets may well be missed along the way but I'm still predicting a £10bn+ market cap a decade from here. Hope we don't get nuked off the planet by a madman next week.

Bloom Energy down nearly 20% today on perceived revenue miss. Could be rocky times ahead for us all if the market's going to be that strict on targets.