Member Info for toneman

I see. I don't think you have to worry about that Doli, they put out the same RNS at the beginning of every month.

Doli, where did you hear this possibility?

I'm a bit confused as to whether the H2 airship is supposed to be delivering its 'lifting' H2 as part of its cargo. If that is the case then how does it make its return journey? Surely it would need the same H2 for lifting for the journey back.

I can't remember if ITM are already involved in this project, but Nel just received an order for 5MW of it.

https://nelhydrogen.com/press-release/nel-asa-receives-purchase-order-for-5mw-alkaline-electrolyser/

I read that piece, and I always find it interesting to read the comments section. Is it just that the haters are more vocal, or are they actually the majority view? It's always the same set of concerns, leaks, explosions, less energy out than in, climate change hoax, etc. Most of the 'facts' have either been debunked or are just not relevant to the argument yet they appear time after time. Oh, well. In the end they will be proven wrong, but I don't think they'll accept it even then.

Why is it that with so many politicians reading for a degree in history they still keep repeating the same mistakes ?

Dunno Doli, but I was thinking 5% = $2.6bn annual sales is pretty good compared to little more than $5m today. 520x in 8 years would be a pretty good start wouldn't it? Serious question - what are your numbers?

... I mean as a customer - not to teach - obvs.

Doli, have you ever considered one of these?
https://www.elitetraining.co.uk/positive-thinking-training-course *

* no personal affiliation

Anne-Marie Trevelyan has a new role, so who's now in charge of clean energy?

As a tribute, I'm channelling my inner Paul Revere...

Anyway, Plug Power has announced a further expansion of their European presence.
https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2021/Plug-Power-Announces-Expansion-to-Europe-with-German-Headquarters/default.aspx

"The initial 70,000-square foot facility will house an innovation center with engineering labs and technical support, a monitoring, diagnostics and technical support center, a green hydrogen generator with an electrolyzer infrastructure on site, a shipping, inventor and logistics center, and a training space. The expansion to Europe will allow Plug to serve new and existing customers, while building relevant partnerships with leaders in hydrogen application."

Doli there are plenty of other companies in this space you could switch to. They've all dropped about the same percentages this year so you could choose one you like and consider it a no-loss swap. Something to consider anyway if you like the sector but just lost faith in ITM's ability to deliver. There's no shame in that.

Over on the news feed...
BERENBERG CUTS ITM POWER TO 'SELL' ('HOLD') - TARGET 350 (400) PENCE

Seems like a pretty short-sighted view unless their crystal ball is telling them that hydrogen will not play a big part in the future. Brave call in my view.

Not exactly happy about it taskmaster. But I've crunched the numbers quite a lot and, with the restrictions of our capitalist economics and democratic politics, it's hard to see how it can be anything other than a few decades of transition. Blocking a few junctions of the M25 is not likely to change the bigger picture. Personally I'd prefer an approach that gets all the public onside. This particular sort of protest is more likely to draw out the utterance "Nutters!" from those it has affected. It might have had more effect 10 years ago, to get the publicity, before climate change was 'apparently' firmly on the agenda. Greta Thunberg has almost single-handedly had more impact than these protesters.

The reason I mentioned capitalism and democracy (both of which I'm a fan off) is that I think the only system that could (but probably won't) implement a faster transition is a Communist one. And that's only because they have the ability to redirect the population en-masse down a different path. I wouldn't trade capitalism and democracy for communism any day of the week, therefore it's down to getting the people onside if you want real change. If you think that's through disrupting their lives then, sorry, I don't agree.

I know there's still a long way to go and a lot of greenwashing is still happening, but I believe that change is actually happening. Is it fast enough? Probably not. Unfortunately even fast change is likely to be slow enough that many don't even recognise that it's happening at all. That's my concern about these sorts of protests - i.e. will they recognise once enough change has happened and then stop blocking our lives?

The only thing that can justifiably move the market on today's results is anything different since they were first presented back in June, and any change in outlook. I've had a look through both releases and the only two things that jump out are:
1. A clarification that current year products/production revenue, based on circa 50mW, will be heavily weighted to H2 2022. The previous statement suggested revenue would be recognised in YE 30 April 2022. So that means more low figures to be presented for Oct '21, Apr '22 and possibly even to Oct '22. If that's the correct interpretation then it gives a short-term negative outlook for anyone not 100% confident in this space.
2. The Tender Pipeline constitutes 1011MW of potential electrolyser demand, up from 593MW reported back in June. Unless they've adjusted the way they measure the pipeline potential that's a 418MW increase in Tender opportunities in about 3 months (+70%). On the negative side ITM's share of this Tender business is only £378m and increase of only £14m (+4%). One of the analysts earlier this year readjusted their outlook for ITM based on their previously misunderstood allocation between Linde and ITM in the partnership. I guess this might reflect exactly what they were worried about - ITM's share of the pie might not be as high as first thought. However I would still point out that the pie will eventually be absolutely enormous and I'm confident that ITM's share of it will still be significant.

They always expected it to take a few years to fill the factory (I think 2025 was their estimate) and around 2/3 capacity was the trigger for second factory decision. I don't think anyone every mentioned August, but we could start a new rumour and pencil in August 2023.

It's not without precedent tennents. There have been a number of times in the past that we get a "no news good news" RNS just before a reporting day (Monday 13th Sept) and it always seems to be an attempt to paper over the cracks that there's really nothing good/important to report. I think Bilbs' weekly count will be reporting zero again.

Sounds expensive. I hope it makes them super-productive. Fingers and toes tightly crossed.

Kamakiriad, surely the turnover is only going to show the same figures they published on 10th June.

"Expected Total Revenue £4.0m (£5.4m) for the year to 30 April 2021, impacted by Covid-19 and IFRS15 recognition rules".
https://www.lse.co.uk/rns/ITM/trading-update-3p1rjwkd920l7e7.html

I know those were unaudited, but I don't see how they would increase greatly...if at all. 13th September is all about formally publishing those results. Their next financial record-keeping isn't until end of October.

What I think will be important is to hear that they are on track to fulfill the circa 50MW of electrolysers by end April '22. A bit optimistic to expect them to exceed that if Bilb's order tracker is correct.