Member Info for toneman

Happy Hydrogen Day everybody.

...although I'd have been a little happier if ITM was holding above 300p. But hey, maybe when America wakes up to celebrate their big Hydrogen day we'll take off again.

Colonel, Plug Power joined the electrolyser market a few months ago with their recent acquisition so they may be worth adding to your list. I would mention though that as with the other hydrogen stocks it's been on a rapid gain recently.

On a side note - tomorrow is National Hydrogen and Fuel Cell Day in United States.

I heard somewhere that "direct injection with disinfectant could work. It kills it in, like, a minute. One minute. You're going to have to use medical doctors for that, right". Oh boy!

- Caveat - I can't believe there would be anyone who doesn't know where this suggestion comes from. I can't believe I even feel I have to say this but ........ DO NOT TRY THIS.

Thanks tennents. Agreed. I am ever hopeful. All the best.

Roguemale1, please explain as per your comment "Are you being deliberately misleading to people who don't bother reading the accounts?" . You then go on to copy and paste the Jan 2018 results. How are the results for the year 2017 supposed to help here?

tennents, I agree with you. I am slightly more hopeful though that there are a great number of service engineer jobs that will be locally employed. And servicing those big beauties will be a job-for-life for any young apprentices lucky enough to embark on that career path today. The government don't really care about which company actually own the equipment as long as they do employ local staff at some level. Income tax, NICs, and VAT make up nearly two thirds of our tax receipts (I think) whereas there's always a scheme or two available to companies to reduce their corporation tax.

Maybe he'll double down or go all in on a new price target of 75p.

longtimeinvestor, that's fine, I'm not here for an argument.

Semantics. Retail investors only subscribed to 43.63%. The fact the rest was underwritten is not particularly impressive. Call that 100% if you want.

longtimeinvestor, I wonder if you're missing my point. All I was trying to point out is that it's perfectly possible for the company to survive, but sometimes it's with a totally new set of shareholders after the first ones get sidelined. The recent issue was only half subscribed so the rest of the funds come from elsewhere. If another round of fund-raising is required in case a vaccine doesn't arrive fast enough chances are that the fund-raising will fail. In that case new owners are sought and all the existing debts are written off along with the existing shareholders. I'm not saying it 'will' happen here, but it's an absolute possibility. There is a lot of talk here about a great upside, which is fine, but so is the alternative. It doesn't matter to me either way, but I've been there before and unfortunately it does happen.

Ok, so more laughs for you Doria. The two biggest that spring to mind, Carillion and Debenhams. I was convinced that Carillion would be rescued (too big to fail, haha) because of all its government contracts. In the end it essentially was rescued in the form of all the employees being taken on by competitors and all its previous work still ongoing just be different contractors. It's not like the work-load had disappeared, just not being done by Carillion and all shareholders wiped out without even a say in the matter.
Debenhams I bought into after Mike Ashley invested 20%. But even he wasn't a powerful enough shareholder to be allowed to take it over and probably out of sheer bull-headedness the board just let it collapse instead. Again all shareholders wiped out and new owners sweep in to pick up the pieces.

Doria, looks like we're in completely different phases. I bought into Saga mid 2018 at 115p thinking they were going to get the company in order. Mid 2019 I doubled down at 53p to 'halve' my losses (don't laugh). I then doubled down again at 33p. It was all going ok and recovered back up to 60p towards the end of last year and then the virus hit. Stupidly I forgot how tied up it was with cruises as I'd invested primarily as an insurance company not holidays, but to be fair it was already down at 15p anyway. If it survives you're onto a winner at your price. It's got a long way to go for me.

No problem doria1943, just voicing some of my previous disappointments from shares which were also 'bound' to recover. They were large companies too, paying nice dividends, arguably 'national institutions'. Anyway I hope this one does recover. Maybe I'll get my investment back. All the best.

It's worth remembering that Government is not expected to purchase, own or build all the windfarms themselves. That's what our money is for as investors. All we really need from Government is a guarantee that approvals will be granted and that the rules won't change half way through. If our companies are confident they'll get a profit then they'll happily use our private money to build it all, grow into world-beating conglomerates and we'll be rewarded by growing share prices and/or fat dividends. I don't know why the media has to keep misunderstanding how private business operates. It doesn't really need any money from Westminster, just a plan of action and the necessary rules and laws to allow it to happen smoothly...oh, yeah, and a few tax breaks so we can compete with the foreign subsidised companies.

This will be interesting to watch (although a little painful as I am a shareholder, but I've written it off now). I own another share that consolidated like this and within a few weeks it was right back down in the pennies again. Be careful, this could go south very fast indeed. Saga may well have an insurance business and a brand, but if those customers start to feel the company's going bust then they'll insure elsewhere too and before you know it the insurance business fails too.

I've learned a couple of things from the bust companies I've held. As a shareholder you own nothing and you have zero say in the company's future. The company invariably continues, under new ownership, long after your shares have been wiped out. Best of luck to all still invested here, but just a word of caution, there's no guarantee this will survive. I accept risk versus reward, but just be aware the risk here is annihilation versus a long, long road to (possible) recovery.

That's the perfect combination...Jo gets his buses and ITM deliver the fuel. Great.

After Boris commits to 40GW of wind by 2030 there will be plenty of times of excess generating capacity this decade. Even Kwasi should be able to see it then. Even if he still thinks electrolysers are not good enough can he seriously just continue to shut the turbines down at those time, surely not.

In this morning's fringe meeting on hydrogen I just asked whether the Government recognise that offshore wind should generate green hydrogen with their excess rather than pay them to shut down. I was disappointed by Kwasi Kwarteng's response where he seemed not to recognise that wind has significant periods where the energy is not used, but worse was his comment that electrolysers are not currently good enough. I think he is a strong CCS advocate and is 90% focused on Blue hydrogen.

I got a strong sense from Nadhim Zahawi this afternoon that we will see a comprehensive backing for UK hydrogen before the end of the year. If/when it comes through it may not do much for our share price because by now it already feels like it would be considered 'old news' as so many other countries have stolen the march on us again...but let's see.

Jo Bamford was once again very persuasive in his arguments and commitment to all things hydrogen, even putting up a good argument why an EV charging network is likely a big waste of time and money. I think Jo's great and I wish he was more specifically on ITM's team.

In the second hydrogen-specific fringe meeting today Nadhim commented that this was his third meeting today and that although the previous two were not specifically about hydrogen the conversation turned to hydrogen anyway. Maybe the MPs are starting to get the picture.

...in USA. Do we have one?
http://www.fchea.org/h2-day-2020