Hydrogenone Capital Growth Share Discussion Threads

[craigso] 13/11/2024 09:19

I suppose that receiving an EU grant is good news.

But it's a terrible time to remind the market that an investment making up 18% of NAV requires EU grants to scale up...

[slicethepie] 11/11/2024 10:38

It is the skinny response that is damaging, other larger investors in the project have provided a more comprehensive explanation. This inevitably leads you to question their understanding of capital markets

[craigso] 10/11/2024 16:15

It certainly does make sense that there could be a floor to the share price somewhere around here, based on the handful of assets that look particularly solid.

But as a DGI9 investor, I can attest that once the market stops believing NAVs - especially those that require follow-on investments to unlock - there's very little to be done except to hang on and hope for real, cash realisations - something I wouldn't expect in the hydrogen space. Unfortunately the optics are terrible here...

[pj84] 10/11/2024 02:06

Totally agree and thanks also to Kooba for posting the link and also The Oak Bloke whoever he or they are.

[31337 c0d3r] 10/11/2024 01:28

Very interesting article, thanks for posting that, PJ84.

[kooba] 09/11/2024 07:08

The oak bloke hTTps://theoakbloke.substack.com/p/2nd-largest-european-green-hydrogenAll fair comment but doesn't help investors p&l position and it's a long way back to even where they were on Thursday. Confidence in valuations has gone for now though..much to prove to demonstrate that valuations are realistic and ultimately achievable. The timing of all this relative to the robust and reasonable valuations narrative from the presentation 2 days before is very unfortunate but does expose that funded is only funded once it is received.

[c3479z] 08/11/2024 17:13

seems at least the proposed 1900km German hydrogen pipeline goes close to Sunfire's Lingen NUkleus project.

[neilll77] 08/11/2024 15:45

GEORGINA ENERGY [GEX] MAIN MARKET STOCK

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Absolutely EVERYTHING is in place and the CEO has
£3 million of own cash involved
Guaranteed drill!!!!!


*NT to buy @ 9.48p*
8.5% up and 20% in 2 days from the lows


This was a 12.5p RTO & PIs paid 19.40p back early August

[pj84] 08/11/2024 14:44

As a current holder saying I am disappointed so soon after the recent update emphasising the foundation of the NAV following the Gen2 sale is an understatement.

The shares were already on a 60% discount so a lot of bad news already in the price.

As the 8% holding in HH2E was already discounted to just 3.2p of the previous market cap the fall today of nearly 10p does appear to be harsh.

It is hardly surprising for those who decide to sell that there will be less demand by buyers to buy today and inevitably that means the price will fall to the amount the few buyers are willing to pay.

It also means a bigger discount is now being applied to the remaining portfolio holdings of closer to 70%.

I have decided to remain patient and to continue to hold, on the basis that the administration of one of the smaller holdings doesn't mean all holdings are destined for the same fate.

The NAV of Sunfire of approx 25p almost makes up the current share price of 28p on it's own and it wouldn't take a lot of growth for that to justify the share price on it's own.

Sunfire is one of the world's largest manufacturer's of electrolysers and this was from the RNS earlier this year regarding it's most recent fundraising: -

"The Company's Investment Adviser, HydrogenOne Capital LLP, believes this is a significant financial milestone for Sunfire, with EUR 215 million raised in a Series E equity financing round, further complemented by a term loan of up to EUR 100 million provided by the European Investment Bank ('EIB'). In addition, Sunfire has access to circa EUR 200 million from previously approved, undrawn grant funding to support its growth. The transaction is subject to customary regulatory approvals and is expected to close in Q2 2024. This makes Sunfire one of the best capitalised electrolyzer manufacturers in the industry.

Sunfire is an industry leader in alkaline and solid oxide electrolyser manufacture. Sunfire is expanding its alkaline electrolysis production capacity at Solingen and Limbach-Oberfrohna, Germany and developing advanced research facilities in Dresden. Sunfire's pressurised alkaline and high-temperature solid oxide electrolysis technologies have the potential to become key enablers of the transition to renewable energy, offering a scalable and efficient means of producing green hydrogen. Accordingly, Sunfire targets installing several gigawatts of electrolysis equipment by 2030 in large-scale green hydrogen projects, securing a leading position in the fast-growing global electrolyzer market."

[31337 c0d3r] 08/11/2024 13:13

To be fair, Foresight only pulled their funding yesterday, and HGEN reported it first thing this morning.

[kooba] 08/11/2024 13:07

Maximum 8% off assets leads to 25% off an already highly discounted share price looks harsh , but unfortunately it not only impacts on this holding it's now about the lack of trust in the valuation models ...those discounting future revenues without the funding in place are rather flakey as can been seen.Other holdings are further down the line or supported by recent fundraises one hopes will hold up but it appears Foresight has the foresight that using available cash to buy back shares at a huge discount is a better use of funds than committing more to investments that the market value so poorly it seems.

[grahamwales] 08/11/2024 12:13

Perhaps they should invested in ITM instead of going for foreign electrolysers.

[31337 c0d3r] 08/11/2024 11:47

Foresight Group pulled the plug on funding at the last minute, just before they were due to sign the "final agreement".

Is this u-turn because of Trump winning the election, and his "drill baby, drill" policy?

[brinton62] 08/11/2024 11:00

Have a look at FGEN. They where also involved in the funding and decided not to go ahead. Doens quite read likenthat in the HGEN RNS!

[jonesy100] 08/11/2024 10:49

A bit more detailhttps://www.h2-view.com/story/hh2e-files-for-self-administration-as-foresight-withdraws-funding-for-1gw-hydrogen-project/2117080.article/

[amt] 08/11/2024 10:10

Yes totally incompetent

[slicethepie] 08/11/2024 10:06

Unfortunately they are spenders and not investors imo

[wskill] 08/11/2024 09:24

Yes I agree just dumped the 52k I held if they lied about this what else could they have lied about.

[craigso] 08/11/2024 09:14

Very happy to have sniffed around this and passed.

Publishing a NAV including £11m for HH2E and having that go to zero two days later shows that management are either totally incompetent or are lying about valuations.

The floor on the share price is much lower than this...