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Posted at 24/4/2024 12:10 by grahamwales Inspired move by Linde appointing Dennis. Bringing German and UK technology closer together.Let’s not forget. Dennis Schulz, CEO of ITM Power, said: As the UK’s only commercial electrolyser manufacturer, we are welcoming this cross-border collaboration agreement. An effective hydrogen economy can only take shape if countries form alliances like this one. Germany is a very significant market for hydrogen and for ITM Power. We are currently building several hundreds of megawatts of electrolyser capacity for projects in Germany, some of which are among the biggest projects in the world. In October, we will open our new office and EU after sales hub near Frankfurt that will further strengthen our links with our customers and partners in Germany and the wider EU. |
Posted at 20/4/2024 12:02 by grahamwales Linde have a 16% holding in ITM. I'm sure when the right work comes up they will opt for ITM electrolysers. As Dennis has already stated they are working with Linde on current projects and pricing work with Linde.As for being tied to Linde don't think that is a bad option but again ITM are carrying out FEED studies of their own. Someone recently said its not a sprint but a marathon (DS)and getting the right work and price is something that the previous CEO didn't seem to do. As long as they can show that revenues are increasing and costs dropping the market will react accordingly. |
Posted at 20/4/2024 11:52 by willoicc The question is, are Linde giving work to their own organisation at ITM's expense?I am just wondering about ITM being dependent on Linde but Linde does not seem to be putting much work ITM's way. How can ITM compete if Linde know so much of ITM's inner workings? |
Posted at 19/4/2024 19:51 by grahamwales They are not ITM’s partner they are a subsidiary of Linde plc. They have no affiliation to ITM. |
Posted at 26/3/2024 22:07 by adobbing ITM Power And Sumitomo Complete Installation Of First Of Its Kind Demonstration Electrolyser In Japan.ITM Power is pleased to announce a milestone in its collaboration with Sumitomo Corporation: the delivery and installation of a NEPTUNE electrolyser at Tokyo Gas Co Ltd’s Yokohama Techno Station. This unit marks the first deployment of a megawatt-class PEM electrolyser made overseas and imported into Japan. Manufactured by ITM in the UK, and shipped to Japan, the electrolyser is now installed. After commissioning, the hydrogen produced will be utilised in the e-methane production of Tokyo Gas. This is an important milestone on Japan’s journey to carbon neutrality by 2050. |
Posted at 26/3/2024 09:18 by grahamwales Bit of news from LinkdinITM Power is pleased to announce a milestone in its collaboration with Sumitomo Corporation: the delivery and installation of a NEPTUNE electrolyser at Tokyo Gas Asia Pte. Ltd.'s Yokohama Techno Station. This unit marks the first deployment of a megawatt-class PEM electrolyser made overseas and imported into Japan. Manufactured by ITM in the UK, and shipped to Japan, the electrolyser is now installed. After commissioning, the hydrogen produced will be utilised in the e-methane production of Tokyo Gas. This is an important milestone on Japan's journey to carbon neutrality by 2050. Dennis Schulz, CEO of ITM Power, stated, "ITM is proud to work with Sumitomo to support Tokyo Gas in advancing hydrogen technology deployment in Japan. We are keenly observing the wider developments in Japan, such as the government’s CfD style support scheme, which could see Japan emerge as one of the most fertile countries for green hydrogen projects in the region.” |
Posted at 19/3/2024 22:34 by danvandan barnes, no I will not. Think about this; a few weeks ago ITM put out a set of results that showed how the business is getting very close to break-even and thereafter, profitability. It's no longer years away. It could be just a matter of months, if a few of the big projects actually get started, assuming that ITM wins contracts.When they put out those results and the presentation, the shareprice went up dramatically. At the time, I thought it was strange that the hedgies shorting this didn't exit. Not only have they not exited, one of them actually increased their short. Why do that when all the evidence points to the shareprice as having already bottomed, and the company's prospects look good? Look at the number of just small green hydrogen projects that are getting government funding support - HAR1. Two or three of these would transform ITM's profitability. All are in planning limbo. But there are so many, plus the Linde partnership, that ITM looks like an obvious high value business. They've got enough cash to run without ANY profits for at least two years and maybe more. But despite all of that, hedgefunds felt that increasing their short was the right thing to do. Why? It can only be because they are confident that they have found a small publicly traded business with plenty of small investors who will sell if the shareprice hits small investor stops. The chart is stop-hunting every day. Sell a little, trigger a stop, then the small investors sell and start a chain of selling, more stops triggered. When the selling stops, sell a little more, find new stops, and so on. This will go on until something big happens. The share price could be 45p in a week. It takes a big institutional investor to just buy up every sell. When the hedge funds meet a big institution on the other side of every trade, buying everything they can sell, then they will not be able to manipulate the price down and they might think about exiting. |
Posted at 22/2/2024 04:11 by moontheloon USA?UBS sees upside at Ceres Power, ITM PowerPublished: 09:3 |
Posted at 15/2/2024 21:15 by gimmethefax We don't always have to agree, but its good when we do; there are none better placed.Nice surprises are always welcomed, so I agree, understating things would be pretty norm, for a business man of quality - always better to over-deliver. Cost is becoming more and more important, and, as you know better than any, the uniqueness of the ITM stack puts ITM ahead in that regard. They can't compete. Dennis shares with us that the competition are raising prices, ITM didn't have to - evidence. I would say ITM will indeed raise prices over time, but this is our advantage - best in class - with the freedom to squeeze. As GW highlights on the other thread, Plug Power ('the behemoth', the hydrogen darling, lol) is a full year behind working through teething issues, and still seem to be coming down from the fantastical hype that came with all things green hydrogen (it got us all). They all might get squeezed out if pricing becomes super competitive. They just can't compete. Did we get status updates for Leuna and/or Yara reference plants? ... Forgive me, I did watch the presentation, but was on the go so didn't really catch it all properly. |
Posted at 05/2/2024 14:55 by danvandan LaMorgan3 Feb '24 - 22:45 - 31137 of 311770 6 0 Something for the brokers and analysts to consider; the post after this one lists the HAR1 funding awards (HAR1 is mentioned in passing in the ITM results presentation). The HAR1 results were announced in December. HAR1 is govt funding to subsidise the cost of hydrogen projects - it doesn't pay for the whole project - it's a contribution to reduce the cost of the green hydrogen so that it can be sold to customers at less than the fossil-fuel equivalent, making carbon-zero the best economic option. HAR1 involves smaller projects, though some of these have potential to become large projects (200mw and more). HAR2 is for bigger projects and applications will be in by mid-April this year. Some of the original HAR1 applicants withdrew from that funding application so that they can apply for HAR2. The HAR1 projects look like they COULD account for substantial yearly revenue for ITM; my guess is that these projects alone might be worth around ten to twenty times ITM's revenue for the current year. Anyone with an INFORMED view on this? Presumably an ITM electrolyser comes with a service and maintenance contract. I imagine they have telemetry that lets ITM know when a problem is emerging before their customer calls them. Also they seem to upgrade older units. I've seen a few numbers on contract values in the press from a few years back - am guessing prices have come down since then. Most of the HAR1 projects could use ITM units. They're not the only suppliers of this technology, but ITM is UK-based with a class-leading product and a technical workforce within driving distance. Buying Chinese seems risky (if they invade Taiwan they'll likely end up embargoed like the Russians). The European firms (Siemens etc) seem to be closer competitors. But if ITM only manages to achieve its current market share (33% in Europe) in its home market, it might more than double revenue from HAR1 projects alone. I expect we will hear contract announcements throughout this year that give an indication on revenue. |
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