 I'd say the LCOH produced by ITM machines is still way higher than the currently available alternative fuels. ITM claims lowest cost of green hydrogen. The Benchmark.
Therefore we can presume, at this stage, that the hydrogen produced (if being used as a replacement fuel) is a cost for the customer, and no value is actually created there, yet.
... most investors get up and leave the room at this point ...
This is what makes the business plan tricky, a gamble even.
But we know this already. We are comfortable with such insanity, are we not?! Or are we deluded?
... only the psychopaths remain in the room ...
So, ITM currently create value by other means, for example, 'we can help keep the ESG cartel off your backs for a little longer if you switch to hydrogen'. Danger!
But, if a man has a gun to your head, pretty much everything that will cause you not to die is of enormous value - I am sure you would pay the price!
So, ITM Power need to do a really good job of showing WHY a customer would choose to pay this premium, and show how this business is sustainable - even when the current politics change - which they will.
We have discussed the benefits, and the value, here, qualitatively, for years!
Only the Company can present the true investment case, quantitatively.
If this value is not presented well then I see no reason for the value of the company to increase - why would it?
We are still sitting, waiting impatiently, listening. |
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