Itm Power Share Discussion Threads

[sonic25] 06/3/2023 22:25

If ITM manages to execute their 12-month priorities plan and successfully establish key reference plants, this could mark a major turning point for the company and catalyse a powerful shift in demand for their products.

[sonic25] 06/3/2023 22:10

Hydrogen: A promising new energy carrier, but how can projects be financed?



"Banks will also ask if the technology selected for large hydrogen projects has been proven to work at scale. Having this confidence in the technology will promote the willingness of other stakeholders (offtakers, technology providers and the chemicals industry) to commit capital and banks will want to see this shared risk among all project stakeholders, at least for the first couple of projects. It is all a question of risk, but also delivery. Large projects require a lot of engineering hours and input. Does the project company have the experience to deliver within the timescales of the project?"

[5barney] 06/3/2023 16:16

Best Hope here with ghastly George trying to bust up anything good is that they rush it to 400 to get their losses back then bankruptcy
A very sad day
The disgusting man almost bust the Bank of England so Itm is small.
Imo he’s trying to bust anything uk for daring brexit as I’ve sad many times

[norbus] 06/3/2023 12:31

Get lost

The stench is out. Will now get the smell of roses through

[moontheloon] 06/3/2023 10:31

Well your play your cards right..

[brucie5] 06/3/2023 09:48

Complete takeover or insane valuation - take your pick.

[moontheloon] 06/3/2023 08:30

Complete takeover. Hmmm as cogitated

[grahamwales] 06/3/2023 08:14

The new boss of ITM Power has vowed to turn round the UK hydrogen start-up, overhaul a culture of “overconfidence” and regain the trust of investors and customers after the company became London’s most shorted stock.

Dennis Schulz, who arrived at ITM in December from the engineering arm of Linde, its biggest investor, has laid out a 12-month plan to revive the Sheffield-based maker of hydrogen-producing electrolysers, which has issued three profit warnings in the past year.




ITM was constantly in that mode of constantly fighting or putting out fires, which were emerging everywhere,” he said in his first media interview since taking up his new role. “Now we are slowing down and not looking for short-term fixes.”

The company’s valuation has plunged from £3.5bn in 2021 to £600mn after being hit by delivery delays for its flagship 24 megawatt electrolyser — one of the world’s largest.

ITM, whose investors also include Italian gas infrastructure group Snam and UK construction equipment maker JCB, is cutting headcount by a quarter, slimming its product range and introducing more thorough engineering processes.

The company’s turnround push come amid the fallout from the collapse this year of UK battery start-up Britishvolt, raising broader questions about the country’s ability to incubate clean energy champions despite the government claiming world-leading net zero policies.





However, the hydrogen equipment maker differs significantly from Britishvolt in already successfully developing products and securing orders, from customers including Linde, Shell and RWE.

Electrolyser companies, which also include Norway’s Nel and Germany’s Siemens Energy and Sunfire, are crucial to the hydrogen economy because they make the technology that splits the fuel from oxygen in water.

“Green” hydrogen, produced when the electrolysers are powered by renewable electricity, is seen as vital for decarbonising energy-intensive industry such as refineries and ammonia plants, as well as for heavy-duty transport.

ITM has raised £500mn, taking advantage of a frenzy in hydrogen-related stocks in 2021, but its cash pile is expected to fall close to £245mn this year with annual revenue of only £2mn.




The hydrogen mania has gone into reverse and ITM is now London’s most shorted stock, according to markets data site ADVFN, as inflation, supply chain issues and higher interest rates bite.

Renaud Saleur, a former trader at Soros Fund Management who now heads Anaconda Invest, is among the hedge funds shorting ITM, saying it has an “insane valuation”.

“The only danger in shorting it would be a full takeover by Linde,” he added.

Schulz, however, said his appointment was not a sign that Linde would attempt a takeover through the back door.

ITM’s Achilles’ heel has been transitioning from a company focused on research and development to a manufacturer that can deliver electrolysers on an industrial scale.

Competitors are sympathetic. “I don’t think it’s a question of the technology not working,” said Andy Marsh, chief executive of US hydrogen producer Plug Power, adding that “a lot of the growing pains are associated with moving to scale production”.

Richard Hulf, managing partner of Hydrogen One Capital, said that “we’re in this five-year period where hydrogen is starting to become mainstream and the clever ideas are having to be mass-produced”, often resulting in delays.

Schulz is aiming for the company to become profitable within five years.

On the factory floor, projects undertaken during the tenure of long-serving chief executive Graham Cooley are being unwound, with legacy products being dismantled for recycling. ITM will reduce its product range from 16 to three.

[bearhausen] 06/3/2023 08:13

Interesting watch!
hxxps://youtu.be/jxtxZY45RMM
Not a single mention of ITM, still a pocket change investment for Lord Bamford but overall positive!

[moontheloon] 06/3/2023 08:10

Market will like that

[moontheloon] 06/3/2023 08:10

Seem to be in sensible practical professional hands

[moontheloon] 06/3/2023 08:08

Anyone got the text to post please

[skinny] 06/3/2023 08:05

Graham - a good read - thanks.

[grahamwales] 06/3/2023 07:29

Link may or may not work.



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What was the most shocking to me was the amount of products which ITM has been working on,” Schulz said.

Their removal will make way for robots and focusing manufacturing on the “stacks” that contain the special membranes in electrolysers rather than the container units that house them.

[moontheloon] 06/3/2023 07:26

Oh he will certainly help them expand to the point of destruction and barely anything tangible manufactured. Don't know how he's got the balls to get involved in other things after such a catastrophic failure. Thick skinned or thick headed. Take your pick

[moontheloon] 06/3/2023 07:24

https://www.linde.com/news-media/press-releases/2023/linde-to-increase-green-hydrogen-production-in-california

[folderboy] 06/3/2023 07:18

Getech (AIM: GTC), the geoenergy company and owner of hydrogen developer H2 Green, is pleased to announce that Dr Graham Cooley has today been appointed as Chair of H2 Green. Graham will assist H2 Green to expand and develop its portfolio of hydrogen and renewable energy projects and maximise its potential as a 'pure play' UK project developer.

[grahamwales] 06/3/2023 07:12

Cooley found yet another trough to get his nose into I see.

[norbus] 06/3/2023 01:46

Laurence Fletcher in London ... The new boss of ITM Power has vowed to turn round the UK hydrogen start-up, ...
Harry Dempsey , FT. probably Sarurdays paper. Schulz endorsed the article as fair

[5barney] 05/3/2023 19:13

hxxps://youtu.be/jxtxZY45RMM
Metcalf with the lord giving Gh2 a pump
The great Richard Tice who will carry my family’s vote in the election tried hard talking to sone renewable woke fool today as well The wokester didn’t even know what Tice was talking about that’s what your up against a total lack of promotion.
As I said someone from Itm should have been on tv and radio daily during this crisis
They needed me. Too late now

[gimmethefax] 05/3/2023 18:27

Does anyone have access?

[moontheloon] 05/3/2023 10:32

From norbs post ..."He was supported by Anne Valentine Andrews, the Australian head of real assets of US fund giant BlackRock Alternative Investors, whose investments include the Waratah Super Battery in NSW, the largest of its type in the world."The capital is moving," she said. "The scale if opportunities is increasing exponentially."Our recent nemesis black rock makes you wonder what the long game is? Break the market ..ride it up .... Provide cheap fry for the big fish ? And another thought.. seems to counter my fear that foreign companies won't get much of a look in into the u.s buy national policy. Maybe even easier if European companies might be picked off? As this grows, and we're relatively cheap my guess is anything could happen.