Itm Power Share Discussion Threads

[institutional investments] 14/8/2023 07:18

Well of course increases a runway

Its the passengers on the flight out that's the problem

[garybrandon] 14/8/2023 07:18

Shorters at the level that ITM have always know if bad news well in advance!

[moontheloon] 14/8/2023 07:17

Should imagine it's the others 30m that will be the cost...? Which increases itm runway

[garybrandon] 14/8/2023 07:15

Chances are that ITM have had to buy themselves out of the contract to exit the deal, this would have been known to the big shorters of stock !

[mj10] 14/8/2023 07:14

motive gone but no mention of price

[moontheloon] 14/8/2023 07:08

So what price? Just take 30m back and let them have it? Surely a figure should be mentioned?

[skinny] 14/8/2023 07:01

At the time of our Interim results presentation in January, ITM announced a review of strategic options for the exit from Motive Fuels Ltd. We are now pleased to announce that a non-binding Heads of Terms agreement for the sale of the company has been signed.

The Joint Venture was established in March 2022 to develop and roll out hydrogen refuelling stations in the UK. The vision was one of building a significant UK refuelling business, with GBP30m committed by each JV party as seed funding. However, one of the three priorities of our 12-month plan is increased cost and capital discipline. The planned transaction will allow ITM to redirect GBP28m of pre-committed cash to our core business, and to focus on becoming a volume manufacturer of state-of-the-art electrolysers.

The transaction is expected to be completed in this calendar year.

Andy Allen, CFO ITM Power, said: "The sale of Motive will allow us to devote our time, attention and capital resources on our core competencies, to ready the business for scaling up to capture the significant growth opportunities that lie ahead of us. Motive has been an important part of ITM's journey, and it is important to us that the business will be left in capable and ambitious hands."

[grahamwales] 13/8/2023 22:36

Linde are a massive company and we’re relying on Cooley to deliver.

I think Refhyne was the last straw.

[grahamwales] 13/8/2023 22:35

This is quite clearly Dennis’s plan 100%. Yes he has the full backing of Linde which is paramount to him reaching his goals.

Do not underestimate German engineering skills he has also brought with him knowledge of what a customer wants and not what Cooley wanted to give them.

Let’s see what he has to say on Thursday you might find it interesting to say the least.

[yachtmaster2] 13/8/2023 18:57

Do you really believe Linde were oblivious to previous management shenanigans?

[yachtmaster2] 13/8/2023 18:53

I admire your optimism Graham. How or why do you think this will happen? There has been a lot invested in Sheffield. Do you believe that this is Linde,s or Dennis, plan.
Why not just buy the rest of the company out if it’s so important to their future? The share price is hardly toppy at present.

[grahamwales] 13/8/2023 18:32

ITM will come good Hydrogen in this country will not. Hopefully ITM will consider moving operations within the next couple of years if not sooner.

[yachtmaster2] 13/8/2023 18:28

Apologise if waffling but been drinking this afternoon!

[grahamwales] 13/8/2023 16:16

Said it before will say it again batteries for HGV’s will not work. Majority of vehicles run for 300,000 to 500,000 miles even further. At best batteries last maybe 200,000 miles if lucky. Cost of replacement probably between £70k to £100k.

Motors are an unknown but will need replacing couple of times I guess.

[skinny] 13/8/2023 10:25

From the horses mouth :-

[grahamwales] 12/8/2023 21:59

Couldn’t have said it better myself

[moontheloon] 12/8/2023 20:43

https://www.theguardian.com/environment/2023/aug/11/fiddling-while-europe-burns

[grahamwales] 12/8/2023 18:33

Blackrock reducing short.

I guess you can’t promote green energy in one hand then short a green energy company in the other.

Just a shame this UK government is run by oil companies.


What is BlackRock, the investment giant supercharging New Zealand's green energy sector?

[grahamwales] 12/8/2023 14:23

If the plan is to ban gas boilers however there are no alternatives. Heat pumps are expensive and not exactly green

I’m sure gas boiler manufacturers will be pushing for blended hydrogen.

UK: Wood to design the future grid with National Gas

[albert35911] 11/8/2023 16:19

Who is going to buy those sells,I bet the mms know.