Itm Power Share Discussion Threads

[barnes4] 19/7/2024 07:40

Can’t wait for 8am

Am making so much money on this 🚀🚀🚀

[grahamwales] 19/7/2024 07:27

Not sure what you mean there moon?

[moontheloon] 19/7/2024 07:20

This doesn't mean any UK manufacturing isn't complete as stacks. And that day they were on the stuff for Germany or elsewhere.

[grahamwales] 19/7/2024 06:52

Gimme

Its on Linkedin

[pj84] 18/7/2024 23:30

yachtmaster2



The main thrust of the article is based on the views of Michael Liebreich, an independent energy consultant who doesn't think the cost of producing hydrogen will ever reduce enough to be economic.

The following are some snippets: -

"Across the West, politicians have pledged to meet ambitious climate targets partly through developing different sources of the fuel, such as “blue” hydrogen made from natural gas, and “green” hydrogen derived through electrolysis of water.

Collectively, they have pledged to produce millions of tonnes of hydrogen in the coming decades – despite there being no proven path to doing so commercially."

...

"...the European Union was told that its plan to make and import 10m metric tons of green hydrogen by the end of this decade was unrealistic as well – despite the bloc making €18.8bn (£15.8bn) available for a slew of projects.

The European Court of Auditors dismissed the target as one based on “political will” rather than concrete data, and said it had been partly spurred on by lobbyists.

While Brussels wants to have 40 gigawatts (Gw) of electrolyser capacity by 2030, it is only on track to add 5Gw at the moment, according to the court."

...

"“The underlying problem is that while all these hopes and dreams for hydrogen have been peddled, the economics just do not stack up,” he says.

“From an engineering perspective, you can do all the things that everyone is talking about – every single thing.

“The problem is, you can’t pay for it. And the amount that is missing is not a small amount. It turns very quickly into trillions of dollars that are simply not there.”

...

"The first issue is simple physics: converting other things into hydrogen is energy-intensive and means the final product, by definition, ends up being more expensive than the things you used to make it.

This means it is costly to make. And producing hydrogen in very large quantities would mean building more wind turbines, solar farms and electricity pylons to power the necessary electrolysers, on top of those you need for generating power – at a cost of many hundreds of billions of pounds.

For this reason, Greg Jackson, the boss of Octopus Energy, a proponent of heat pumps, has compared using hydrogen for home heating to “flushing the toilet with champagne”."

...

"“But the physics of hydrogen has cost implications right the way throughout the chain. It hits you in the production, it hits you in the transportation, it hits you in the storage and then it also hits you in the usage of hydrogen because it is bulky and dangerous.”

At the moment, the case for subsidising green hydrogen in many countries rests on a hope that costs can eventually be driven down to $1 (77p) per kilogram.

This is the goal of subsidies of up to $3 per kilogram lavished on energy companies by Joe Biden’s Inflation Reduction Act in the US.

But because of its physical limitations, there is no certainty prices will ever reach this ultimate goal, Liebreich has argued, with developers needing to spread their costs out over 10 to 15 years. And even if it comes down to $2 per kilogram, that still leaves huge unaddressed costs when scaled up to tens of millions of tons.

In the UK, the Government announced £2bn worth of subsidies for 11 projects last year with a total capacity of 125 megawatts and an average strike price of £241 per megawatt hour.

Hinkley Point C, the 3.3Gw nuclear power plant being built in Somerset, received a strike price of £92.50 per megawatt hour.

“People say there’s an experience curve,” Liebreich says. “That argument absolutely applies to the electrolysers, which will probably get very cheap … but [the majority of the cost comes from] the electricity and compressors, and pumps, and tanks, and heat exchangers, and substations – all that basic engineering.”"

...

"Hydrogen also still features in every potential pathway to “net zero” carbon emissions laid out by the National Grid ESO, in a report published on Monday. It says Britain will need 6 to 36 terawatt hours of hydrogen per year from 2030, rising to between 138 to 393 terawatt hours by 2050.

GB Energy, the state-owned energy company that the new Labour Government has pledged to create, is also expected to invest in hydrogen schemes."

Please don't shoot the messenger I am only posting it as requested.

In my view most of us know that hydrogen isn't going to be the only solution but it is definitely going to be part of the solution and no one knows yet what percentage of the final energy mix hydrogen will be in 2050 and beyond but the market opportunity for ITM and others is real and growing.

My energy supplier is Octopus but I for one don't share Greg Jackson's view on heat pumps and have no desire to have one fitted.

[gimmethefax] 18/7/2024 20:51

Do you have a link for that quote, please, Graham?

"All of the projects we are building today are for the export market..."

[gimmethefax] 18/7/2024 20:50

Something about baby steps and giants?

ITM Skunkworks?

The mind does boggle.

[gerry123] 18/7/2024 17:19

People may have forgotten that ITM have prototype fuel cells and a patent for a Reversible Electrlyser/ Fuel cell
The mind boggles at the market for a 5Mw reversible electrolyser/ fuel cell to smooth demand for wind power

[grahamwales] 18/7/2024 16:58

ITM had some more visitors today.


Really enjoyed showing the UK Export Finance team around the ITM Power factory today. All of the projects we are building today are for the export market, so having Tim Reid, CEO of UKEF, and the wider team here to understand what we do and discuss potential options with Dennis Schulz was hugely worthwhile and offers some real advantages for UK exports - more to follow!

[yachtmaster2] 18/7/2024 16:25

Thanks Skinny

[skinny] 18/7/2024 16:18

See post 32477.

[yachtmaster2] 18/7/2024 15:44

Has anyone read the article in the Telegraph?
“ How the wests big bet on hydrogen fell apart “
Unfortunately I don’t have access.

[sbb1x] 18/7/2024 15:39

Share price looking ugly again

[grahamwales] 18/7/2024 13:41

Was thinking of the Rostock one and the July 23 announcement.

Might be completely different of course.

[skinny] 18/7/2024 13:36

A handy reference :-

[grahamwales] 18/7/2024 13:24

Just keeping my eye on another potential 100mw electrolyser in Germany. If I find anything interesting will post 😬

[moontheloon] 18/7/2024 08:06

This has got to be Incredible value here. To invest and hold

[moontheloon] 18/7/2024 08:05

I think Barnes just follow british bulls as they're currently short. They have a dire record of forecasting itm fortunately

[gimmethefax] 17/7/2024 22:19

Remember the little Motive electrolyser at Tyseley?