Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
Oh I see. Ta.
In an article in FT dated 14th September there is a para:
"It (ITM Power] hopes to ramp up capacity to 1.5GW per year by 2023 at its flagship factory in Sheffield, up from previous plans for 1GW. Its remaining capacity will now come mainly from factories outside of the UK."
Factories outside UK?
Any thoughts on what factories they're referring to or has the author made a mistake?
https://www.ft.com/content/24ff198d-9ee1-4ed4-9164-4623fb371801
Odd. Is there more information on this alleged internal document?
After all, Shell's intention (whether achievable or not) is on their own website:
https://www.shell.com/powering-progress/achieving-net-zero-emissions.html
This terrific news.
Bilboburgler: Good calcs.
I know you mentioned diesel efficiency, I believe real-world engine efficiency is around 35-40% conversion to Work (energy) give or take for a good engine.
The theory says higher but Physicist don't live in the real world :)
Then assuming it's diesel-electric you have to account for the generator and associated gubbins, say 90+% ?
Assume the motor + gearboxes + gubbins is similar regardless of energy source.
So, it may require less H2 equivalent.
Anyway, I probably got that wrong so regardless, this is an ideal application. Fingers crossed.
Some months ago I was at my local Dorset pub and was 'surrounded' by 3 very vocal members of Extinction Rebellion who had driven down from Town.
The loudest one said he drove a V8 Landrover but added that he wanted a BEV.
I couldn't help myself from engaging and discovered they had no idea about the 'colours' of hydrogen and had no idea about the CO2 required to make an automotive battery.
They had little interest in the mining impacts but I'm sure their motives are admirable.
I'm afraid hypocrisy, double-standards and ignorance surround us.
Often that includes the people who criticize others for hypocrisy, double-standards and ignorance.
Sadly, that regularly includes me so bilboburgler is spot on with his Sherlock comment.
Anyway, generally, the increasing promotion of hydrogen is positive.
Very interesting. A full debate on that would fill up this board :)
Ah yes, that is more like it. Solar stocks fell off too I see.
Don't know for sure but there were mutterings/allegations about insider selling by CEO very recently. He denies any naughty activity. Maybe this upset a lot of people causing a panic?
Perhaps something completely different but ITM drooped minutes after US opened.
True.
If only...
Some decent contracts, some commercial momentum and some infrastructure good-news would help more than a couple of scorching days.
I guess patience is needed but it's blinking difficult. It's all bit speculative in the very near term.
Is hydrogen or ITM involved in this? I don't understand relevance to ITM.
Very interesting. Towards the end did he say ITM-Linde had a total of 3 "handfull" of projects currently?
I was under the impression that most (all?) gas appliances (made in the last 15 years) have been able to work with up to 20% H2 blend, so nothing new there apart from the marketing.
There was a chap from Worcester-Bosch doing a Youtube interview some time ago confirming this. Out of interest, he also reminded the viewers of the H2 content of old fashioned Town Gas and that infrastructure upgrades are going on now.
I'm sure there are many links available (oh dear) for this along with Hydrogen-Ready and 100% Hydrogen. If we read all the technical publications (appliances, safety, transport & infrastructure issues) we'll be materials science experts.
Oh I see, thanks. I only asked as you said 'lack of orders'.
Yes, I saw the backlog mentioned in an earlier report, can't remember date, was it April?
I see the price has risen nicely this morning. Tricky to know whether to sell out now and wait for next dip on this volatile stock.
Maybe they have a different name for Sales & Marketing? e.g. Business development or something?
Can you find their Order Book online to check for orders? I assume anything still being discussed is going to be confidential wrt contracts.
OK I read that. I think, as I am old, we are getting into semantics.
What do you call a 99.99% reliable minimum energy provision when it isn't windy during winter during off-peak hours?
@tennents. I'm guessing here wrt SMRs, but as Nuclear runs almost non-stop (certainly big ones do) then during low-demand they could be planning to produce H2 with the 'spare'. Good plan. A bit like the discussions with off-peak Wind being used to electrolyse.
Nuclear would offer baseline power but I would assume (with the wind blowing in the right direction) there may be excess and H2 storage is a good option for all generation.
I'm not sure whether there is any progress with that Cryobattery liquid air thing in/around Manchester to compete with H2.
I wouldn't worry too much about ITM as long as it is just a part of your portfolios.
@Ramboraven
RR have great engineers but acquisition is a great way to save R&D costs and time. That's how people like Ultra, Thales and many Pharma got where they are.
Let's face it, right now ITM is a speculative punt. I cannot see a USP or moat. Nor can I see encouraging news from the Company.
One good COP or Linde buying it could get the price flying.
Or it could blossom with a couple of decent contracts.
Interesting article thanks.
It implies RR bought it as they can actually have some control over the electrloyser development. It doesn't appear to be a simply supply contract. Appears to be a good pairing with RR's SMR (I bought RR recently hoping for SMR approval although Boris might be busy with other things right now :) ).
And yes, hydrogen looks on the up generally but there never seems any good news specifically for ITM right now. I'm sure it'll happen sooner or later.
True. Ah well, it won't have any effect on ITM share price anyway. There's lots of hydrogen excitement (as shown by all these posts) but if ITM doesn't get a slice of the pie then price will sit in doldrums.
Maybe JCB will sell their Hydrogen engine into the Market?