reports
- Daniel Slater
ITM Power (ITM LN) - Engineering contract award - BUY
ITM has announced award of a plant engineering integration contract for EDF’s Tees Green Hydrogen project in the UK. This is associated with the 8MW capacity reservation (four Neptune 2 electrolyser units) announced in July 2024, with today’s engineering contract covering the integration of these units into the wider project. Tees Green Hydrogen has already secured a measure of UK government funding.
- Daniel Slater
ITM Power (ITM LN) - 20MW contract award - BUY
ITM has announced a new 20MW contract award, consisting of four of its 5MW Neptune containerised units. The contract is with La Francaise de l’Energie (an independent multi-energy producer) for its Hydrogen Hub Agder project in Norway, which is planned to supply hydrogen to the maritime industry. The project is expected onstream in late 2026, with a second 40MW phase then expected to be undertaken from 2027.
- Daniel Slater
ITM Power (ITM LN) - H1 FY 2025 results - BUY
ITM has released its H1 results to the end of October 2024. These report numbers in line with those given in the December trading statement, alongside an upgrade to guidance for the end April 2025 cash holding. Operational progress continues to be made on manufacturing reliability, and the company has also provided a contract backlog number, showing growth versus two years ago.
- Daniel Slater
ITM Power (ITM LN) - 10MW FEED contract award - BUY
ITM has announced award of a FEED contract from a large-scale European energy company for joint development of a standard design for a 10MW hydrogen plant, using ITM’s 5MW Neptune electrolyser product. The intention is to deploy this design in several projects across the UK.
- Daniel Slater
ITM Power (ITM LN) - 15MW contract award - BUY
ITM has announced a new 15MW contract award. This is with a family-owned company in Germany, and will use three of ITM’s 5MW Neptune modules. These will be deployed at three separate sites to provide hydrogen for vehicle refuelling. First deliveries under the contract are expected in H1 2026.
- Daniel Slater
ITM Power (ITM LN) - 50MW FEED contract award - BUY
ITM has been awarded a FEED contract for a new 50MW electrolyser project. The project is located in the EU, and being progressed by an “experienced green hydrogen plant developer”. The project is expected to use ITM’s 5MW Neptune module, with FID targeted for 2025, and first hydrogen production in H2 2027. Production rates of 5,000tonnes/year of hydrogen are expected, for supply to local industry.
- Daniel Slater
- Daniel Slater
ITM Power (ITM LN) - Forecast Update
We have updated our forecasts and valuation for ITM, realigning our expectations for FY25 as per guidance given in FY24 results, as well as for subsequent years. Despite reduced sales assumptions and increased losses in the near-term, we still model the company to reach break-even by the early 2030s, and our valuation remains relatively steady.
Hybridan Small Cap Feast - 15 August 2024
15th August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Tertre Rouge Assets Plc (TRA.L) has delisted from the Standard Segment of the Main Market. What’s baking in the oven? ** Reverse Takeovers: Earnz plc (EARN.L) is an AIM Rule 15 cash shell, which is required to make an acquisition or ...
- Daniel Slater
ITM Power (ITM LN)
ITM has released its full year results to the end of April 2024. As guided, these report a year of revenue progress and reduced cash burn. Going forward, the company retains a large cash pile for continuing to develop its electrolyser business, with the recent 100MW contract win from Shell representing important progress here.
Hybridan Small Cap Feast - 13 August 2024
13th August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Destiny Pharma Plc (DEST.L) has delisted from AIM Tesco Personal Finance Group (71XN.L) has delisted from the Standard Segment of the Main Market. What’s baking in the oven? ** Our daily digest of news from UK Small Caps If you would...
- Daniel Slater
ITM Power (ITM LN) - New 100MW contract award
ITM has announced award of a significant 100MW contract from Shell for its REFHYNE II project in Germany, following the capacity reservation in late 2023. This is a significant contract win for ITM, representing revenue over the coming years and an important vote of confidence in the company’s PEM electrolyser technology.
Hybridan Small Cap Feast - 02 August 24
2nd August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: Lok’nStore Group (LOK.L) has delisted from AIM Tyman (TYMN.L) has delisted from the Premium segment of the Main Market What’s baking in the oven? ** Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email...
- Daniel Slater
- Daniel Slater
ITM Power (ITM LN) - New 8MW capacity reservation
ITM has announced a new 8MW capacity reservation agreement with a large utility company, made up of four of ITM’s 2MW Neptune units. The units are expected to be manufactured in 2025/26, with the project subject to FID in 2025, having already secured funding from the UK government’s Hydrogen Allocation Round 1. This new agreement follows the recent announcement of 500MW of capacity reservation from a global industrial customer (which runs until the end of 2028), and also an announcement in Decem...
- Daniel Slater
ITM Power (ITM LN) - 500MW capacity reservation
ITM has announced a new 500MW capacity reservation agreement with a global industrial customer, expected to be used for projects in Europe and the USA. The new agreement runs until the end of 2028, and follows the announcement in December of a similar agreement for 100MW with Shell for its Refhyne 2 project in Germany, itself expected to be executed over 2025 and 2026.
- Daniel Slater
Hybridan Small Cap Feast - 26 April 24
26th April 2024 A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: C4X Discovery Holdings (C4XD.L) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acqu...
- Daniel Slater
- Daniel Slater
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