• Trading and Operations Update

    30th November 2017
    ITM Power announce an update on trading and operations for the period since the announcement of its successful placing and open offer on 29 September 2017. The Company maintains its focus on increasing commercial sales and currently has £20.2m of projects under contract and a further £22.4m of contracts in the final stages of negotiation. The total of £42.6m is an increase of £5.9m in the two months since the placing and open offer announcement.
  • Large Scale Power-to-Gas Energy Storage Deployment Study with Northern Gas Networks

    9th November 2017
    ITM Power announce that it has secured funding from the Department for Business, Energy and Industrial Strategy (BEIS) as part of the Energy Storage Feasibility Study Competition launched in January 2017 to collaborate with Northern Gas Networks (NGN) to undertake a study examining the potential deployment of large-scale Power-to-Gas energy storage. The Company’s order pipeline stands at £19.9m of projects under contract and £20.4m of contracts in the final stages of negotiation, totalling £40.3m (subject to exchange rate variation).
  • Non-Executive Director and Original Funder, Peter Hargreaves, to Step Down from Board

    25th October 2017
    ITM Power announce Peter Hargreaves, a Non-executive director since 2003, has notified the Company of his intention to step down from the Board with effect from 31 October. Peter Hargreaves said, “I am proud that I have been involved with ITM Power from the time I encouraged the founders to start the Company. As I look back, I honestly feel that ITM Power is now at its most commercially and financially viable since its foundation.
  • Completion of £29.4m working capital fundraise

    18th October 2017
    ITM Power announces that is has received valid acceptances in respect of 10,896,225 New Ordinary Shares pursuant to Qualifying Shareholders’ Open Offer Entitlements representing a percentage take up of 100 per cent. of the new Ordinary Shares available under the Open Offer. Accordingly, the aggregate amount raised pursuant to the Open Offer is approximately £4.4 million and the aggregate amount raised pursuant to the Firm Placing and Open Offer is approximately £29.4 million.
  • Proposed Placing of New Ordinary Shares to Raise £25 Million and Proposed Open Offer to Raise up to £4.4 Million

    29th September 2017
    ITM Power announce intention to raise £25 million (before expenses) through a placing of 62,500,000 New Ordinary Shares of 5 pence each in the capital of the Company (the Firm Placed Shares), with certain existing and new institutional investors (the Firm Placing). In addition the Company intends to raise up to c.£4.4 million through an open offer (the Open Offer) of 10,896,225 New Ordinary Shares (the Open Offer Shares). The fundraising is principally to provide working capital to support the delivery of the contract backlog and opportunity pipeline.
  • Sale of 1.1MW Power-to-Gas Plant to EnergyStock

    19th September 2017
    ITM Power announce that EnergyStock, a subsidiary of Gasunie, the Dutch gas transmission network operator, has purchased an ITM Power 1.1MW rapid-response PEM electrolyser. The sale was won in a competitive tender process and includes an after-sales support contract. The electrolyser will be located at EnergyStock’s Zuidwending salt cavern storage facility in northern Netherlands, and the generated hydrogen will be either used on-site within EnergyStock’s systems, or dispensed into tube trailers for supply to future hydrogen refuelling stations
  • World’s first tidal-powered hydrogen generated at EMEC

    13th September 2017
    EMEC has generated green hydrogen gas demonstrating potential for a clean replacement for polluting fuels The European Marine Energy Centre (EMEC) has produced hydrogen gas from an ITM Power electrolyser using electricity generated from tidal energy in Orkney. This is the first time that hydrogen has been created from tidal energy anywhere in the world.
  • 10MW Refinery Hydrogen Project with Shell

    1st September 2017
    ITM Power is pleased to note the announcement today from Shell concerning a joint project to install a 10MW electrolyser to produce hydrogen at the Wesseling refinery site within the Rheinland Refinery Complex in Germany.
  • First Hydrogen Bus route in France

    1st September 2017
    ITM Power join the GNVERT – VAN HOOL consortium to supply hydrogen for the first hydrogen bus route in Pau, France.
  • Final Results for the Year to 30 April 2017

    25th August 2017
    ITM Power announces preliminary results for the year ended 30 April 2017. The Group currently has £17.8m under contract and a further £17.6m in the final stages of negotiation, constituting a total pipeline of £35.5m having recognised £6.3m of income in H2 2017.