• £8.8m OLEV Funding for Refuelling Infrastructure and FCEVs

    26th March 2018
    ITM Power is pleased to announce that a consortium including ITM Power, Shell, Toyota, Honda and Hyundai has won £8.8 million in funding from the Department for Transport “DfT” to improve access to an expanded network of hydrogen refuelling stations to support the continued roll out of hydrogen fuel cell electric vehicles (FCEVs) in the UK.
  • Half Year Results for the Period ended 31 October 2017

    29th January 2018
    ITM Power announces its half year results for the six month period ended 31 October 2017 with significant commercial progress, financial position strengthened by £29.4m working capital fundraise
  • World’s Largest Hydrogen Electrolysis in Shell’s Rhineland Refinery

    18th January 2018
    ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcement by Shell that it is building, with ITM Power, a new hydrogen electrolysis plant, the largest of its kind in the world.
  • Establishment of New Subsidiary of ITM Power in Australia and Appointment of Neil Thompson as MD

    29th December 2017
    ITM Power announce the formation of ITM Power Pty Ltd, a wholly owned subsidiary incorporated in Australia to develop the market for ITM Power’s rapid response electrolyser technology. Dr. Neil Thompson has been appointed Managing Director (“MD”) of the newly formed company. ITM Power is also pleased to announce membership of Hydrogen Mobility Australia.
  • 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