October 2019
Tuesday, 29 October 2019 11:55

Award of Options

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that on 24 October 2019, the Remuneration Committee of the Company approved the awards of options over ordinary shares of par value £0.05 each in the capital of the Company to the Executive Directors as follows:

Executive director Number of options granted Existing Options Total Options
Graham Cooley
307,500
6,000,000
6,307,500
Simon Bourne
159,750
2,700,000
2,859,750
Rachel Smith
72,000
1,350,000
1,422,000
Andy Allen
47,250
1,050,000
 1,097,250

All options are being issued with an exercise price of 48p, being the mid closing price on the day of the award which was made after trading hours. Options vest on the third anniversary of the grant award and have a ten year expiry from the date when the options were granted. The Executive Directors currently have the following interests in ordinary shares in addition to the options set out above:

Executive director
Position Number of Shares % of issued share capital
Graham Cooley
CEO 1,137,726 0.24%
Simon Bourne
CTO 349,462 0.07%
Rachel Smith Executive Director 80,886 0.02%
Andy Allen Finance Director 25,000 0.01%

For further information, please visit www.itm-power.com or contact:


ITM Power plc
Nicola Ham Edmonds, Company Secretary (0)114 244 5111
Investec Bank plc (Nominated Adviser and Broker)
Jeremy Ellis / Chris Sim (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / Barney Hayward (0)20 7920 3150

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Graham Cooley
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ITM Power plc
b) LEI 21380042MB2JKZ6RRP12
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument Options over ordinary shares of 5p each
Identification code ISIN: GB00B0130H42
b) Nature of the transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil cost option 307,500
d) Aggregated information
– Aggregated volume 307,500
– Price NA
e) Date of the transaction 24 October 2019
f) Place of the transaction Outside a trading venue

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Simon Bourne
2 Reason for the notification
a) Position/status Chief Technical Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ITM Power plc
b) LEI 21380042MB2JKZ6RRP12
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument Options over ordinary shares of 5p each
Identification code ISIN: GB00B0130H42
b) Nature of the transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil cost option 159,750
d) Aggregated information
– Aggregated volume 159,750
– Price NA
e) Date of the transaction 24 October 2019
f) Place of the transaction Outside a trading venue

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Rachel Smith
2 Reason for the notification
a) Position/status Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ITM Power plc
b) LEI 21380042MB2JKZ6RRP12
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument Options over ordinary shares of 5p each
Identification code ISIN: GB00B0130H42
b) Nature of the transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil cost option 72,000
d) Aggregated information
– Aggregated volume 72,000
– Price NA
e) Date of the transaction 24 October 2019
f) Place of the transaction Outside a trading venue

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Andy Allen
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ITM Power plc
b) LEI 21380042MB2JKZ6RRP12
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument Options over ordinary shares of 5p each
Identification code ISIN: GB00B0130H42
b) Nature of the transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil cost option 47,250
d) Aggregated information
– Aggregated volume 47,250
– Price NA
e) Date of the transaction 24 October 2019
f) Place of the transaction Outside a trading venue
About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of green hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering green hydrogen to large scale industrial projects worldwide. ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell’s Rhineland refinery. ITM Power announced the lease of the world’s largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

Published in News
Friday, 25 October 2019 14:09

Birmingham Bus

Published in H2 Stations
Friday, 25 October 2019 12:25

Gatwick Refuelling Station

Published in H2 Stations
Friday, 25 October 2019 12:22

Shell Cobham Services Hydrogen Station

This station was opened to the public on 22nd February 2017 and is the first hydrogen station to be located on a forecourt in the UK.

Published in H2 Stations
Friday, 25 October 2019 12:21

Teddington Hydrogen Station

Published in H2 Stations
Friday, 25 October 2019 12:20

Rainham Solar Hydrogen Station

This station was the second station to be opened as part of the HyFive project.  It was officially opened to the public on 11th October 2016 and is supplied with electricity from solar panels on the CEME site. 

Published in H2 Stations
Friday, 25 October 2019 12:14

Swindon Hydrogen Station

Published in H2 Stations
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the opening of its eighth UK public access hydrogen refuelling station (HRS) located at the Shell services, Gatwick Airport on the M23 corridor south of London.

 

About the new M23 Gatwick Airport Hydrogen Refuelling Station: The new Gatwick Airport HRS is ITM Power’s eighth UK public access HRS and joins Cobham on the M25, Beaconsfield on the M40, Rainham in Essex on the A13, Teddington in London, Rotherham on the M1, Kirkwall in Orkney and Swindon on the M4 corridor. The new HRS lies just off the M23 linking the M25 with the South of England. The station uses electricity via a renewable energy contract and water to generate hydrogen on-site with no need for deliveries.

Gatwick Airport, also known as London Gatwick (IATA: LGW), is a major international airport near Crawley in West Sussex, southeast England, 29.5 miles (47.5 km) south of Central London. It is the second-busiest airport by total passenger traffic in the UK, after Heathrow Airport and is the ninth busiest airport in Europe.

The Pan European H2ME2 project: The new HRS is the second of two stations in the UK to be deployed as part of the pan European H2ME2 project, which was funded by the European Fuel Cell and Hydrogen Joint Undertaking (FCHJU) and the Office of Low Emission Vehicles (OLEV).

Bart Biebuyck, Executive Director of the FCH JU said: “It is always with pride that we see how FCH JU support helps to build up the necessary hydrogen infrastructure for the prompt mass deployment of fuel cell vehicles. We are fully committed to ensure that Europe is at the forefront of fuel cells and hydrogen technologies. We have already supported over 50 hydrogen refuelling stations through our H2ME programme and, with initiatives like the European HRS Availability System, we aim to ensure that drivers soon can choose hydrogen-based, clean means of transport throughout the continent – and have reliable information to do so. This new hydrogen refuelling station, located in a strategic transport hub like Gatwick, where synergies with other transport modes can be reached, marks a big step forward towards a cleaner transport sector.”

Mike Copson, Hydrogen Business Development Manager at Shell commented: “We are pleased to be expanding our network with the opening of our third Shell branded hydrogen refuelling site, and fulfilling our initial commitments alongside our partner ITM Power. Likewise, we are looking forward to further expanding the hydrogen network with three new sites over the next year as part of our commitments to the OLEV Hydrogen for Transport Programme initiative.”

Dr Graham Cooley, CEO, ITM Power said: “Gatwick Airport is an important new hydrogen refuelling station. Siting this HRS at the UK’s second largest Airport and supporting the roll out of FCEVs on the

M23 heading south from the M25 is an important development for the expanding network in the UK. ITM Power is grateful for the funding support of FCHJU and OLEV and the enthusiastic collaboration of Gatwick Airport.”

 

Jon Hunt, Manager, Alternative Fuels at Toyota said: “Toyota Mirai hydrogen Fuel Cell Electric Vehicles on the UK roads have already covered almost 2 million emission free miles and the opening of another hydrogen station by ITM Power conveniently at Gatwick Airport on the Shell forecourt will open the door for new customers and allow current users to increase the number of fast filling zero emission hydrogen vehicles they operate.   Congratulations to ITM, Shell and the other partners who have delivered this fantastic new site.”

Ashley Andrew, Managing Director, Hyundai Motor UK said: “The opening of the latest addition to the ITM refuelling station network will significantly enhance consumer confidence in hydrogen fuelled vehicles. Offering existing customers an alternative refuelling option, it also sends a strong message that the UK’s hydrogen refuelling infrastructure is continuing  to develop into one that will be able to cope with increased demand in the future.”

Tim Norwood, Corporate Affairs, Planning and Sustainability Director, Gatwick Airport, said: “Gatwick Airport is delighted to host a hydrogen refuelling station provided by ITM Power, to encourage the further take-up of clean emission transport for visitors to the airport and local fleet operators. We recognise the value of hydrogen as a renewable clean fuel that can contribute towards our decarbonisation and air quality objectives, and we look forward to its expanding role in transport and energy.“

Jonny Goldstone, Managing Director at Greentomatocars said: “Gatwick’s HRS coming on line is a major boost to our hydrogen strategy – it gives us and our drivers peace of mind and extra efficiency for the large number of fares we cover south of the M25, and is another major step in the right direction towards zero emission ground transport for London and the South East in particular. Combined with the existing infrastructure, the Gatwick station means we are now able to provide our Zero Emission executive service as far afield as Birmingham, Brighton and Bath!”

For further information, please visit www.itm-power.com or contact:

 

ITM Power plc (0)114 244 5111 Nicola Ham-Edmonds, Company Secretary
Investec Bank plc (Nominated Adviser and Broker)  (0)20 7597 5970 Jeremy Ellis / Chris Sim
Tavistock (Financial PR and IR) (0)20 7920 3150 Simon Hudson / Nick Elwes / Barney Hayward
 
About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of green hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  In October 2019, the

Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering green hydrogen to large scale industrial projects worldwide.  ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell’s Rhineland refinery. ITM Power announced the lease of the world’s largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

 

About H2ME2:
This €170 million demonstration project is co-funded with €67 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a public-private partnership supporting fuel cell and hydrogen energy technologies in Europe. This project has received funding from the Fuel Cells and Hydrogen 2 Joint Undertaking under grant agreement No 671438 & No 700350. This Joint Undertaking receives support from the European Union’s Horizon 2020 research and innovation programme, Hydrogen Europe and Hydrogen Europe research.

About FCHJU:

The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a public-private partnership supporting research, technological development and demonstration activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-clean energy system. The FCH JU was established in 2008 as a public-private partnership between the European Commission, European industry and research organisations, and receives funding under the EU Horizon 2020 Framework programme.
Published in News
Thursday, 24 October 2019 15:09

Birmingham Passenger Vehicle

Published in H2 Stations
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ITM POWER HEAD OFFICE
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+44 (0)114 244 5111

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+44(0) 20 7920 3150

ITM Power is a public limited company registered in England and Wales. Company Number 05059407

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