ITM Power is pleased to provide a trading update ahead of its AGM at 10.30am today, including progress on the Company’s new factory, updates on two major ongoing projects and some key appointments.

ITM Power is pleased to announce funding from Innovate UK for a feasibility study to deploy a 100MW Power-to-Gas (P2G) energy storage project, “Project Centurion” at Runcorn, Cheshire, UK.

ITM Power and Johnson Matthey are pleased to announce the opening of ITM Power’s seventh public access hydrogen refuelling station (HRS) located at Johnson Matthey, Swindon on the M4 corridor. The opening is being supported by Toyota, Hyundai and Honda who will also present and participate in a Q&A session. Attendees will also be able to experience a zero emission journey in a Fuel Cell Electric Vehicle (FCEV) Ride and Drive which will be available at the opening.

ITM Power announce preliminary results for the year ended 30 April 2018, during which time activity levels significantly increased. To support this level of activity, the Company successfully raised £29.4m (gross) of working capital via a placing and open offer. The Group currently has £24.1m under contract and a further £6.5m in the final stages of negotiation, constituting a total pipeline of £30.6m having recognised £9.7m of income in H2 2018.