ITM Power (AIM: ITM), the energy storage and clean fuel company, provides a trading update, which includes progress on the contracts pipeline and updates on some of the major projects currently underway.
ITM Power is pleased to announce the extension of the UK refuelling collaboration agreement with Shell, which was originally announced on 10 September 2015. The new agreement will run until 2024, and covers the refuelling of all types of hydrogen vehicles; from passenger cars to commercial vehicles, including buses, trucks, trains and ships.
ITM Power is pleased to note the ‘Net Zero’ report by the Committee on Climate Change, where at the very start of the Report, it highlights, in a detailed 48 page section, the vital role that hydrogen could play to achieve zero greenhouse gas emissions by 2050.
ITM Power note the announcement from OLEV released yesterday, stating “In another boost for the zero emission vehicle and automotive sector, winners of a £14 million competition to fund hydrogen fuel cell vehicle and hydrogen refuelling infrastructure projects have also been announced.”