ITM Power Plc (LON:ITM), the energy storage and clean fuel company, is pleased to announce the sale of a Euro 0.7 million electrolyser system to a global specialty gas company by competitive tender.
Dr Graham Cooley, CEO, ITM Power commented: “We are delighted to have been successful in another tender process as part of a key strategic hydrogen refuelling initiative. I look forward to updating the market on further progress from this important partnership.”
The company manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The Company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £20.15m of projects under contract and a further £1.37m of contracts in the final stages of negotiation constituting a total pipeline of £21.52m.