ITM Power Secures £3.5m Contract to Deploy a 3MW Electrolyser System
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PR Newswire
LONDON, April 3, 2017
LONDON, April 3, 2017 /PRNewswire/ --
ITM Power plc
("ITM Power" or the "Company")
ITM Power, the energy storage and clean fuel company is pleased to announce it has signed a £3.50m contract for the deployment of 3MW of electrolysis in the UK with some associated hydrogen energy equipment. Further details will be made available, including the location and application, when possible. The Company currently has £21.79m of revenue under contract and £2.86m in the final stages of negotiation, making a total pipeline of £24.65m.
(Photo: http://mma.prnewswire.com/media/485519/Electrolyser.jpg )
About ITM Power plc
ITM Power 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 £4.85m 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 £21.79m of revenue under contract and £2.86m in the final stages of negotiation, making a total pipeline of £24.65m (subject to exchange rate variation).
For further information please visit http://www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO
+44-(0)114-244-5111
Tavistock Communications
Simon Hudson / James Collins
+44-(0)20-7920-3150
SOURCE ITM Power Plc
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