£0.73m Electrolyser Sale

RNS Number : 5411A

ITM Power PLC

27 March 2017

 

This announcement contains inside information.

27 March 2017

ITM Power plc

("ITM Power" or the "Company")

£0.73m Electrolyser Sale

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of a 0.5MW Electrolyser and some associated hydrogen energy equipment for £0.73m. The Company currently has £18.31m of revenue under contract and £6.41m in the final stages of negotiation, making a total pipeline of £24.72m.

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

ITM Power plc

Graham Cooley, CEO

[phone]

Zeus Capital

Andrew Jones / Hugh Kingsmill Moore

[phone]

Tavistock Communications 

Simon Hudson / James Collins

[phone]

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 £4.9m 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 £18.31m of revenue under contract and £6.41m in the final stages of negotiation, making a total pipeline of £24.72m (subject to exchange rate variation).

www.itm-power.com

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