REG - ITM Power PLC - Deferral of Trading Update

ITM PowerAnnouncement

01/12/2022 07:15

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RNS Number : 1716I  ITM Power PLC  01 December 2022

1 December 2022

 

ITM Power plc

("ITM Power" or the "Company")

 

Deferral of Trading Update

 

In order to provide Dennis Schulz, the newly appointed Chief Executive
Officer, with sufficient time to properly assess the Company's operations and
identify his near-term priorities, the Company has elected to defer its
planned trading update, originally scheduled for 8 December 2022. The Company
expects to provide an initial strategic and operational update at the time of
the half year results to be announced by the end of January 2023.

 

For further information please visit www.itm-power.com
(http://www.itm-power.com/)  or contact:

 

 ITM Power plc
 James Collins, Investor Relations                 +44 (0)114 551 1205

 Justin Scarborough, Investor Relations            +44 (0)114 551 1080

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0)20 7597 5970
 Daniel Adams / Chris Sim / Ben Griffiths

 Tavistock (Financial PR and IR)                   +44 (0)20 7920 3150
 Simon Hudson / Tim Pearson / Charlie Baister

 

About ITM Power plc:

ITM Power was founded in 2001 and ITM Power plc was admitted to the AIM market
of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM
Power designs and manufactures electrolysers based on proton exchange membrane
(PEM) technology to produce green hydrogen, the only net zero gas, using
renewable electricity and water.

 

Linde, the leading industrial gases and engineering company acquired a
minority stake in ITM in 2019 and currently holds 16.2% of the company. At the
same time, Linde and ITM Power formed a joint venture, ITM Linde Electrolysis
(ILE), bringing together ITM Power's expertise in PEM electrolysis and Linde's
world class engineering, procurement and construction (EPC) expertise to
deliver turnkey solutions to customers.

 

In March 2022, ITM Power's subsidiary, Motive Fuels, which builds, owns and
operates green hydrogen refuelling stations, formed a joint venture with Vitol
Holdings SARL, creating a partnership which will help facilitate the scaling
up of production, distribution and demand stimulation for Hydrogen to
Transportation.

 

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