REG - ITM Power PLC - Notice of Trading Update

ITM PowerAnnouncement

01/12/2021 07:00

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RNS Number : 1214U  ITM Power PLC  01 December 2021

1 December 2021

 

ITM Power plc

("ITM Power" or the "Company")

 

Notice of Trading Update

 

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces
that it will issue a Trading Update, to report on progress during the six
month period ended 31 October 2021 and to disclose the current pipeline, on
Thursday 16 December 2021. There will be an analyst call on the day at 1500h
GMT.  Those analysts wishing to join the call should register to receive an
invitation by contacting ir@itm-power.com (mailto:ir@itm-power.com)  .

 

The presentation given on the call will be available on the Company's website
from 1500h GMT and will contain no new material disclosable information not in
the Trading Update.

 

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
 Jeremy Ellis / Chris Sim / Ben Griffiths

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

 

About ITM Power plc:

ITM manufactures integrated hydrogen energy solutions for grid balancing,
energy storage and the production of renewable hydrogen for transport,
renewable heat and chemicals. ITM Power plc was admitted to the AIM market of
the London Stock Exchange in 2004. In October 2019, the Company announced the
completion of a £58.8m fundraising, including an investment by Linde of
£38m, together with the formation of a joint venture to deliver renewable
hydrogen to large-scale industrial projects worldwide. In November 2020, ITM
Power completed a £172m fundraising, including a £30m investment by Snam,
one of the world's leading energy infrastructure operators. In January 2021,
the Company received an order for the world's then largest PEM electrolyser of
24MW from Linde. In October 2021, the Company, with Linde, announced the
deployment of a 100MW electrolyser at Shell's Rhineland refinery, following
the start-up of an initial 10MW facility at the site.

 

ITM Power operates from the world's largest electrolyser factory in Sheffield
with a capacity of 1GW (1,000MW) per annum, with the announced intention to
build a second UK Gigafactory in Sheffield with a capacity of 1.5GW expected
to be fully operational by the end of 2023. The Group's first international
facility, expected to have a capacity of 2.5GW per annum, is intended to be
operational by the end of 2024, bringing total Group capacity to 5GW per
annum. Customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish
Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie,
GNVert, National Express, Toyota, Hyundai and Anglo American among others.

 

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